All Forum Posts by: Kris Bucci

Wanted to start a thread to introduce local BP members with each other... So if you are from the lower mainland or Vancouver Island day hi, intoduce yourself and maybe mention who you hope to meet through BP....

@Steven Michael Thomas can’t wait to hear your goals... if they aren’t ambitious you aren’t reaching high enough!!! 

@Jacob G. what was your favourite book you devoured? I’m currently working on the 4-hour work week.  Good so far... 

@J. Mitchell Bernier it sounds like we are roughly at the same points in our REI career. We haven't employed the BRRR strategy yet, but are hoping to do a variation of it this year by building a duplex on property we currently own by using private money or a partners money to complete the build before refinancing to get capital out of the property...

@David C. that’s awesome... Continuing to build that network is high on our list.  We are planning on trying to expand our network and hopefully get invited to our first Mastermind.  We’ve got tickets to Thrive in Las Vegas in May which is super exciting!!! 

Ok...we took Brandon Turners recommendation to start the tradition of sitting down to review our accomplishments in 2018 and make some goals for 2019. 

(Completed while having lunch after our 2 hour spa provided by our realtor after purchasing our last property!!)

First off 2018 - Without a doubt one the biggest life changing years of our lives... When we decided REI would be our future.

1. Purchased our first true purpose bought Investment property that brought us up to 6 doors.
2. Completed first JV bringing us to 8 doors
3. 8 days in Spain and a month in Australia for Sari and I... thank you Canadian Navy for the work trips!! 

Goals for 2019

1. 20 Doors by 2020... It's a big one, but we are confident with the right JV partners we can make it happen
2. Retire from the Navy in July 2019 to make REI my full time career
3. Sari to obtain Real Estate Licence and Kris to obtain Property Management Licence. REI Dream Team!!!

What are your goals for 2019?  Lets go Canada, #dreambig

@Kevin Krysty Jr. We have had it, and for the most part it’s just them trying to get a better deal.  But due to our very low vacancy rate, we’ve never had to lower the price.  We simply say, “Sorry but as we have only had the property listed for a couple of days, we don’t yet feel it necessary to lower the price.  Are you still interested at the advertised price”. Every time their answer was yes.  We have had a couple tire kickers low balling us, usually we just ignore those emails.

@Kevin Krysty Jr. honestly I think that depends on what you know about them.  If they are a friend you should have a good idea about job status, type of stuff they buy etc... do they seem strapped for cash etc.. If you have “any” doubts then yes I would.  If they are your friend and have nothing to hide it shouldn’t be a problem.  Just present it as a business transaction and that it’s nothing personal. 

Although I’ve never rented to family and friends... I think I agree with @Denise G.  It obviously depends on the friend, but it could go one of two ways. They respect the property because they are your friend, or they routinely expect special treatment from you because they are your friend.  Think hard, would you be willing to evict your friend for not paying rent or smoking in the property?  If not then look elsewhere.  Also ensure you screen your tenants well... there are many programs on the market that will help screen, but I find social media is a great place to start.  I once had a perspective tenant apply looking professional and nice, while on social media we could see what type of lifestyle he led (non stop partying and drugs)   You need to be careful why you say no, but finding red flags can sure help narrow down the search.