All Forum Posts by: Filipe Matos

getting harder and harder and riskier.

I am moving to cities with lower purchase price and higher cash flow like Hamilton.

That sounds like a totally different reality, sounds like the Armando montelongo show.  I am assuming he grabs desperate agents without experience, uses them as cheap labor and teaches them everything from a to z and have them almost full time.

Buys houses under 100k , does several houses a month, etc.

There is no war zones in Canada, no slums, no dirt cheap houses, no desperate people looking to earn pennies.

You can try though, why not...

How many houses have you bought already?

A real estate agent will never be involved on renovations, it's not their job. At least I have never heard of any doing it, not even on the ultra fantastic tv shows.

They won't even analyze how good the deal is most of the times. I am sure most of them will find that no cash flow is fine, It's always a good time to buy, etc...

Most agents will only send alerts, show the property and make you sign the papers. 

You will be the one having to follow up on Reno's or whatever contractor/ contracting company you hire.

Or... You hire a designer to manage it too, paying extra dollars.

Again, ask around, others may have a different experience.

i have 4 agents working for me.

I do not have a license, no patience, no time for that. 

I buy with my agents, and when I sell I pay them  1% since I am loyal to them.

It's a win win situation, they know I am there doing deals every year with them.

 I buy in Hamilton and send my contractors there, I know a few of them for awhile and can trust.

In order to know what to buy and how, you have to know the market and do the math.

How are you planning to do it?

 Haha, I see you are! ;-) 

One thing for you to know though, I am not a flipper, I only started objectively buying houses to possibly sell in January. 

I am not seeing 50% returns unless you don't have to pay real estate commissions.

Do you have a brokers license?

My deals until now are all from mls, but I am trying to get private sales. 

Mls good deals come once awhile depending in which market you're looking, private sales are harder to get.

On my deals I am trying to get an annual roi higher than 35, close to 50%. This is not easy though since there is tons of competition.

80% of my purchases have been done in multiple offer situation, since 2007.

Next month I will do a pure flip , I will try to get 25k net minimum after commissions. With an investment of 130k.

I am sure there is people here that can help you better than me in terms of flips.

How do you plan to do them? 

fair enough.

Thanks for remembering us that every turn key provider will most likely sell overpriced investments.

 Great... The bleeding will continue.

Hi Glenn, why do you say it doesn't serve anyone well to know the company name?

Do you think it's a company others should be safe with to invest in re? Would you invest again with them? 

do you feel the company could have never know that the deal could be a sour one due to unpredictable events?

Would you refer that company to your family members and friends in the future?

Got it. yeah, like someone else said, talking about gross income can be very vague, depending on your approach.

I can easily achieve 1 million gross income in 6 months or less in my market by buying 2 properties at 500k and selling for 1 million. 

My net income? From 50k to 200k.

Worst case scenario, I can also lose money....

Anyway, congrats for your achievements but the people that Read our stories need to know the millions we talk about can mean anything, even losing money.

Cheers