All Forum Posts by: Brendon Pishny

I try not to make things too complicated. On a flip I'm taking the ARV and subtracting the rehab amount, holding costs and profit. That helps me come up with a purchase price. I love purchases up to 150k that sell for 200-250.

On buy and holds I'm trying to get as close to the 1% rule as I can. Meaning rent should equal 1% of the purchase price. That number is a little hard to get to where I'm at for SFH but gets better on duplexes and multi unit properties. If I do that I usually cash flow well. Each deal is unique though.

@Ty Haas thanks for reaching out. @Jake Riordan has some good advice for finding meetings. I’m not sure your availability but I attend a weekly Wed morning meeting called Winvestors. Great place to meet people and offer your deals. 

I’m definitely open to investing in Lawrence if you find anything over there. Start driving for dollars and find house that look rundown. I can help you find the owners contact info so you can find out if they’ll sell. That’s an effective way to find deals. Just takes time and work. 

Let me know if you ever get close to the Olathe area and maybe we can get together. 

I'm a real estate agent and investor in KC. I have 10 rental properties on the Kansas side and have done several flips. I attend multiple networking events in the area each week, but I am always looking for more people to connect with in the KC market. I feel that's the best way to learn more and discover other opportunities for investing. 

Hi, I live in Olathe and have been investing in the area for the last 5 years. I’d love to meet up with you while you’re here next week and see if I can help you. Let me know your schedule through a message. I’m flexible Monday and Tuesday.

@Gabriel Ehrlich MLS is tough right now, but I have got a few on there in the past. Most of my luck recently is auctions and referrals through networking. Also, did one seller finance deal last year that I found by calling FSBOs.

Great job. Your story sounds similar to mine. Have done a few flips to fund rentals. Now up to 10 doors. How are you finding your deals? Our market is tight right now.

@Matt K. I like these ideas. Do you have an opinion on what a fair fee would be on the draws?

@Jonathan Orr Thank you so much for this helpful information. Appreciate you taking time to answer. 

@Jonathan Orr This is very helpful. My idea if I don't take anything on the back end was just make sure I get the listing when it's ready for sale. I think a percentage of the overall project cost is a good way to negotiate a fair price. Do you have a specific list of responsibilities? I just know it helps to have as much agreed upon in advance as possible. 

I've recently been approached with several opportunities to manage some rehab projects for other investors in my local area. This is for some investors that want to be very hands off. After doing my own projects I put myself out there to help others. I'm not quite sure how to structure the agreements to make it worthwhile and fair for each party. I'm not a general contractor so they would be paid separately. This would be more of the day to day activities and basically feet on the ground. 

My thoughts are a monthly fee to cover time and travel. Also, a percentage of the end profit and/or be the listing when the rehab is complete. I would do a certain number of site visits per week, handle all contractor bids and calls, keep to a predetermined schedule and budget, etc. Basically see the project through from start to finish.

What have others done in this situation? What has worked and not worked?