All Forum Posts by: Christopher Lynch

Rhode Island in general is very high right now when looking at price to rent ratios. After accounting for interest rates very few properties will cashflow. 

There are only 100 active multifamily properties on market right now in MLS. The lowest being offered at 249k (Which is my listings and needs a total rehab).

There are some parts of CT that the numbers are still looking good. 

Good deals also do come up in RI, but you have to really look hard for them. 

Hi all! 

What is more lucrative? being a Realtor or Flipping Homes? 

Both are active income but it does seem the flipper has more control, waste less time and overall has a better business. 

I would love to hear from people who have been both Realtors and Flippers.

What do you enjoy most? And what are the pros and cons to each?

Long story short- I’m a Realtor ( Not New, 8 years full time) and I’m looking for what’s next. Selling has gone great. I even built a real estate team that is still fully operational.

However I feel like I’m often spinning my wheels, wasting time and ultimately not building all that much wealth. It’s a great income stream that affords a nice lifestyle but it’s not the wealth builder that is going to get me to my big financial goals.

I am now researching stepping away from day to day sales to start a house flipping company.  

I look forward to hearing from you. 

I would recommend you talk with @Jeffrey Bibby from JSB tax services. 

Hi all,

I just found a capital partner who wants to do deals together. How would the sales agreement be written? 

Should both LLCs go on the sales agreement? How would this work if the profit is being split up 50/50? 

I have looked into doing this but since I already used FHA to buy this Duplex (I have since refinanced out into conventional) they will not let me go higher in units. Most banks I spoke with say I would have to go to another 2 unit in a nice area or a single family.

Hi! Yes I have looked into doing another Duplex. Unfortunately with current rates and prices there would be hardly any cashflow on property #2 once I move out using current rents, rates, taxes, and capx. This is why I have not moved out of this and gotten property #2 with FHA.

Hi All

I am a full time Realtor ( almost 8 years in) I have helped many clients find success but now it’s time to find my own. 

I would like to start flipping houses. The average wholesale deal I am seeing is about 200k purchase price for my location. 

Based on that how much liquid cash should I save before getting into my first deal? I am going to go the hard money route. 

Hi All,

I bought my duplex in 2019 which was a house hack. I already refinanced to take advantage of rates. The cashflow is great and I’m locked in at a 3.2% rate. 

The problem is I want to grow my portfolio into the short term rental space and I have roughly 140k of dead equity sitting in my duplex. 

With rates up my payment is going to be significantly higher if I refinance. Is it a good idea to pull the equity out and use it to invest in a short term rental in New Hampshire using the 10% down vacation loan? Or should I do a HELOC and use that? Then payoff the HELOC with the STR cashflow.

My goal is to create more monthly cashflow. I feel short terms will help me achieve this goal. 

Any feedback would be awesome. 

 100 Doors is just copywriting to get the interest of people to click the post and engage in conversation. The 100 doors do not matter. The meat and potatoes of my questions is how you grow a large portfolio with limited cash. 

Do you still own laundry mats?