All Forum Posts by: Gus Kazek

@Joshua Dorkin great reads! Only action can take you as far as you desire!

@Christopher Sparacino best way to generate cash flow is to be in a good location with sizable rents and buying at a low purchase point! As king as your PITI is less than your rental income, the difference between the two is your monthly cash flow. A lower insurance rate could increase cash flow, as well as lower interest rate in borrowing.

@Travis Moultrie make sure you have a house under contingency before opening up an llc. If you wait a while year you will have to pay some taxes on that llc and it will mostly likely be straight out of the money you just deposited into that other bank account you just opened. Be mindful that waiting isnt always the best option.

@Mandi Martinez I would suggest sitting down with the contractor and asking how much longer do you anticipate to be working? If is an unreasonable amount of time, I would cut the cord with them and and find a real professional. As a current civil engineer, usually a scope of work is needed for any construction related project and a clause that I love to put in is a schedule penalty. So for everyday the contractor goes past the anticipated completion date, a fine we be charged to them to keep them accountable for finishing in a timely manner. I've seen people change contractors half way through projects because the had no written agreement and things were moving slower than they wanted. I'd say go with another contractor from a referral.

@Gus Muller yes, but that is just my opinion. you are doing no wrong with whatever you choose. I prefer the 1031 into multifamily for the long term wealth building aspect of constant cash flow. But this deal sounds more of a flip that anything else. Overall a solid deal.

@Gus Muller Flip that house and then invest the proceeds into a multifamily building to rent out! The number make more sense for a flip on this one based on what you have provided.

@DuBeaux Dingle those agents who dont invest themselves tend to not understand the big picture when it comes to creating long term wealth. Many of us were raised to work hard and buy a single family home without ever realizing the potential that a rental property could provide adequate income for us to live the lives we want. Everyone is different and most agents just want to sell instead of taking risks of owning!

@John Lorince once I become licensed in May I will be more than happy to help you find another rental property!!!

@Noah Norton whatever you feel more comfortable with. As long as you are gaining experience you won't be doing the wrong thing. Fix and flip is great to acquire capital along with wholesale. But if you truly want to build long term wealth, buy and hold is the most clear cut path to do so.

@Mindy Jensen I just switched from spotify to google play and I couldn't be happier to hear that I can now access all the episodes now! Just relisten to episode #296 which is my favorite one yet!