Lee Strauss and I had an opportunity to discuss what it's like to flip properties and invest in real estate while simultaneously being a fire fighter. Interesting combination! Here's what we discuss:

How his father influenced him - he owned a Mr Transmission and had a large portfolio of properties

Instilled a strong work ethic in him

Lee tagged along with his father as child when he dropped off small gifts to tenants

Lee bought his first rental property at 21 while he lived with his parents

Has 2 larger scale flips in progress today

Finding good contractors and avoiding costly mistakes

Treating and paying good contractors well

Making multiple firm offers to capture a great deal

Not being too selective with homes, taking action instead

Using income from flips to fund buy and hold properties

Targeting mid-century homes for the lots, the trees and the character

The top value-adds in a flip

What to do if a flip goes sideways

Being a firefighter while flipping

The benefits of owning a tangible asset

 

Lee is a realtor with Rock Star Real Estate Inc. you can reach him at 905-361-9098 or by checking out his website: http://www.straussinvestments.com