June 24, 2019

Building Secondary Suites – Turn Your Single Family House into a Real Money-Maker with Rob Break

Learn Rob’s strategy in real estate investing: creating a legal secondary suite and refinancing the property and potentially pulling your initial capital investment back out and ‘recycling’ it into the next property, discover how Rob started from flipp...


Learn Rob’s strategy in real estate investing: creating a legal secondary suite and refinancing the property and potentially pulling your initial capital investment back out and ‘recycling’ it into the next property, discover how Rob started from flipping houses to doing purchasing sale agreement or wholesaling then ended up focusing on turning single-family homes into multifamily homes by adding a legal basement suite, and find out why finding houses, where you can create a legal secondary suite, is more profitable than house flipping or wholesaling.

 

Resources/Links

  • Podcasting with Breakthrough Investor/Agent Rob Break: Check it out here

Summary

Rob Break is a visionary and entrepreneur in the world of residential investment real estate. Rob has an impressive history as a wholesaler and his investment podcast has helped make him a very respected real estate authority. Canadian Real Estate Wealth Magazine recently recognized him for his savvy. 

In this episode, Rob tells us how he accidentally got into real estate investing, how he started in flipping deals, and why he is not doing that now. He will also discuss wholesaling, the difference between a realtor and a wholesaler, and the advantages of creating a legal basement suite, and how it is possible to pull out 100% of your down payment as a cashback. 

Topics Covered:

1:18 – Rob’s backstory and how he got started on the real estate investing  3:23 – Rob tells how things progressed, how he got interested in flipping houses but ended up flipping the purchasing sale agreement which is otherwise known as wholesaling 5:36 – Rob explains why people get interested in doing wholesaling and tells us the key to doing it 8:27 – He explains why he is now against house flipping and recalls the time he did it and regretted it 9:37 – Rob tells us why long time investment is where he wants to be and why he ended up looking for properties where he could have a legal basement apartment to it  11:18 – Importance of the legalities of the suites and why it is safer and far from liabilities 13:37 – Rob shares his view on rent to own type of deals and the investors 15:20 – How he managed to pull 100% of their down payment and get a rental cashback  16:03 – He tells us the things he would do differently if he could do everything over again: the deals he passed on and the things he should focus on more 17:45 – Rob tells us about his podcast, Breakthrough Real Estate Investing podcast and what it is all about

Key Takeaways:

“We try and dig deeper into things as much as you can. I mean it’s pretty tough to, a lot of people complain that they don’t get all the answers but you can’t even get the answers in three-day seminars or two-year courses. It’s an ongoing learning process and that’s what we’re trying to do every day.”– Rob Break

 

Connect with Rod Khleif:

 

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