I could use some honest advice. I'm 54 with a W-2 job at a non-profit organization and I honestly love my job and people I work with and for. I've spent the greater part of the past 5 years learning and educating myself in all things RE and investment. I've read all the books and listen to podcasts, as well as constantly scouring all the listings. I joined my local REI group, NCREIA a few months ago and it's been helpful in my RE education and caché. I have a fairly good idea of a strategy and ideal locations. Here's my issue or at least the biggest. My husband is highly risk-averse. My risk tolerance is a little more moderate. He is also looking to retire in 5 years and has no desire to take on any debt - good or bad, nor does he have any desire to be a landlord or property manager. He is onboard as long as any investments we might entertain is financially feasible and that our assets might be protected from lawsuits. I want to be able to figure out how I might be able to invest in RE on my own - using my own income or LLC. I'm not at all deterred. I'm an AF veteran and so I have VA entitlement. I have great credit and a modest savings. I would, however, prefer to use OPM if that's still a thing.If it's helpful, here's my why's. RE has been so fun and exciting to learn and follow even though I haven't even dipped my toe in! I want to be able to use all the knowledge I've garnered from my reading and research, podcasts, blogs, and relationships. I'm not ready to retire but when I am, I would love to be able to semi-retire/transition to RE investment and be able to add this as a means of wealth generation for our 2 kids. Additionally, it would be a way to help provide housing for people.Thanks in advance for anyone willing to chime in.

REI deal considering risk issues and your existing resources. Change any assumption I make. Since I don’t know your life. 1. If your kids are in the military teach and help them to use BAH to become millionaires by 40. 2. Use your kids as part of your investment strategy as renters. 3. Use military renters to reduce tenant risk of damage, rent non payment, getting them out of the unit if issues come up. Just call their commanding officer. 4. With your AF background and in the Raleigh area get your RE license and specialize in BAH housing deals. 5. Primary residence capital gains. 2 out of 5 years. Use your current house and future residences and take advantage. Just making this up, but you might have to do 10 rental units versus 1 primary flip to be equal after taxes. 6. Cash snowball. Recommend you do some primary residence flips or BRRRs to get your cash flow going. Although you could invest with low downpayment recommend you don’t with higher interest rates. To manage your cash flow. 7. Value add- look for 2/1 or 3/1 you can add an ADU room or bathroom. Can split a lot off. 8. Baby Boomer REI investors. Find an investor who is ready to get out of the business. Start buying their properties. Give them solutions. 1031, installment sales for tax purposes, revenue stream for them, tired of managing, no RE fee, etc. Pick an area you would like to invest. Go on your city or county property GIS map. Start looking at properties in that area. Look at the bottom. They will list related PID properties. Look for someone who has a bunch. 10 or more. Look at those properties. Reach out to the owner and see if they would like to build a relationship and start transitioning their REI to you. 9. Older people- during the lead fall and snows. Drive the areas you like and see who doesn’t clean up. Approach them. Go to a great neighborhood and pick the worst house. Look in the obituaries from a year or more ago. Find their house and see if you can buy from who inherited. Since they got stepped up basis, no tax issues. Plus if kids they probably live far away and don’t want the house. 10. Look for daycares for sale or old small elementary buildings for sale. Small flat roof churches. Convert to rentals. Look at your self and your assets/strengths. Look for an unfair advantage. With the high interest rates and the internet steam to do REI competition look for a different approach. Don’t bid against the world on 3/2 properties.

Am I too late to the game?

Peter MckernanBusiness Member

Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes

1y

First off thank you for your service! The person that comes to mind after reading this is Dave Ramsey, not about investing with no debt. He talks about getting your spouse on board with savings, paying down debt etc. This is the same thing, you need to get your husband on board, and make sure he is good with everything to be able to have a great relationship now and going forward. I would really get him on board by whatever way is good for him, going to conferences, meetups, reading books and more with you. Being able to share in the experience is the best and be able to lift each other up through the process is the best thing that would set you both up for success going forward.

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Michael K GallagherBusiness Member

Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes

1y

@Janet Anthony it sounds like you are interested mostly in actually owning the hard asset which is great but that is generally the most "active" form of investment. But if that's the way you would like to go then the lowest risk is going to be a newer or newly remodeled asset in a generally good area, that maybe has some appreciation in the 10-20 year time frame. Selecting your market will be interesting as I'm sure you have insights into the military and those types of housing arrangements so perhaps a niche there to tap into based on your existing expertise....but regardless to address your question you are not too late, and investing is a spectrum, ranging from flipping to buying stocks in a REIT, and it all works, just depends on your preferences and style really.

Am I too late to the game?

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