All Forum Posts by: Wale Ajayi

Absolutely, in any ways you want to connect.

@Nathan G. Thats some hard-core Dave Ramsey teaching. Preach it, am with you.

@Rick Albert There are different phases in this investment game. At a certain stage, all you care about is accumulating and collecting all the available good investments. Hopefully, the foresight to begin with the end in mind is in the picture.

Then comes (phase 2) the "mid" stage when we have collected as much as you need to achieve our goal(s) or even achieved these goals. This is that stage I believe most people start thinking of paying off and most appropriate ways to "declutter" debts. This is most applicable to non multifamily REI.

In the final stage, we have achieved mortgage paydown (hopefully, payoff), enjoyed cashflow, depreciation and tax savings along the way, and we are ready to become less active in the game.

This may explain @Chris situation. At a point, most investors thinkin will shift towards payoff, and that's normal.

@Bob E. As a professional investor who teaches retail investors, I tell people to run and be careful when people tell them "this time is different". We'd all see how things unfold this time, best guess it will just like the last time.

@Giselle Black What if this long awaited crash doesn't come, would you be on the sideline for so long? It's mainly about the numbers, if the numbers work great, make sure you stress test them for good and bad times, then sign deal, and keep on building your wealth. The crash may start tomorrow (who knows) or we still have a long way to go on the cycle, whatever you do, remember one of the oldest REI clichés, you make money when you buy. Buy right!

@Russell Brazil hahahah

@Brian Ashley Austin Thanks Brian, its very helpful.

Hi Brian, your post couldn't have come at a better time than now.

I recently joined BP after getting education that I believe is enough to get started in RE, and have been looking at properties mainly in my city (Edmonton or nearby cities e.g. Calgary) - fyi, I am in Canada, and you probably don't follow the RE market here. Anyways, I am looking at a 12 unit listing that has been on the market for close to months, and using list price to calculate cashflow on the property (using the BP calculator), it doesn't look good, though my assumption on vacancy rate and management may be high at 10% whereas the agent said vacancy is 3% in the area compared to the City average of 8%. I have had the realtor follow up frequently and I sense the buyer is motivated, so I may be able to get a better deal. I know I can be successful in the RE game, but trying to be cautious before making a mistake that will leave a deep scare. One of my questions is, as I haven't built a team yet, is it advisable to use team members of other investors in the city? Also, if possible, I can connect with you on a call to analyze the deal.