All Forum Posts by: Cody Lewis

Glad to see everyone is mostly in the same camp of "no one knows", because no one does. If they say they do, it's speculation at this point. There might be signs saying it could change but, that does not mean it will. If interest rates start to creep up again, maybe just maybe there is some correction but again, no one knows. Underwrite conservatively and don't get over leveraged.

Sounds like the result you want should dictate return on the investment. I would go with that if your ultimate goal is to retain ownership and have the largest equity share.

Love Tom's Book but IMO hire a great CPA. That will be better than any book you can read. 

MF mainly because of the scale and move people with less roofs.

I can tell you everyone's journey is different. Some grew up in REI, some started small then scaled, and some others hired mentors. What is right for them may not be right for you. Reading your post, you seem incredibly motivated. There are some many options: work part time in both until you're on your feet in REI, go head first, etc. The net of it is, it sounds like you need to make a decision one way or another and move forward with it. Decisions are seen as good or bad in hindsight because we have perspective and information we don't have in the present. Personally, I like having a coach to help hold me accountable and push me when I may be dragging.

To everyone's point in the thread, it's a balance of both. Analyzing a deal is science and art. 

That said, I've yet to find a "simple" way to look at all the information to determine if it's a good deal. You could likely find someone people willing to share some of the tools they use to evaluate deals but the big thing is, where do you feel comfortable with the numbers needing to be for it to be deemed "good".

If you're not interested in doing it or not great at doing it, you could always hire someone to do it for you. There are tons of companies that specialize in this. If you need the presence, it's likely worth paying for to do it right.

Is this a value add property you're looking at taking down? If so, you may want to think of having enough capital to cover CapX and potentially any other items that pop up after you purchase. 

REI groups and other ways of networking with people or teams that are already investing locally, is usually how we start. Understanding local laws, brokers, etc. is key to going beyond your initial research IMO.

Rich Dad Advisors: ABCs of Real Estate Investing and Best Ever Real Estate Investor Book, Volume I are my favorites.