All Forum Posts by: Jeff Wright

Thanks for your input Clark. I appreciate it. Finding the right area will determine the price range for a B or C property. But more research to do before finding the right area. 

I think cash will be king until the trip is over. But moving forward is mpre important still than stalling.  Tha ks for your reply.  Good information.  

I have spent more than enough time reading books, watching podcasts, and doing all things a good noobie should be doing. Very comfortable running numbers, checking neighborhood and school numbers, working with comps, etc. And in last years life building teams and working tough situations for successful outcomes. 

What I need help with the most and ask for your help with is:

1. Where. I travel, so Im not opposed to traveling to new city to build team and do my due diligence with out of state investing. But what are areas primed for a good rental future? What areas are so saturated or watered down with renters that they are now less appealing? Long term rental is my plan A. Would a wholesaler in this location be a good way to find deals over the MLS? Your experience is your crystal ball, so what say you?

2. Financing. I took a year off work to travel with family. And loving it! So I have no employer right now, but have solid work and credit history. I also have a pocket full of money. Would love to find several 30-50k multifamily homes and pay cash, or better would be to find a great flexible lender. I call it semi-retured; Banks call me unemployed.  But even still, I need to crap or get off the pot!

3. How long did you research and analysis paralysis yourselves before you made your first move?  A year from now I will be back in my chosen profession as I was for the previous 15 years and financing will be better.  But a year from now I could also own 10 doors already too! 

Thanks all!  

How are things going @Clayton W McGehee?

Thanks for the reply @Sam Shueh. With the return put on the side, do all of the other numbers I used to fill in the questions look correct? I understand that it is normal for property management to take about 10%? Biggest thing is making sure I am doing the numbers correctly! Also, is the Cash on Cash ROI the number the holy grail of numbers to increase?

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*This link comes directly from our calculators, based on information input by the member who posted.

I surely will start making that happen prior too.  It sounds like it wont be as hard as I thought. Still a bit more difficult but doable.  Any other avenues you have used when you needed some kind of strange financing? 

So after 10 years in my profession my wife and our 8 kids (yes 8 kids) have decided to travel for a year or so in our very large RV. With 200k in the bank (150 invest, 50 travel) we would like to move from just stock investing to RE. I have lots of construction background and business experience in government but no actual RE experience other than the purchase, rehab, and sell of our current home. My question is with funding. Obviously financing a new home without a current employer would be more difficult than having one, but what are my options for financing without employment over the next year? I'm in a position where I would rather be leveraged than spend it all in one place. Opinions? And thanks.

This was posted prior but with only one appreciated comment so I'm reposting it here with a new title! 

Thanks for that @Lexi Teifke.  I dont know a lot about private lending so thanks for sharing.  I will reach out to you with questions as they come up if that is ok.  We are getting closer to pulling the trigger, but not quite there yet.  

So after 10 years in my profession my wife and our 8 kids (yes 8 kids) have decided to travel for a year or so in our very large RV.  With 200k in the bank (150 invest, 50 travel) we would like to move from just stock investing to RE.  I have lots of construction background and business experience in government but no actual RE experience other than the purchase, rehab, and sell of our current home. My question is with funding. Obviously financing a new home without a current employer would be more difficult than having one, but what are my options for financing without employment over the next year?  I'm in a position where I would rather be leveraged than spend it all in one place.  Opinions?  And thanks.