All Forum Posts by: Tim Clark

We plan to start our REI journey and curious what we need to watch out for with inflation. I know that inflation is good for properties, but I am sure there are some things to stay away from. Would it be better to purchase a property that is rent ready? Or a fixer upper? Our plan it to buy and hold so perhaps inflation is something that should be ignored and seek out good deals and invest wisely. Looking forward to what everyone's thoughts are!

Thanks Jared! I guess the conventional is the way to go. I am curious how many home loans would a lender give a person considering that everything is flow right? 

My wife and I are planning on moving our family across the country. While we have not started the process, we have started thinking about our options. We intend to finance both a house for ourselves and a MFH. My wife will have to look for a new job while I can keep my current job working remotely. We have met with a lender and she gave us a simple run down without checking our credit to give us an idea. With the amount they are willing to lend to us, we can purchase two properties so that my family does not need to go through the stress of house hacking. We will need to sell our current home that we own outright due to limitations on renting it out due to recent wildfires. While we will have cash to purchase two properties, I would much rather keep the cash in our brokerage account and begin our REI journey. I am not sure what kind of loans to look into. We will have a reduction in wages since my wife will have to look for another job, but our cash on hand will be very good. I would like to get a conventional loan for our house and a commercial loan for the MFH. Any suggestions on what we should do to make this happen? I am not sure the steps that we need to take.

I have been exploring REI and it seems to be a great opportunity to diversify and build wealth. That being said, I know that it is filled with many challenges, like everything in life, and that there are some traits that people have that make them better suited for different types of investments. What would you say are some good traits that helps a rookie REI successful?

Thanks Timothy and Adam! Great advice. When it comes to pets, do you have any restrictions? Adam, you mention you like renting to pet owners. It would be interesting to hear your experience on damage done to the house. I think that making the home work for pet owners does open up the pool of potential renters.

Hi Ryan. Thanks for sharing your thoughts. Good list to keep in mind depending on the needs of the property.

Thanks Brad and Brandon! Great idea about free wi-fi and storage. I see why it is hard to make a generalization regarding amenities because not only does the location dictate certain things, the needs of the property may allow or may not allow for some upgrades because of the ROI.

Thanks Jim! There were other great links in this article too!

Thanks for the explanation. It sounds like C is where I need to start then.

I have been reading some posts and there seems to be a grading system on properties. Can anyone help me understand how to grade properties? It seems that A is the top end and the clients are much different than say the D. Which of one is best for newbies? I imagine somewhere in the middle since, but would love to hear from those experienced. Thanks!