Should I Start Investing Now Or Later?

[Niki Jacobs]

Hi Everyone, 

My husband and I wanted to start investing either in house flipping, or buy and hold. We have over 30K in our saving, but the problem is that he lost his job a few months ago. He was a financial analyst at an oil and gas company. I do have a real estate license, because we were planning to make an income from both our investment properties and my commission when we buy properties on MLS.

I noticed that private money lenders or hard money lender may be able to loan money to people with no income, but still may look at whether the borrowers have few months reserved in their bank account. 

Should we wait until my husband get a full time job again, or should we just go for it? 

I would greatly appreciate any input on how we can figured out what to do in this situation. 

Thank you, 

Niki 

[John Thedford]

If you can get money at rates that work, invest. One of the most successful investors I know, owning over 600 SFR, states there is NEVER A BAD TIME TO BUY, ONLY TO SELL. He owns millions in RE and has been buying in good times and bad. If you invest, remember the #1 rule: you make your money when you buy. It makes no sense to pay market value and HOPE for appreciation. Buy and hold is a great way to build sustainable income.

A HML SHOULD look at ability to repay using the 3 C's
1. collateral value
2. Capacity to repay
3. character of the borrower (do they pay their bills)