All Forum Posts by: Phil Wells

@Francois G. People have different goals. If you're in the position where you want to build wealth then leverage and OPM is the way forward.

What if you already have wealth? Buying all cash allows you to preserve your wealth by putting it into a relatively safe appreciating asset class and get strong cash flow from the property. 

One property's cash flow can cover your vacations, a few can cover your kids college tuition, etc, etc.

Wealth preservation is my input.

Good find on the article.

I always tell investor clients of mine that pet owners stay longer and pay more - don't default to no! The only issue I've found comes with insurance companies that won't cover incidents involving certain breeds of "dangerous dogs". 

@Randall Brooks - Make sure to post an update on the duplex renovation with before and after pictures. It would be great to hear about numbers for doing the work yourself vs what you'd bid for a job too.

@Brian Liddy Spokane is a great market right now. I hear a lot of my investor clients talking about Boise as well. They seem to be very similar in terms of demographic, growth trends, migration patterns etc etc.

I sent you a colleague request so we can connect some more.

Very cool - I'm hearing it from every corner of the country in my real estate sales business.

Note to self - look at REI opportunities in Montana.

That's awesome - Montana is stunning. 

@Yury Maslovskiy

Spokane is a great market to consider investing in. I'm working with an ever increasing number of people from up and down the west coast (San Diego to Seattle) who are keen to invest in Spokane.

I just sent you a colleague request and a message - it'd be great to connect.

@Will Kaufmann realtors aren’t obligated to do anything on the buyers side.

A sellers agent is obligated to present offers that are received though. This might be what you’re thinking of.

@Alex Kehaya you're not missing anything. Your agent doesn't understand REI clearly.

Really all she’s saying is “ write an offer that is guaranteed to get me paid”.

Find a new agent and keep doing what you’re doing. It’s your money and you get to spend it however you want.

That being said, listen to an agents opinion if they have a genuine concern and can articulate it based on logic or data - we’re not all bad.

Yes, in the following ways:

- Get an FHA loan (3.5% down) - buy a small MFH and house hack

- Use your VA loan (if entitled to one) (0% down) - buy a small MFH and house hack

- Find someone with more money than you and go into the deal with them, bring your 10K and a lot of sweat equity.

- Buy a REIT - it's still exposure to REI in a way.

Good luck!