All Forum Posts by: Tim Lounibos

Thanks, Peter, I ended up investing in Wisconsin. So far, so good. 

Thanks @Stacey Ocampo, sounds great. I’m actually in Sonoma visiting family. I’ll message you on Tuesday where I’m at in the process and then we can see if the So Cal agent makes sense. Thanks!

@Fadwa Hilili You got it. 👊🏼

@Fadwa Hilili My wife got her master’s and loan payments began in Jan 2020. Fed Loan. We’ve been in forbearance during the pandemic and probably won’t start paying again till September. Refinance our house last month and now going for a heloc. Has not come up as an issue at all and our rating is in the 800s.

Shows the balance, high credit, schedule payment as zero, and past due as zero on the credit report. No issues.

Thanks @Eric Schultz and after considering the stimulus passage, where we're at with vaccines and such, I agree with there being more appreciation juice left in the market. I think our economy is waiting to bust loose with a bunch of activity. Means rates will eventually go up but I'm guessing it'll be done in a very measured way. With that in mind, it seems worthwhile to get as many properties as I can now...

@Tucker Cummings Got it, thanks. Makes a lot of sense. I actually just applied for a heloc last Friday and am waiting for that to be approved. Guessing that process will take me into early April, so that's why I'm planning on making serious offers beginning mid-April. 

I'm looking for SFR & MFU up to $125k. My original intention was to follow the BRRRR method and purchase the initial property with all-cash and then refinance through a traditional lender off the ARV and repeat the process... but am now considering the idea of getting several properties with just using down payments. Either way, I'm planning on purchasing to hold as rentals for cash flow. I can't do this in my area because my pockets aren't big enough, yet, so am looking to the midwest--specifically Wisconsin. Thoughts? Currently in the process of creating a team over there that includes a PM.

Oh, wow, sorry especially for your home but sounds like you escaped with minimal damage to your rentals. Congrats on that! 

Are the rates different between financing from the beginning vs. cash out financing sometime after close (other than normal rate hikes that would occur when the fed adjust rates)?

Thanks @Tucker Cummings. I don't have a fear of buying and do intent to hold for the long haul. I very much appreciate your analysis and will definitely keep it in mind as I go forward. The main thrust of my question was whether or not I should pay in all cash (this would be my own cash) and then refinance off an enhanced ARV or finance from the beginning. Another aspect I hadn't considered (and I realize there are other financing options that I need to further explore) is that lending might be harder for out of state investors. Is this a common issue? Either way, I will begin making offers mid-April so will continue to educate myself until then. Thanks, again!