All Forum Posts by: Tim Lounibos

Thank you @Chris Davidson. That seems sound advice and I appreciate it. I'm planning on holding as a rental so a downturn doesn't concern me in terms of appreciation. I'll wait till the market is higher at some point in the future before ever selling. Just want to avoid not having a worthwhile escape for my cash and thus being limited from turning around to invest more. With that in mind, what are your thoughts on All-Cash & Refinance vs. Traditional Lender for the initial buy? Short-term goal is my wife being able to retire within six years. Long-term goal is providing generational wealth. For the initial investment, I can afford up to $150k for purchase and rehab (with a cash reserve in place for unexpected expenditures). I'm leaning towards the initial property purchase being all-cash so that I have an escape for my money and repeating the process...

@Taylor L. It's more of a gut feeling in terms of seeing a few downturns/crashes during my lifetime (maybe every 15 years or so) combined with seeing warnings of a current stock market bubble and the ongoing pandemic (imagining this is the last major stimulus coming up) and our struggle to contain it (variants in Europe are concerning). Don't have a really great answer for that one, no crystal ball...just my gut based on cycles and current circumstances. Very well could see another year or two rising market but just don't know. Curious on what other people think, though, before I dive in.

Hey BP Community: 

I'm about to purchase my first rental property (will start offering mid-April when all my financing, cash reserve, and 2nd reserve source--i.e. heloc is in place). Finalizing my plan of action and leaning towards all-cash purchase and then cash-out refinancing after seasoning period (amount of repairs/rehab will depend on property--spent the past month studying up on BRRRR, REI, etc). A concern that's nagging at me is that I'll be buying when the market is probably near its peak and might drop during the seasoning period before refinancing. SO which course seems most prudent during these times: ALL-CASH OFFER with the accompanying purchasing benefits and intention for refinancing off a higher ARV vs. LEVERAGING the purchase with traditional lender from the beginning and avoiding a major hit within that six-month window? Any and all thoughts are much appreciated, THANK YOU!

@Mary R. I’m seeing this in 2021 but imagine it still generally applies. Thanks!

@Kyle Hanson Just wondering if you found a worthwhile Property Manager?

@Richard Bull Please see my post to Peter, above. Would love to connect virtually to get the lay of the land before I start investing. Thanks, Tim

@Peter Aziz Hey, Peter, just wondering if anyone is doing virtual meetups in the SCV area. I'm a new investor. Strongly leaning towards out-of-state investment but would like my first BRRRR property to be in the So Cal area if possible. Thanks in advance for any info on making connections in this area.

@Jin Kim and everyone else in this thread, just following up to see if any type of networking is going on for the Santa Clarita area... I'm also strongly considering investing out of state but would like my first BRRRR property to be somewhere in So Cal if possible. Appreciate any and all replies, thank you.

@Jin Kim Hi, I'm just getting started and putting together my rei strategy, right now. Planning on making initial offers by late March/early April. Still determining type and location. Would love to be a part of any upcoming virtual gatherings. Please let me know if you guys have any upcoming meetings or if you're networking in any other format where I could get involved. Thanks!

Hey, guys, this thread has been dormant but I'm just getting my feet wet and learning the ropes. Several weeks away from investing but wanted to find out if you ended up forming a networking group that I could learn about. I'm in the learning phase right now and strategizing my rei plan and plan on making initial offers by late March/early April. Thanks for any guidance!