Los Angeles, CA · Member since 2019 · 11 posts · 3 votes
Hello BiggerPockets community! I’m new to this forum and thought it would be a good idea to introduce myself and maybe get some tips on where to start out. I live in Oregon as an actor at the Oregon Shakespeare Festival and am interested in real estate investing as a part-time way to make more money. I’ve listened to many of the BP podcasts and have browsed some posts here for thoughts on starting out. Are any of you invested in Oregon and maybe just completed your first few years of investing? I’ve been searching realtor.com and Zillow for properties in Eugene, OR that will cash flow but I’m fairly new to this so I dunno if I’m even looking in the right place. Hit me up if you have time. I’d love to connect with likeminded people in my area. Thanks!
Eugene, OR · Member since 2018 · 13 posts · 5 votes
7y
Hey Moses, welcome! I'm in the Eugene area as well and fairly new to the business. From my limited experience, the market here is high and most of what is listed on the MLS is overpriced, with rents often undermarket and the new rent control law preventing bringing them up to market quickly. That said, there's opportunities in any market, you just won't find what you hear about in the Midwest, you have to set your expectations accordingly.
Specialist · Los Angeles, CA · Member since 2019 · 587 posts · 269 votes
7y
Welcome to BP, @Moses Villarama. Congratulations, you have found one of the most valuable free resources on the internet for real estate investors new and old. We are happy to help you in any way we can.
Eugene, OR · Member since 2018 · 13 posts · 5 votes
7y
Hey Moses, welcome! I'm in the Eugene area as well and fairly new to the business. From my limited experience, the market here is high and most of what is listed on the MLS is overpriced, with rents often undermarket and the new rent control law preventing bringing them up to market quickly. That said, there's opportunities in any market, you just won't find what you hear about in the Midwest, you have to set your expectations accordingly.
Rental Property Investor · Saitama, Saitama Prefecture · Member since 2019 · 14 posts · 5 votes
7y
Hello @Moses Villarama !Welcome to BP! I also recently just joined as well. Although I currently live in Japan I'm from Oregon so I'm looking to do some investing there since I know the area. Although I do hear the West Coast is good for flips and the Midwest is better for rentals.
What type of properties are you looking into investing?
Hello BiggerPockets community! I’m new to this forum and thought it would be a good idea to introduce myself and maybe get some tips on where to start out. I live in Oregon as an actor at the Oregon Shakespeare Festival and am interested in real estate investing as a part-time way to make more money. I’ve listened to many of the BP podcasts and have browsed some posts here for thoughts on starting out. Are any of you invested in Oregon and maybe just completed your first few years of investing? I’ve been searching realtor.com and Zillow for properties in Eugene, OR that will cash flow but I’m fairly new to this so I dunno if I’m even looking in the right place. Hit me up if you have time. I’d love to connect with likeminded people in my area. Thanks!
Los Angeles, CA · Member since 2019 · 11 posts · 3 votes
7y
@Ashley Ohno From what I’ve read, flipping takes a lot of time that I don’t have. Full-time I’m an actor, so I think rentals is what fits my lifestyle. I’m not sure I can find good deals in my local area, so I’ve been more focused on long distance investing.
Realtor · Indianapolis, IN · Member since 2017 · 87 posts · 48 votes
7y
@Moses Villarama
Welcome! I live in Eugene and have invested in both flips and rentals here. I agree with Thomas that the market is very high right now and that Oregon rental laws are discouraging for landlords. For that reason, I sold my rentals here and am reinvesting in the Midwest where I can get better cash flow, low cost of entry and much friendlier business/landlord laws.
Los Angeles, CA · Member since 2019 · 11 posts · 3 votes
7y
@Lauren Perry Thanks! What resources helped you get started with long distance investing? I’m looking to educate myself further since it seems that my local market of Medford, OR may not be ideal for finding deals that make sense.
Realtor · Indianapolis, IN · Member since 2017 · 87 posts · 48 votes
7y
@Moses Villarama I listened to plenty of podcasts to figure out what to look for in a market, narrowed it down to a few cities and eventually chose Indianapolis because I happen to visit periodically for work and felt a little more comfortable knowing I could see the properties every now and then.
From there I found some like minded out of state investors through the BP forums and eventually joined some Facebook groups where I’ve become networked with dozens of people doing exactly what I’m doing in that specific market. It’s been really valuable to have people I can learn from and share stories with who know the market and have resources to share with the group. Much easier than trying to build everything up on my own.
Rental Property Investor · Eugene, OR · Member since 2017 · 16 posts · 4 votes
7y
Hi Moses, check out the local REIA meetups in Medford if you haven't already, they're once or twice a month, come by and introduce yourself. There's one next Friday on investing w/ hard $$. https://www.meetup.com/Rogue-V...
Los Angeles, CA · Member since 2019 · 11 posts · 3 votes
7y
@Jordan Beckett I saw that and want to go, but I’m performing that night at OSF. I’ll have to look out for the next one. Are there online groups/forums?
Eugene, OR · Member since 2018 · 13 posts · 5 votes
7y
@Moses Villarama I've started investing here in Eugene and nearby. Down the road who knows where things will go, but for now, while working full time, having a family, and just getting started in this REI, I prefer to reduce what I have to learn in terms of markets and contacts. To Lauren's point, the cash flow isn't what you hear others getting, and the recent laws haven't made things easier. But at my stage, getting experience is more important than maximizing ROI.
Los Angeles, CA · Member since 2019 · 11 posts · 3 votes
7y
@Jordan Beckett I’d love that. Are you into seeing theatre? If so, I could get you a pair of tickets and we can chat after. I’m open to coffee or lunch too. Thanks!
Hi @Moses Villarama! Welcome to BP. I know you are looking to invest outside of Oregon. I am currently investing outside of my state of New York as well. Have you thought of buying homes in Indianapolis, Indiana?
Los Angeles, CA · Member since 2019 · 11 posts · 3 votes
7y
@Christopher Petrillo I haven’t considered that yet, but I’m open to it. I’ve tried to keep my search options to cities where I have friends or family. Are you finding success in Indianapolis?
@Moses Villarama Indianapolis has a lot of up and coming neighborhoods that you can buy homes for cheap and fix and flip/hold. I am finding a lot of success in this city. Please if you have any questions let me know!
Los Angeles, CA · Member since 2019 · 11 posts · 3 votes
6y
@Christopher Petrillo Thanks for the tip. I'm nowhere near Indianapolis. Are you a local investor? I'd love to find out more. I've heard a lot of good things about Indianapolis.