Portland, Oregon 50k and needing advice

[Alex Nelson]

Hello, I just sold my first property that was my primary residence for 2 years. I did make a few bucks on the sale but now looking to start my rental property collection. I am very interested in purchasing a rental property and starting my journey but unsure of where to start. Looking for advice / mentorship of how to get the started. I am also interested in learning the ropes of fix/ flip properties and willing to volunteer my time to help an investor out and learn from. Let me know!! Located in Portland, OR.

[Mike Nuss]

@Jay Hinrichs thanks for the shout out. That means a lot coming from you!

@Alex Nelson posting here is a great start. Meeting other investors face to face is even better (and as Jay said, our RareBird Investor Network meetings are a great way to do that). Partnering can be risky and I highly recommend not doing that on a long term hold(or even cycle hold for that matter) with limited experience. You're in a great position coming out of a cap gains tax free proceeds. Learning on a flip is a great idea and probably a faster way to get a good ROI than a rental. However, profit from flips cannot be exchanged (legally) so you'll have taxable proceeds at the end (assuming all goes well :) ).

The great thing about real estate is you have a ton of options (read opportunities). The bad part about real estate is that you have a ton of options (read distractions). It's definitely a double edge sword at times, but that is not a bad thing. Keep meeting and networking with other investors and eventually that right opportunity will pop up and you'll be ready to take advantage of it. 

Good luck!