Newbie from Bend Oregon

3 Replies

Hello everyone i just found this site and i love it already. it has been my dream to invest in real estate since i was 15, I was on track to start but got caught in the housing bubble and am now just recovering.  i have been listening to the podcast relating to small multi family and also the ones about investing out of area. my trouble with trying to invest locally is that property values are extremely high. compared to the rents. my main goal is to buy cash flow property so this is nearly impossible to do here.  for example an average house that is a 3/2 cost about $200,000 and it would rent for $1,100 a month. any thoughts on this? who else is successfully investing out of their area and what states or cities work best for this? also i heard in some of the podcast about portfolio lenders where can i get more info about this? thanks 

@Sean Monaghan

Welcome.  Take a good look at student housing see below.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

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