Updated over 9 years ago on . Most recent reply
New Member in Portland, OR
Hi all! New investor living in Portland, Oregon.
I've been a long time follower of various financial blogs like Mr Money Mustache that advocate fugal living, long term investing, and financial independence. I'm at the point though where i've been a tad too successful and find myself with extra cash to invest and I am looking for an alternative from the stock market. Researching places to invest and talking with friends who have bought property has led me to real estate as my next endeavor.
I'm just starting out and currently have about 20k in available cash. I own a condo which has appreciated considerably since I bought it only a few years ago and am looking into a HELOC or Cash out refinance which should give me another 30k to work with. If you have opinions on the best way to raise capital, let me know. I've contact the mortgage broker who helped me with my Condo but i'm not really sure investment properties are his focus so might need to find a direct lender
Property in Portland proper is expensive so i'm looking at communities on the edges or outside of the Metro Area. Not totally sure about my property 'niche' yet. I'm looking at SFH and multi family up to four-plexes right now. Buy and Hold for the passive income stream is the strategy that interests me the most.
Thanks!