Newb in Lake Oswego (Portland), OR

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Newb in Lake Oswego (Portland), OR

Chris Pebley
Lake Oswego, OR · Member since 2014 · 3 posts · 1 vote

Greetings All!

Finally getting around to an intro and using the web site and forums more.

About 2 years ago I listened to a few dozen podcasts as a way to learn more about the possibility of investing in real estate (fix and flips or rentals). Before I pulled the trigger on anything we moved from Columbus, GA to the most expensive city in Oregon (Lake Oswego, $400K gets you 1,000 SF fixer here). So I am leaning towards limiting my RE investing goals for the moment to trying to simply find a home for the family. So I am here to refresh my RE knowledge and come up with a plan. Any and all advice is welcome.

Thanks everyone for your time in helping others on the forums, BP is a great resource! Such a wealth of knowledge here.

All the Best,

Chris Pebley

P.S. I have the VA loan available but was interested in finding a good investment as well, so curious if anyone has had any luck with foreclosures or pre-foreclosures meeting the VA/FHA guidelines, and the best way to find them (Property Radar or similar app? Thanks again!

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John Lai
Portland, OR · Member since 2016 · 13 posts · 4 votes
9y

Hi, @Chris Pebley,

I'm a fellow LO resident renter who hasn't pulled the trigger on a home purchase yet, and also interested in REI (mostly passive investing but also advanced financing solutions). Coming from the CA Bay area, I thought the home prices would have been lower but not in LakeO. That said, we came here for the schools and don't regret living here for our kids.

PM me if you're up for getting together some time, pooling our knowledge, and figuring out if there are opportunities.

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  • David Goings
    Specialist · Columbus, GA · Member since 2016 · 146 posts · 54 votes
    9y

    @Chris Pebley come back to Columbus GA! Or possibly invest here from out of state? 

    0Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Chris Pebley

    You have come to the right place to connect with the wide array of real estate professionals and investors. Make sure to view the Bigger Pockets book store: https://www.biggerpockets.com/store

    0Reply
  • Adolfo Cuellar
    Real Estate Broker · Portland, OR · Member since 2015 · 39 posts · 16 votes
    9y

    Hey @Chris Pebley, 

    Why Lake Oswego? 

    I know it well. In some ways it's worth it's price point. Are you looking to use the VA loan for a different spot in Portland?

    Have you looked at Brooklyn (a neighborhood in Portland)? 

    0Reply
  • Peter Woodward
    Rental Property Investor · Seattle, WA · Member since 2011 · 23 posts · 3 votes
    9y
    I'd get creative and ask around for seller financing.
    0Reply
  • Steve Milford
    Lender · Vancouver, WA · Member since 2015 · 482 posts · 316 votes
    9y

    @Chris

    My recommendation is to find the best property you can for your money that meets your need for your family. Get out of the house and look at, smell, and feel available properties until one stands out for you. Then go with your gut. Lower-priced homes go extremely fast, yet every area is growing for the most part. I am all for house hacking but a bigger goal might just be stable housing costs.

    Steve

    0Reply
  • Chris Pebley
    OP
    Lake Oswego, OR · Member since 2014 · 3 posts · 1 vote
    9y
    Originally posted by @Steve Milford:

    @Chris

    My recommendation is to find the best property you can for your money that meets your need for your family. Get out of the house and look at, smell, and feel available properties until one stands out for you. Then go with your gut. Lower-priced homes go extremely fast, yet every area is growing for the most part. I am all for house hacking but a bigger goal might just be stable housing costs.

    Steve

    Great advice, Steve! That is where I am leaning toward's especially since I have the VA available meaning I can keep my cash on hand for some form of investment when I find it.

    0Reply
  • John Lai
    Portland, OR · Member since 2016 · 13 posts · 4 votes
    9y

    Hi, @Chris Pebley,

    I'm a fellow LO resident renter who hasn't pulled the trigger on a home purchase yet, and also interested in REI (mostly passive investing but also advanced financing solutions). Coming from the CA Bay area, I thought the home prices would have been lower but not in LakeO. That said, we came here for the schools and don't regret living here for our kids.

    PM me if you're up for getting together some time, pooling our knowledge, and figuring out if there are opportunities.

    1Reply
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