New Member, live in Santa Cruz, CA, looking to invest in Bend, OR
Hi -
I've been interested in buying real estate to buy and hold in Bend, OR, as my household has been priced out of Santa Cruz. Just finished listening to a few podcasts, including the one about "But My Market Is Too Expensive" - episode #257. I was up in Bend in late summer when I started getting serious, and found an agent who I really like (Sarah Brown), and my partner (love interest, not business) and I will shoot up there in mid-April, to hopefully pull the trigger on a property. I've started a loan through a local, too, Kent at Waterstone - he seems like a cool cat as well. Anyone have a solid property manager in that area? Contractor?
My mission - I have a good full time job, looking to retire in 18 years. Have a great down payment from past home.
Our schtick, niche if you will, is going to be families like ours. We're looking for a 4+ bedroom place for the blended family types. Want to be cool landlords, so as to keep our tenants happy and stable for as long as possible. Cash flow neutral or better.
I very much appreciate all the advice, guidance. My main question (today) is around the 70% rule. I just can't really visualize ever getting a deal that good. Maybe a confidence issue or whatever, but it seems improbable to me.
If you know Bend, any thoughts on neighborhoods? I really like Tillicum Village as I think the location is central-ish, lot sizes good, prices reasonable.
Thanks for being a great resource.
Erik