Newbie(ish) in Salem Oregon

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Newbie(ish) in Salem Oregon

Cameron Hunt
Member since 2020 · 36 posts · 13 votes

Evening Everyone!

Excited to have found this site! I say newbie(ish) because I did at one time have an accidental rental in the Portland area for several years (2007-2013), sold it due to separation. Spent last 12 or so years working in investment management (stocks and bonds mostly) and am now getting ready to jump back in to real estate!

I’m currently working on rehabbing (minor)an existing property I have and should come out with some decent cash after I sell it which will hopefully happens in the Spring.

I'm most interested in buy & hold for cash flow, I'm intrigued by the BRRRR strategy as well. Based on what I've heard in the podcast and read here finding off market deals will be the key to making this whole thing work, especially in this area (it seems to me).

Looking forward to getting to know folks.

Thanks!

Cameron

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Investor-friendly agents in Salem, OR

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Most Popular Reply

Cody Paratore
Rental Property Investor · Salem, OR · Member since 2020 · 33 posts · 19 votes
6y

@Cameron Hunt It will be a house hack. It is the first house my wife and I have bought. Plan is to live there for a year or so and then begin looking for the next one while keeping it for a rental.

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  • Account Closed
    New to Real Estate · Salem, OR · Member since 2020 · 11 posts · 3 votes
    6y

    @Cameron Hunt

    Hey man cool to have another BP member in salem OR! Ive lived here for almost a year with my family. Still need another year of work history before i buy my first property du or tri plex.

    0Reply
  • Adeyemi Opeifa
    Member since 2020 · 4 posts · 2 votes
    6y

    @Cameron Hunt

    I am also interested in BRRRR deals in the Salem Area. Are you looking for any deals right now? What processes are you using to find them, if so.

    Happy BRRRRing

    0Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    6y

    Welcome to BiggerPockets Cameron!

    Podcast Guest on Show #121
    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    6y

    @Adrian Delatorre Hi Adrian! Where’d you move from? What are you looking to buy?

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    6y

    @Adeyemi Opeifa I’m not actively looking right now. I’m reading a lot right now, next up is the book on estimating rehab costs.

    I’m considering writing letters once I do begin.

    How about you?

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    6y

    @Andrew Syrios Thank You!

    1Reply
  • Adeyemi Opeifa
    Member since 2020 · 4 posts · 2 votes
    6y

    @Cameron Hunt

    Other than the book on Rehab costs, which other books are giving you the tools to flip these properties ?

    I’ve heard in Salem that Direct mail, signs, and cold calls are very scarce at the moment, so that might be a good direction to go. Right now i’m driving for dollars then skip tracing to cold call, and asking my agents for deals in my in area. Let me know when you’re ready and if you have any tips for deal-flow.

    1Reply
  • Account Closed
    New to Real Estate · Salem, OR · Member since 2020 · 11 posts · 3 votes
    6y

    @Cameron Hunt

    I moved here from Moreno Valley California. Property values are through the roof there even before this boom.

    I'm trying to house hack with my family by buying a tri or four plex and moving into one of the units. Then use the BRRR strategy to rinse and repeat. I'm working for UPS and working on my real estate license so I can represent myself. Right now im learning as much as I possibly can about real estate before the coming crash.

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    6y

    @Adeyemi Opeifa I’ve been pretty much relying on the bigger pockets bookstore and recommendations from members and podcast guests. I have a friend that’s a contractor (mostly commercial though) and have been using him as a resource too.

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    6y

    @Adrian Delatorre that sounds great! I’ve thought of the house hack idea but will see what happens.

    0Reply
  • Account Closed
    New to Real Estate · Salem, OR · Member since 2020 · 11 posts · 3 votes
    6y

    @Cameron Hunt

    Yeah rent is our biggest expense so I need to eliminate that to invest in more properties and rehabs

    0Reply
  • Cody Paratore
    Rental Property Investor · Salem, OR · Member since 2020 · 33 posts · 19 votes
    6y

    Welcome to BP and the Salem area. I think off market is the way to go and will definitely go that direction on the next deal. My wife and I are currently under contract on our first house (duplex) in Keizer. Took us 5 months to finally get an offer to stick. Plan is to close in early November! 

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    6y

    @Cody 

    @Cody Paratore Congratulations on the first deal! Are you house hacking the duplex or renting out both sides? 

    0Reply
  • Cody Paratore
    Rental Property Investor · Salem, OR · Member since 2020 · 33 posts · 19 votes
    6y

    @Cameron Hunt It will be a house hack. It is the first house my wife and I have bought. Plan is to live there for a year or so and then begin looking for the next one while keeping it for a rental.

    1Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    6y

    @Cameron Hunt

    Welcome to BP community! It is a great place to meet new friends and learn about various aspects of real estate and more.

    Read Beginner’s Guide to help you get started: http://www.biggerpockets.com/real-estate-investing

    I hope BP helps you achieve your goals!

    0Reply
  • Chris BlackburnPro Member
    Developer · Salem, OR · Member since 2014 · 193 posts · 111 votes
    6y

    Welcome!  We need (mitigated) risk takers like you in Oregon!  It's a long walk but worth the journey!  

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    5y

    @Dmitriy Fomichenko thank you! I’ll check out the guide for sure.

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    5y

    @Chris Blackburn Hi Chris! Looks like you’re local to Salem? If you’re up for a socially distanced coffee sometime let me know!

    0Reply
  • Justin Lester
    Rental Property Investor · Salem Oregon · Member since 2020 · 19 posts · 2 votes
    5y

    Welcome to Salem!

    My wife and I are investing in Salem as well. Closing on a duplex by election day.

    The local REIA group is fire! Though COVID has sent it virtual. We would love to collaborate and give and receive encouragement.

    Currently we're researching creating a template for Limited Partnerships to raise more money one property at a time, preferably in the Mid-West...

    0Reply
  • Adeyemi Opeifa
    Member since 2020 · 4 posts · 2 votes
    5y

    @Justin Lester

    How have the REIA meetups been? I've yet to attend but that's something I'd love to do.

    1Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    5y

    @Justin Lester nice to meet you! Yes let’s collaborate. 

    1Reply
  • Justin Lester
    Rental Property Investor · Salem Oregon · Member since 2020 · 19 posts · 2 votes
    5y

    Adeyemi the REIA meetups have been the best motivator and educational use of time.

    Especially the Salem meeting has a rare mix of helpful and experienced people who help everyone.

    I remember our first meeting there 2 members were chatting in side conversation and later they apologized and explained that they went under contract right there in the meeting one bought the other ones property.

    Its virtual at the moment, and I would try it, but especially check it out when we're back in person

    0Reply
  • Larry Fried
    Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    5y

    Welcome @Cameron Hunt to BP. I am a little south of you in beautiful Eugene! I've been involved in REI since 2012.

    0Reply
  • Cameron Hunt
    OP
    Member since 2020 · 36 posts · 13 votes
    5y

    @Larry Fried nice to meet you! I lived on East 19th while attending U of O! Love Eugene. 

    0Reply
  • Larry Fried
    Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    5y
    Originally posted by @Cameron Hunt:

    @Larry Fried nice to meet you! I lived on East 19th while attending U of O! Love Eugene. 

    Ah a Duck! I just sold a house on E 19th last month, between Orchard & Villard.  Now being rented to UO students.

    0Reply
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