Newberg, OR · Member since 2017 · 6 posts · 0 votes
I’m new to investing and I’m looking to jump in to the smaller multifamily units with either a 2, 3 or 4 Family plex. I live in Newberg Oregon and I’m ready to buy if you are looking to sell or know of someone in the Yamhill County area looking to part with their property? I look daily, I’ve started to drive for dollars and will be looking at doing direct mail soon. I joined in September, but got side tracked with work. I just recently started listening to BP Pod Casts and just listened to the 90 Day Challenge just recently. I am worried about getting in with the prices being so high in the entire Portland area, but I’m more worried about not getting in and getting my real estate portfolio going.
Best Regards,
Justin
I am also new to real estate investing and looking to buy a second home in the Newberg area and or possibly Salem. Most of these posts are in 2018 is obviously more expensive now.
Welcome to BP. Are you going to house-hack? Sounds like it. D4D with DM is a good way to start. There's a long checklist of items to prepare before you start your direct mail campaign:
1) Is it scalable (manual letters aren't) 2) Are you using your time in the most efficient manner (handwriting is ok for starting, but you need to hit 1000s of targets to get the responses to grow your business) 3) Is your message correct for that market? e.g. absentee, tax liens, probate, compliance issues, or simply overgrown / abandoned. Your message should maximize your probability of a response 4) Are you hitting enough people? With an average response rate of 0.5%-1% for most campaigns, are you hitting enough houses to expect a reasonable amount of calls to your number? 5) What type of problems are you having? Are you having growth problems in that you can't get enough responses, are hopefully you are having too many responses! Totally different problem. If you're not getting enough responses is your message on point? If you're getting too many responses, is your system efficient and scalable? Can you outsource part of it and remove that bottleneck to grow your business more efficiently?
Residential Real Estate Broker · Portland, OR · Member since 2015 · 22 posts · 8 votes
8y
@Justin LaPointe That is a great option! Right now there is 8 multifamily homes in yamhill county for sale on the MLS ranging from 220K to 360K, if you want me to send them over to you let me know! My wife and I started house hacking a few years ago. Living for free is the best!
Investor · Newberg, OR · Member since 2016 · 90 posts · 19 votes
8y
@Justin LaPointe I think you are on the right track. Newberg and Yamhill county have multifamily, but you will need to be patient, find them yourself, or be quick to get under contract.
I am not selling anything but I live in Newberg and may have some insights.
Newberg, OR · Member since 2017 · 6 posts · 0 votes
8y
I would love to here your thoughts on the area And investing. I would imagine you are incredibly busy with what you do for work and your own wine adventure. I live out on Kuehne Rd and have Laurel Ridge winery on one side of me and Two Barns Vineyard that is owned by Domain serene (probably butchered how you spell it) is above me. We also know Dick Erath.
@Justin LaPointe I think you are on the right track. Newberg and Yamhill county have multifamily, but you will need to be patient, find them yourself, or be quick to get under contract.
I am not selling anything but I live in Newberg and may have some insights.
I would love to here your thoughts on the area And investing. I would imagine you are incredibly busy with what you do for work and your own wine adventure. I live out on Kuehne Rd and have Laurel Ridge winery on one side of me and Two Barns Vineyard that is owned by Domain serene (probably butchered how you spell it) is above me. We also know Dick Erath.
@Justin LaPointe I think you are on the right track. Newberg and Yamhill county have multifamily, but you will need to be patient, find them yourself, or be quick to get under contract.
I am not selling anything but I live in Newberg and may have some insights.
Evan
Nice! I drive by you often. The company I work for manages Two Barns as well as Alexana. I would love to chat, but I warn you that I am sporadic at best on Bigger Pockets, much better on email. My contact info is at bellingarestates.com
I am also new to real estate investing and looking to buy a second home in the Newberg area and or possibly Salem. Most of these posts are in 2018 is obviously more expensive now.
Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 598 posts · 312 votes
2y
Welcome @Talia Bollard! I am a local investor here in Newberg and am also a lender who works with investor. We have a local meetup at @Evan Bellingar's winery the last thursday of every month in Newberg if you ever want to join! @Ben Nelson
I am also new to real estate investing and looking to buy a second home in the Newberg area and or possibly Salem. Most of these posts are in 2018 is obviously more expensive now.
I agree, I was reading through them and was very confused 😂
I will advocate for @Grant Schroeder he has the local knowledge with incredible real estate knowledge and backing that makes him an excellent resource in the area.
There are a lot of tertiary markets in between Newberg and Salem, I’d love to hear more on your thoughts on these markets, I’d be more than happy to help in the search too. Grant and I have helped a lot of local investors get started in the willamette valley with house hacking multifamily or buying live-in flips, or just strictly investment properties to add to their existing portfolio.