All Forum Posts by: Alex Wade

Good to hear this discussed!

I'm in a similar situation here in Portland and ideally would like to use to brrrr strategy.   I know we can't expect 1% rents here,  but i'm wondering how we should look at things like the 70% rule im portland. 

In higher priced markets should we raise the 70% target to more like 75 or 80?

Hi Jeff,

I'm not sure I follow the question.  Are you asking if an agent will sell you a home, and then list it for you when you're ready to sell?  The answer is surely yes.  Or are you asking if they'll sell you the home, and then relist it for you without charging a commission when you sell?  

Hello,

Has anyone had experience paying for probate lists from All The Leads?  They aren't cheap, and I'm okay with paying for quality.  I have a fairly full time job and going to the courthouse on a regular basis to write down probate information doesn't seem realistic.  Wondering if anyone has dealt with this company and can give me an idea of the value in the leads/service they provide.  Thanks!  

@Jerry Holt Thank you!  Sounds like I need to take another shot at it.  

@Jessica Kirby I replied to a different thread, but Trailhead CU in Portland will do this as well.  Happy to send you contact info for the loan officer I worked with if you are interested.

I am interested in direct mailing owner's of property in probate.  I realize there are marketing companies that will sell lists, but I thought it would be wise to go to the courthouse before spending money on that kind of thing.  I went to the Clackamas County courthouse and accessed the list of cases, and opened up probably 7 or 8 different cases and clicked on all available links.  None of the information I found pertained to real property, (or any other assets for that matter).  

Has anyone else done this successfully and have any idea what I did wrong?

Trailhead Credit Union was able to help me.  I've been banking there for years so I'm not sure if you need an account with them.  

My plan for several years has been to buy owner occ propreties and convert them to rentals when I move to the next.   After finding BP i'm not sure that makes sense. 

I bought my newest home Sept 2017 with 3% down... paid for some repairs with cash for a total of $20k.  Sunk cost. 

Now it appears I could sell and net $30k or rent and MAYBE cash flow $50-100/mo.  That factors in no budgeting for capital expenditures. 

I want rentals and i know rents will go up so I hate the idea of selling... but am I looking at this wrong?

House was built in 2015 so it's fairly new.  I am in Portland and i'm learning it's hard to find propreties that cash flow nicely.  Thank you!

Sean, 

If you aren't willing to go FHA, then yes 3-4 units will requireat least 20% (Freddie mac) or 25% (Fannie mae).

FHA will allow you to go as low as 3.5% down, however. A 203k renovation loan may help open you up to some extra listings too.

Thanks everyone!

@Neal Collins   (is that how you tag people) I work for loanDepot as a Builder Account Consultant.  Currently I support a builder working on a subdivision, and work outside deals as my bandwidth allows.

@Jay Hinrichsand @Mike Nuss Thank you too.  I have attended Rare Bird once and thought the content was great. I hope to make it back although my FT Job conflicts with the schedule currently.  

@Jill DeWit and @Chrissy Parsons Thanks for the tips!

Maybe I could ask one question here.... I'm a bit overwhelmed by all of the different forums.  I wanted to ask a question about whether or not I should sell or retain the two properties I own right now.  I'm not looking for direct answers, but rather someone to guide me to material that would help give me a framework to make the right decision.  Can someone tell me which forum that would be?  

Thank you!