All Forum Posts by: Austin Owens

@Mike M. Ok cool thank you. Are there anymore signs that I could look for as far as the market becoming more of a buyers market? I know today mortgage rates went back up a little bit so that is making me more skiddish about overpaying for something right now!

I have a ge real question that has been asked probably a million times on here, but I cant find a clear answer for my situation. I live in southern oregon. Middle class 3bd 2 bath houses average 280-305k ish. We bought our house in 2015 so we have a significant amount of equity and want to upgrade. My plan is to sell now and rent for a yr or so. This will let us pay off some student loan debt and still have money for a big down payment later. The market has been high, but have seen a lot of price drops and houses being on the market longer, so to maximize my equity it seems like now or never. Could I speculate that the market will go down/correct enough for it to be worth it to rent? I've done a descent amount of research, but arguements for both sides make sense to me. Any info helps thank you

Thanks for the information. I will try and be as thorough as I can be with pictures and notes. I'm excited to see the property. wish me luck.

@Jerryll Noorden thanks for the reply. yeah the research I have done mostly on bigger pockets has told me not to use averages like that, but I figured it would be a good starting point at least to rujn numbers on a deal. I agree walking the property is the only way to get an accurate estimate. I'm playing on going to walk the property monday or Tuesday. It's an older home, mid 40s, so I'm anticipating more rehab then the 60k number. Do you have any must have pictures or scenarios that a contractor will need to know if I cant get a contractor there at the time of showing? Thanks again for the reply

I am a newbie and want to share this potential fix and flip with all of the great minds on here to see if I have missed anything. I haven't seen the house in person yet because it is in a neighboring county, but I plan to see it early next week to get my rehab costs more dialed in. Any and all opinions and knowledge is welcomed.... thank you in advance. 3 bed 2 bath, 1831sqft, built in 1946, .30 acre lot. 145k cash only (wouldn't offer asking price) ARV 275 (lower end of value) rehab costs 57-60k ( I used 30$sqft because I haven't seen the property yet) 3 points for being a new invester = 6100 loan amount (since I'm a first time invester) 205k @ 12% for 12 months = 2400/Mon holding costs = 15, 600 (6months) includes taxes insurance and utilities for 6 months. closing costs = 19000 (paying 6% realtor fees,title fees, etc) total cost =245,700 selling price 275,000 = 30k profit. I also have equity that I have built up in my current home that I could use for renovations or getting better loan terms as far as putting some money down. Any and all opinion, advice and knowledge is welcome. thank you all

Thanks for sharing. my wife and I are looking to buy property outside of town, and in our market there has been kind of a false increase in property "land" value because of the legalization of weed in our state. now that people have realized that if everyone is growing weed and nobody can sell it, there are a lot of properties coming on the market. that's why I am thinking our money will be able to go further in a few years. I think that in our market at least for land will kind of even out a little bit in the next few years if not decrease in value based on folks not being able to grow and sell weed like they thought.

hi there everyone. I have a question that hopefully everyone on here could give me their opinions and input. my wife and I made a good buy/investment on our house a few years ago and have a significant amount of equity built up. my idea is to sell our house and pay off all of our debt. With the profit from our house we will be able to pay off our car, student loans and credit cards, and also have enough for a small down payment on another place. the place we buy will eventually be an investment property. I figure we would be able to save a bunch of money every month and put that towards our "forever house". I'm thinking this because by the time we are able to save enough for a sizable down payment for what we want the market will hopefully be going down, allowing our money to go further. So I guess my question to pay sell our house and pay off debt or to keep looking for the property we want and just keep paying down our debt with monthly payments? thank you for your feedback in advance.

Ok. thank you for the responses. Im new to real estate investing so I just want to make sure there's not more research I can do to maybe get a better deal before the property goes to auction. contacting the homeowners while in the pre-foreclosure stage is the best route for this? I guess I was trying to maybe skip a step to get a better deal. In a relatively high market like here in Southern Oregon, is the best way to get a good deal to basically have all your ducks in a row to make an offer as soon as it comes available? Is an agent going to be my best point of contact for properties that have been foreclosed for a long time also? Sorry if these questions seem rudimentary!

Hi everyone.... I know this question has probably been asked a million times on this site but I haven't been able to find a thread with it on there. I'll just start by saying that once I find a real estate agent they will be able to help with thus problem to. My question is how do u find the seller of foreclosed properties? I have been able to do some research on some local properties here that I am interested in, but even looking through some of our county records I come to a dead end when I find out it's big banks and loan companies that own the properties. I have tried emailing and calling these companies, but haven't been able to get in touch with anyone with any information to help answer questions. Is this the norm or should I be doing something else or exploring different avenues to try and get more information? Thanks in advance for the responses. can't wit to learn

nk you guys for your input. every little bit of knowledge helps. @Daniel Massicotte I assume you are taking about just bare undeveloped land? I was more leaning more towards lots in neighborhoods that are already somewhat developed with power, city utilities, etc.... but thanks for the reply. @Alex Capozzolo good points. I guessed the longer holding costs and things like that. I'm curious because it seems everywhere I look in my small town of Southern Oregon there is another subdivision of track homes going up. Like I said I'm new to this idea so haven't had th chance to network a lot yet. but thanks again I will be sure to post with any updates.