All Forum Posts by: Brad Hammond

I am seeing some active buyers out there.  Just like on the retail side, there are more buyers than good properties. 

Hey @Armando Neri, try looking for less expensive duplexes in a different market.  Perhaps Salem or Battleground.  

Hi @Armando Neri, I think you have the right mindset with BRRRR where you are looking to create equity by improving it. You might want to consider house hacking a duplex. That way you can get into an investment with less money down. I've seen a few on the market that might work for you. Feel free to DM me if you want to talk about other specific ideas.

Hey @Devin Stevens,try Patty White at Lawyers Title in Lloyd District.  DM me add I'll give you her info.  

Hey @Dax Kirkwood, I think that is a good plan for your situation. With that I want to try and poke as many holes in your plan as I can, just to give you things to think about. I am in NO WAY telling you this won't work but I want you to be set up for success. When looking for a house hack with multiple roommates, you obviously want as many bedrooms as you can afford. If you can find a property with a separate basement entrance or can make an ADU, that would absolutely be worth it. Also, consider a short term rental space as well.

What is your end game goal with the property?  Do you want to sell it and hope for appreciation (look for places closer in to Portland for that) or are you just looking for cash flow and paying down the debt (look south of Portland).  

I can appreciate you want to do as much of the work as you can but just know that people won't want to live with construction noise.  Complete the kitchen and living area remodels first as that will make your home more desirable for people to rent and will minimize the inconvenience.  

As far as renting in Portland goes, it is difficult.  You have a lot more flexibility in the laws since you will be living there but I would also look at areas in the surrounding suburbs.  I manage all my own properties in Portland and would be happy to open the kimono to show you my systems. 

I think your next step should be talking to a few mortgage lenders and get a feel for what they are telling you.  I would be happy to introduce you to my favorites. Step two would be analyzing properties.  I am an agent in Oregon and would be happy to send you some properties that might interest you.  DM me if you are interested.  

You can do this and it will be a great start to your investing career!  

Hey @Robert S., you should look into David Tuck with Anvil Tax.  I don't use him but he seems to really know his stuff.  My advice on working with a CPA is to ask better questions.  Don't ask "how can I reduce my taxes?"  Ask "What can I write off for my home office?".  

@Mike Nuss @Jay Hinrichs, can't wait for your Investor Lab interview.  I wasn't able to make it for the last in-person interview you did last year.  Keep up the good work boys! 

Hi @Jimmy Lieu, I'm in Portland as well and considering different markets.  I don't have an answer for you but I think you should think about what type of asset class you want to invest in.  You should check out Real Wealth Network and The Real Estate Guys.  I don't have any first-hand experience with them but they have some great info on their podcasts and websites.  

Hi @Kelii K., I am a real estate agent and investor in Portland.  If you have connections here, I think this is where you should focus.  I would recommend looking outside the city of Portland into Beaverton, Tigard, Tualatin, Newberg areas for a variety of reasons.  

Where you begin will depend on how much money you have to start with. In order to make money in the area, you will need to find a property to fix up (BRRRR) and that could be single-family but you will get better returns from multi-family. DM me your specific questions and I would be happy to help.

Hi @Tyler Yontz, all great advice above.  You should reach out to @Chace Fraser, he is the king of house hacking here in Portland.