All Forum Posts by: Brad Hammond

Hi @Jason S Martinez, I BRRR 4-plexes as well, would love to connect with you sometime. My biggest criteria on finding a property is being able to pull my downpayment out after 3 years. Properties with lower cap rates make this easier but it is harder to find them with lower rents. What part of town are you looking at?

Hi Denver, thanks for saying hello!  Feel free to jump in with questions and thoughts you have. 

@Chase Wippert

I would contact Landlord Solutions.  They can take care of everything at this point for a fair price.  I would expect they would be out within 2 or 3 weeks if you take them to court. 

@Brendan Benade, I think there are lots of Portland investors.  What are you looking to learn about?  You should look into getting involved with a real estate meetup group.  Check out Rarebird and WIN (Westside Investors Network).  

Hey @Trevor Howard.  I think your numbers look good.  The great thing about house hacking is if the numbers aren't perfect, you still have some wiggle room.  

One thing to think about is once you closed and are renting it out you need to have systems in place.  That means leases, payment portal, etc.  Let me know if you want help with this, I'd be happy to open the kimono.  

Hey @Brian B., don't forget about taxes and insurance when calculating your monthly debt.  Also, I would check out McMinnville, they have some inexpensive properties and it isn't too far from you.  You can also get a good bang for your buck in Salam if you are interested in going down that far. 

Hey @Trevor Emmett, I'm always looking for new networking events.  I'll pop in closer to 1:00 or 2:00 but can't stay too late. 

Hey @Lance Nelson, I mostly purchase on the MLS but check with wholesalers in the area and get on their lists.

I think it is silly to think that a real estate agent is going to keep all the good deals for themselves. They don't have unlimited amounts of money to buy up any and all good deals, plus you would know about the listing the same time they would since they have you on an automatic drip.  

Hi @Richard Choi.  I have a 4-plex in Portland that I self manage.  I make sure I swing by at least once a month to make sure everything is looking ok.  Mostly I'm making sure the garbage is taken care of (people like to leave bulky items next to my dumpster or park in front of the dumpster and it can't get picked up).  I also make sure the landscaping is getting taken care of.  My last landscaper was really good about sending me bills but no so good at actually coming by to cut the grass.  You could always pay one of your residents to keep an eye on the place for you as well. 

However, I also have a condo in Portland and I've had one in Denver.  I never have any issues with those.  If there is a maintenance issue I take care of it because I'm thrifty but I could just as easily found someone on taskrabbit.com.  The reason I like condos is because there is no capex and it manages itself.  

Hey @Joshua LeMasters, welcome to Bigger Pockets and real estate investing.  I think you are on the right track.  I think your next step should be learning and soaking up as much knowledge as possible.  Once you think you are almost ready, pull the trigger and reach out to an investor-friendly real estate agent.