All Forum Posts by: Brent M.

Hello, Welcome to BP.

There are a number of Investors on here from all over Oregon - I'm over in the Medford area myself.

Learning through BP, Pod Casts, YouTube, FB Groups & Meet Up's is the way to go.

If you haven't yet check meet up to see if there are any local RE groups you could stop by and meet other local Investors.

Good Luck!

@Joe Engelhardt Would be best to call your local credit unions and ask about their loan programs for investment properties.  Do they require 25% / 30% equity to be left and what rules they have.  Be pre-approved prior of course so you know you can qualify and have a easy transition.  Every CU is different, so need to ask your local one and find out.  
I would read about the differences and see what you want to do Rinse/Repeat or one time charge on X loan.

https://www.bankrate.com/finance/debt/home-equity-loan-vs-line-of-credit-1.aspx

HELOC is just a credit line, So you can buy/rehab and refinance with a regular loan in order to pay back your HELOC if you want or pay back the HELOC with time.

Depending on the type (1% Payback or Interest Only Payback) if you borrow 80k, your monthly payments would be $800 - if you were renting for say $1000+ and covered all expenses, then you could just pay back your HELOC and if rates adjusted, your payments is still 1% payback - you would just have more interest added on for the life of the loan.

I have a HELOC and opened it up to be able to fund my rehabs or have extra $ to close on a deal.

@Lamont Marable Be careful encouraging others to use "Morris Invest" if you do a search here on BP you'll see hundreds of posts of investors who have been scammed and lost thousands of dollars using them.

I would avoid them at all cost and always do additional research when getting recommendations or seeing a t.v host face on YouTube selling 40k homes.

I've warned people in the comment section of Morris Invest's Videos, but they get deleted.  Anything that might portray the company "negative" get deleted within 24 hrs.  They have someone working hard at cleaning up the comments v.s actually doing any work lol.

@Cassandra Kimberling Welcome to BiggerPockets.

Lots of useful information and weekly webinars on here,  =-)

Congrats on working towards your license.

I'm also from Oregon, Down south In Medford.

Anyways just saying Hello & Have Fun!

I've seen many BP recommend High Return Real Estate (HRRE) in Indianapolis, it could be worth looking into more.  There are "Good" true turn key providers that do the whole mix.  MI uses his position to get new investors to buy a 3rd party wholesaled house at premium prices with little work done to them.

Not only are the houses marked up 5-10k above market value, but the rehab costs associated with the fixes are done 2/10 of what they say are going to be done.

@Andres Gonzalez Welcome to BP, lots of great resources on the website + there is a local meet up as well that's great to connect with local investors.

Hello @Case Roos,

I'm new to "Real Estate" as an investor, I have my primary residence with equity I'd like to use to buy/hold rentals and then move away from the stock market roller coaster into cash flow + equity in real estate.

I'm just trying to find something to jump into and get my feet wet.

I'm looking to start by buying and holding in Oregon as it's where I was born n raised, but would eventually like to also buy out of state.

Do you do the fixes yourself or have a small team you work with to get it all done? What areas do you buy/hold in?

Welcome to BP, there is tons of information on here.

@Tim LaRiviere Welcome to BP, there are many posts on Morris Invest here so well worth the reads to "avoid" look at other true turn key providers.

You should take Brandon's free real estate course as a good starter to get some nice suggestions, I haven't looked into roofstock / crowdfunding - but look interesting.