All Forum Posts by: Brent M.

@Mike Malfitani I became interested to start real estate investing by watching Morris Invest too.  I placed a call talked to James and had 2 properties sent my way.

I checked them out, checked the surrounding houses out and what they last sold for/what was done and what peak prices were in area.  The houses were ~5-10k over area value of recently sold properties so I opted to not get involved.

Instead I'll focus on buying 1 or 2 rentals locally get some firsthand experience of the process and still use a property manager and such, banks won't finance houses appraised below 60-100k depending on area, house has to be livable and have a home inspection and has to have a foundation.

So check with your local bank/credit union to see what you can get approved for, you also can't get a loan inside an LLC without 2 years of credit history or at least you'll have to Personally insure the loan.

Anyways goodluck in your investment journey!

You'd have first hand experience of it.

Has your rental increased in value over X time period?

How is Rent in that area?

Ontario, Or - Population is Less then 12k, seems like rent/vacancy could be higher then other parts of Oregon.

Welcome to the Forums.

@Vincent Townsend it's not as bad as near Columbus area so it's fine, there is a kid center near there and some sort of school it's not the roughest.  That area is a bit nicer then some of the other areas.

I'm working with a real estate agent who has 12 doors to see if I can buy in southern oregon too, trying to find something for cash flow right now maybe 1 or 2 cash buys and then have a loan on something just to get some constant cash flow to invest into more.

I'm tired of the stock market it was nice the last 5 years, but now I have the cash just want to move into consistent flow and tax shelter.

Congrats @Vincent Townsend!

I'm from Oregon and know Southern Oregon, I've seen that house and can agree it's "on the other side of the tracks".  

It's all gravy tho, rent is pretty crazy I bought my house in 2013 and it's nice have a ton of equity i'm looking to invest + I have cash to buy. 

I'm looking in SO as well and looking at 3 properties right now, If you need a pair of eyes here or someone to chat with let me know.

I'm new to RE, but looking to get started.

- Brent

@John Cannon Ah ok, I was looking at a few over in Kfalls mainly for the cash flow, but don't think i'll pull the trigger.  They have some decent looking houses 60/65k range 3/1.

I talked to PM they had ~25day vacancy last and rent 695/725 2/1  and 795-850 3/1 depending on sq ft.

@Steve Schwartz a PM is a Property Manager.  I'm in Southern Oregon and looking to buy down here a few rental properties.

Looking at different cities, their population, growth over last 5 years and future growth etc.

Called a few different PM's in a few cities in Oregon asking about vacancies, payment plans, tenant trashing landlords houses etc. lol

Sounds Good, new to real estate investing and want to get involved and buy more first rental this year.

Home inspection sounds like a great class to start with.

@Jim Butterfield How has your experience been with evictions, I understand they happen in real estate once you get 1+ houses under your belt.

Have you ever had someone trash your rental?

@John Cannon did you end up buying in KFalls?  

I was looking at some bigger cities near I5 in Oregon and didn't look at Kfalls, because there is no appreciation out that way and really.

Just wanted to see if you would share your experience with Kfalls as it's been 2+ Years.

- Hows the Tenants

- Property Manager

- Repairs after Tenants

- Any Issues

Thanks,

Nice, congrats - where did you end up buying?  

As a first time rental, Why no PM?