All Forum Posts by: Cameron Rouse

Attention Portland, OR investors; If you were investing in a rental property in the Portland metro area, what area of town or outskirts would you invest in if you had a 150K-300k range?

I'm 28 years old and purchased my first home 3 years ago in a good SW Portland area, rehabbed & rented it, and now have a home producing $500/month cash flow with 150K in equity in it.

I just purchased a residential home near downtown PDX by OHSU on Marquam Hill that I plan to rent out in a year. While it is in a great area, I don't think I will have positive cash flow on it. I'm thinking I may have made a mistake on this decision... I'm hoping that since I have a long term buy n hold strategy that it will work out.

While I would love to purchase more rental properties in SW Portland, I'm thinking I should look to invest outside of Portland since it seems rather hard to find cash flowing properties now.

Any advice or experience you would like to share would be appreciated. Thanks

Anyone in Portland, OR area know of any local banks that offer 70%+ LTV HELOC's on rental properties?

I'm considering moving back in specifically so I could open a Owner Occupied HELOC. I wonder what technically would make it my primary residence and for how long it would need to be established as my primary.

I don't think it would make sense to do a cash out refi since I already have a good OO mortgage loan in the home.

I converted my primary residence to a rental property two months ago. I have 150K in equity in the home, it was appraised before I moved out to remove PMI. I was hoping to do a HELOC on the property and use the equity to purchase a couple for rental properties. Really wish I did this before I had moved out! Now that it is a rental property the LTV ratio for a HELOC is 65% and the interest rate is a couple points higher. This leaves me with only $27,000 that I could pull out.

Does anyone have any ideas of how I could pull out more equity to invest in additional rental properties? I would consider selling but the property has good cash flow, $600 a month, and is in a good Portland neighborhood that will appreciate in value.