All Forum Posts by: Jeff Marston

Thanks, William!

Can anyone provide a reference for an accountant in the Portland, OR area? 

I'm looking to establish a long-term relationship with a firm that will help not just with tax prep but also tax planning and strategy. I've got two rental properties and am trying to grow. A lot of the moves I'm considering have tax implications that I should really consult with an expert on. 

Thanks

Jeff

Thanks, @Patrick James!

Hey @Brad Hammond, thanks for asking! Here are my criteria:

1) A property that I can be all in for 75% ARV (all in = price + closing costs + rehab)

2) Positive cash flow (including all expenses such as vacancy, CAPEX, PM fee, etc)

3) Located within ~1 hour drive from West Linn, OR

Thanks @Kyle Neumeier! I wish I had taken an interest in real estate when I was your age. You're going to crush it. By the way, is there still a meet-up happening in West Linn this month?

Jodi- one more thought.. You mentioned you are currently renting in LA. Consider cashing out some equity in your Portland rental and using it as a downpayment on your own home. This would be a better investment than buying another rental property because:

-Mortgage rates are lower for a primary residence than a rental.

-No tenant costs such as vacancy, eviction, turnover and property management.

-No time spent managing tenants or a property manager.

-You will the most reliable, predictable tenant paying down your mortgage - you!

If you can transition from renting to a house hack, even better, but not everyone is in a position in life to house hack. At a minimum, consider becoming a homeowner using the equity in your rental to make it happen.

Hi Jodi, I live in West Linn, OR, near your S Tabor property. I'm new to real estate but I have a finance background. I can't say I know for sure what I would do in your situation but here area couple thoughts.

Your property is in a great area for investors. Rents and property values are forecasted to continue to increase. For data on this: https://www.zillow.com/research/data/

In deciding whether to sell, consider all relevant costs that a 1031 won't mitigate. These would be selling expenses, closing costs and the value of your time that would be needed to get a fair price. You can get a rough estimate of the monetary value of your time and energy by looking at the spread between what the wholesalers are offering you and the market value of the property. 

After deducting these, if you have another place to put the equity that will produce a higher ROI, then go for it.

However, unless you have a better investment identified, I would definitely hold onto this property. If you want to get some velocity of money going, consider a refi to free up cash and move this cash into another investment. 

Hi everyone, I'm Jeff from West Linn, OR and I'm excited to get started with real estate investing! 

I have zero formal credentials but I've been "lurking" on BP for longer than I care to admit 😊. I read Rich Dad, Poor Dad in 2005 and it had a huge impact. At that time, I wasn't ready to dive in, but now I am.

I enlisted in the Marines in 1996 and got out in 2017 as a captain. I have an MBA from Portland State and I've been working in corporate finance for a little more than a year. My wife, Christina and I have been married for 20 years and we have two daughters.

My Most Important Next Step is to connect with a great agent and then close my first rental property deal.

Other than that, I'm looking forward to meeting some new people, having some fun, and helping others achieve their goals with real estate!

Best,

Jeff