All Forum Posts by: Jordan Tietz
Jordan Tietz has started 2 posts and replied 3 times.
Post: Land and Construction Loan in Portland, OR
- Portland, OR
- Posts 3
- Votes 1
Hi BP Folks!
I am writing to see if y'all can point me to some resources. I have a lot in St. Johns, Portland under contract subject to financing that I'm looking to build a new home on. We've run the numbers and there appears to be a good 50K in profit. I have a house builder and all contractors lined up and am looking for a land and construction loan of $240K with $60K available as a down payment (25%) with the land as security.
Can folks recommend lenders that could help me put this deal together?
Many thanks,
Jordan
Post: Portland, OR CPA looking to buy my first multi-family!
- Portland, OR
- Posts 3
- Votes 1
thank you so much everyone for your generosity in replying. I'll keep you updated if I do buy that duplex in the coming months! My best!
Post: Portland, OR CPA looking to buy my first multi-family!
- Portland, OR
- Posts 3
- Votes 1
Hi There BP Community!
Thank you for reading. I am a CPA that works as a Finance Manager for a youth mentorship nonprofit in Portland Oregon
I have saved 85K for a down payment for my first house, and just got pre-approved for a 425K Owner-Occupied SFR with 20% down. I have an annual W2 salary of 65K.
In Portland proper, 425K will buy a nice 3BR home. I keep thinking that it'd be much better to buy a Mult-Family, especially if I could find an FHA loan.
I'd like to buy a four-plex to stretch the power of a 3.5% down-payment. I pulled this from HUD.
| MSA Name | MSA Code | Division | County Name | County Code | State | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price | Last Revised | Limit Year |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA | 38900 | MULTNOMAH | 051 | OR | $408,250 | $522,600 | $631,750 | $785,100 | $355,000 | 01/01/2017 | CY2017 |
Can anyone advice me on where I should start if I want to pursue this path?
Many thanks!
Jordan