All Forum Posts by: Randy Johnston

@Joseph Brown

I own a couple of SFRs that I rent, and have a JV partnership with another investor to build a duplex on the backside of a property where we just completed a rehabbed, which should bring us approximately $4500 a month between the three. But as @Jeff Wallenius mentioned, there are properties that will cash-flow, especially if you buy one that's a bit distressed. 

Most properties on the MLS go pretty quickly close-in, but as you move further out, you'll find some pretty good deals.

Good luck.

@Justin Leithem, Developing the property will require time and patience. You're probably looking at a 6-18 month process just to get the property developed and build ready (figure about $10k to $20k per door), then you'll need to work on getting funding to do the actual build. 

Portland has an Early Assistance Program that will allow you to meet with a city planner to determine what options are available to you, I don't remember the cost, but I think it's in the $150.00 range.

Hope this helps.

@Brian Claar, Welcome to BP. a great resource for real estate investors. You may want to also check out the local real estate investor groups . . . both Rarebird (www.myrarebird.com) and Northwest REIA (www.northwestreia.com) hold monthly meetings. Check them out.

Good luck.

@Earl Jornales, Welcome to BP, this is a wonderful site with the resources that you'll need to get started in real estate investing. I'd suggest that you also check out the local real estate investor groups . . . both Rarebird (www.myrarebird.com) and Northwest REIA (www.Northwestreia.com) hold monthly meetings where you can learn more about the local market as well as network with other investors. Some of the BP investors get together on occasion as various venues for meet-and-greets that give you an opportunity to network with other BP members in the Portland area.

Good luck.

@Joseph Brown, Congratulations on your purchase. Gook luck with the property and welcome to BP.

@Christine Johnson-Sundby, Trying to buy two or three properties in the time frame required to roll-over a 1031 is going to be a huge challenge. With $360k to invest, you should be able to find a really nice cash-flowing multi-family complex.

@Nicholas Almgren, 

@Conor Hesch has a program with U.S. Bank that you may find to be a better solution than an FHA loan. I've yet to use it, but it's another resource for some of my clients who are looking at FHA for their purchases.

Good luck.

@Melissa Dorman, Welcome to BP and eventually to Portland. My wife and I moved up here in early 2005 and just love it here.

There are still some areas where you can get a nice place or duples for $280k, though you'll probably end up in one of the suburbs, which isn't a bad thing. :-) There are neighborhoods in Hillsboro, Aloha, Tigard, and even Beaverton on the West Side where you can find a home within your budget and are an easy drive into SW Portland. There are also still some neighborhoods in Southeast, further out, that will also come in within your budget.

I personally prefer the West Side, but either way, you'll love living in the Greater Portland Area.

Good Luck

@Stephanie Sherman, Welcome to BP, you've certainly come to the right place to learn about real estate investing, and there are many knowledgeable investors on this site. I also suggest that you check our the local REIA groups . . . both Rarebird (www.myrarebird.com) and Northwest REIA (www.northwestreia.com) hold monthly meetings and are great platforms for learning more about the local markets and networking opportunities.

Good Luck with getting your license.

@Christine Kwasny, Have you started looking into financing yet? A 4-plex is considered a residential loan where anything above that is considered a commercial loan, and you should be aware of the differences in acquiring both types of loans. Check out this article, which gives a simple explanation between the two.

Please give me a call with any questions you may have.