All Forum Posts by: Eric Bilderback

I got my list yesterday Marc.  Great idea thank you!

4-plex see on top of that I would get an FHA/VA loan. That is exciting in 10 years you could be a very wealthy man. Plan on doing the same in 2 years with a conventional loan.

Congrats,

William,

We have a group in Bend come on by sometime if you are in the area. I love Eagle Crest, especially the weather there its a little banana belt. What I don't like is the HOA's they start at $300. If you are interested in vacation properties I would look in Maupin and here in Sisters. Get a place with no HOA's if you can. Those things kill you. I have ran the numbers many times on those and types of properties the biggest hit is the property managers charge 40% of the total rent for vacation rentals. I think that is fair they are a ton of work. In Sisters and I imagine in Eagle Crest you can rent them nightly/weekly in the high season and then lease them out in the off season as a furnished home.

Send it!

Thanks

My property was a 15 unit and I give the manager free rent.  He was and is doing a great job but for 15 units that is just not worth it.  So I bought the 6 plex next to it for him to manage it as well.  But I am an hour away and work full-time so I need him as much as he needs me.  I like the resident managers he knows if there is any drama etc. at the place.  

I have been listening to people around me and even places like the bigger pockets podcast say we are nearing the top of the market.  Here is the question I have; the only dip I recall experiencing was the last one, but that one seems more extreme then most to me.  I was invested before the downturn and lost as did people I knew.  However I rode through the crash (unfortunately was not in a great position to take advantage).  I don't recall people talking about being ready to take advantage of a crash like I hear them saying today.  Maybe I was not plugged in enough.  My feeling is that when the market eventually does dip there will be a lot of investors ready to jump in which will stop the market from dropping to dramatically.  Just because I am curious what do you guys think?  I know there is no way to know what will happen but in prior booms have we had so many people ready to pounce on a dip before? 

Last question I do think we are probably going to have some sort of dip in the not to distant future.  To prepare I keep 3 months of reserves and on top of that all my properties will still pencil if the rents drop 20%.  Do you guys think that is conservative enough? 

Thanks for the discussion,

I can I get the addresses?  I will PM you.

Get it,

I don't see why you wouldn't get it now. I got mine less then a year ago and I wish I would have got it sooner. If you buy properties on the MLS it will help. You never no when a great opportunity will pop up and you'll wish you had the license, plus you get MLS access.

Esther and anyone else who was planning on showing up it is looking pathetically small so I think it will have to be postponed.  Feel free to PM me.  

Sorry it didn't pan out,

Jeff,

I know a couple of people who are looking for a mont guy at the Bend meetup.  Come by see what you think.