All Forum Posts by: Trevor Emmett

@Tanner Kier this is a question that I personally dealt with and the issue of credit card debt is no joke. First if you are helping a friend you have to understand that they can only help themselves and that you are there for support. Do not pretend that you know their situation, no matter how close you are to them. The best thing you can do is listen. Second recommend books and podcasts that you think may help them. I loved “I will make you rich” Ramit Sethi. “Money, master the game” Tony Robbins. Also, my debt was an issue because of bad habits and my mind set. BiggerPockets touches on a lot of great guests and ideas but their is a wealth of other people out there. Go down the rabbit hole of great thinkers and share with your friend. Ultimately, you can only do so much. Just be there as a friend and support. They are on their own path and they may not be ready for your advice, just give it and don’t expect anything.

Also, I think it is understated the effect a person has on the world when they live to their highest potential. Don’t shove your success on people’s lives, but simply continue to live your best and it will effect those around you.

@Nick Farrell get a vanguard account and invest in low cost etfs (index funds). The expense ratio on these funds are the lowest you are going to get ...or at least close to it. Also when you buy their etfs they do not charge a fee to buy the fund. Your financial advisor will not be able to consistently beat the market and honestly you won’t be able to either. Luckily if you just match the market you are doing way better than most and especially at your age!!! You are already killing it!

For more info I really like “money, master the game” by tony robins. The audio book is solid.

Also, the real money is in yourself. Invest in yourself, your education, your business, your ideas, your health, your happiness and wealth will follow. Chase the process not the goal.

@Cirilo Villar if you really love real estate I would suggest looking into becoming an agent. It is no joke and a lot of hard work, but I wish I started when I was your age. If you do go that route I suggest that you find a successful realtor that you can learn from and be their assistant, buyers agent or something that provides value. If you want to go out on your own, use that 4,000 as seed money, but It goes fast if you don’t sell a home.

The most important thing is to invest in your self and be patient.

Welcome!

Hello Matt,

              I am also in the Portland Market and in my opinion we are an overpriced market set for a correction in the next 1-3years.  By no means do I think it will be anything like the last crash, but I am finding it incredibly hard to find anything that hits the 1% rule or comes close.  I am currently stockpiling cash, lowering my liabilities and being patient. The Portland metro area saw a 12% increase in home prices from august 2015 to august 2016, August 2014-August  2015 we saw a 9.4% increase and 2013-2014 we saw an increase of 7%.  (all information taken from S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES and calculated by Trevor Emmett).  

It is normally believed that 4% a year is a healthy growth rate, the average of 2013-2016 is 9.46%.  Also, we are currently at 2 months of inventory, which by all means is a sellers market.  Granted, I cannot predict the future and no matter what the market is doing: a good investment is a good investment (I just have not run across any as of late.)  Make sure you stick to your guns, have a plan and be patient!  and remember Warren Buffett's first two rules of investing :  

1.) do not lose money.

2.) DO NOT LOSE MONEY!

 I hope that my two cents helped and either way best of luck!

Hello Steve,

         I have to agree with Ed about the market being a little rough.  I work with investors on a regular bases and we are continually being beat by offers that simply do not make sense.  The investors I have been working with have been targeting homes that need some serious work, but once the work has been completed they have been seeing some good returns.  Once you get into the market just be patient and understand what it is you are looking for in an investment.  I like to look at Warren Buffet's first 2 rules of investing 1.)do not lose money 2.) do not lose money.  Do not get caught up with the excitement, sometimes it is simply better to not buy the deal.  

I strongly suggest that you start analyzing deals as soon as possible, so when you are ready you have a clear picture of what a good investment is in your market.

Best of luck!

Agreed, just had a conversation with our land lord and he is ready to sell to us!  As a Realtor in the Portland metro I am fully aware of how difficult it is to buy a home in this market and from I understand Bend is pretty similar at the moment.  So at the very least you saved yourself some headaches.  Congrats on your purchase, Bend is a great place! 

Hello Brian,

                   I agree with Curtis, I would shop around.   I suggest contacting  Michael Wright at Summit Mortgage, he is based out of Washington but works in Oregon as well.  He has come through on some tricky deals.

Dir: (360) 433.0300 Cell: (360) 719.8750 

Best of Luck!