Newbie in Portland, Oregon

[Marcus Mathews]

Hi everyone, my name is Marcus Mathews and I am in the beginning stages of my real estate investment plan. I am a lifelong Oregonian from the Portland area. I own my own job selling surplus industrial parts mainly on eBay.

At the end of 2011 I bought a property in SE PDX with a 700 sq. ft. two bed, one bath house and a smaller one bed, one bath detached ADU on it. I have lived in the main house since then and rented the ADU to a friend for almost the entire time I've owned it. After I started listening to the BP podcast I realized the first step for me was to give my friend his 90 days notice and move into the ADU and rent the main house for more than my current PITI. I will be moving houses in the next few weeks and hope to have the main house ready to show by mid June.

After I have the house leased up, my plan is to get cash from my substantial equity through either a cash out refinance or a HELOC to start doing buy and holds with a partner using the BRRRR strategy. My long term goal is to have a nice portfolio of rental properties that are free and clear in 15-20 years so I can retire by 50.

Any and all advise, insights, thoughts, or suggestions are greatly appreciated!

[Melissa Dorman]

Welcome to the world of real estate investing. One place I have found a lot of help from is RareBird investor group. They meet every 2nd Thursday of the month. Google them. Best value for an REI group I have ever joined. And the network is unbelievably helpful. Best of luck!