Portland Or. and surrounding Neighborhoods Where to buy?

[David C.]

Hello to all. I'm seeking some advise on where to buy next in the PDX area? Where are tomorrow's up and coming areas? What neighborhood will be hot in the coming years? My crystal ball has never worked right so I thought I'd check out yours. Where should I start looking and become knowledgeable about? So far I've bought rehab houses in great areas so I have some experience with rehab. The last one just about took me out but I learned alot and the refi is set to close the 25th of this month. Giving my lender his capital back. My resources will be a 250k private money loan all in. So it needs to be an area where 250k will buy you a rent ready house or  fixer that can be done from purchase to finished and rent ready for a total of 250k. The loan terms are interest only @ 6% with a two year balloon. So the payment is 1250 monthly plus tax, insurance etc. So it also needs to rent for enough to cover those costs or at least come close. I share that info because maybe you think laurelhurst is a no brainer for instance, but I can't afford there. I might do some type of lender equity deal instead if need be, but as of now my personal lender is down with the same terms as last time.  So if this is what you had to work with where would you buy? Or if you have a better idea then another house what would that be? So far I'm a long term hold type, I don't really need the income today I'm far more interested in what happens over the long term. Thanks so much for taking the time to read my ohh so long winded post =)