Renter · Tigard, OR · Member since 2014 · 28 posts · 6 votes
Hi there BP Community. My name is Paul and I'm from the Portland, Oregon area. I am brand new to REI, so new that I haven't ever purchased a property yet (even for myself). What I do know is that real estate is something that fascinates me because there are so many ways to get involved in it. My goal for right now is to just get started and figure out what my options are for purchasing my first investment property. The prices around the Portland area are fairly high, so the 2% rule and even the 1% rule seem like they would take a miracle deal to make happen, but I'm ready to be proved wrong. I'm also super interested in tax liens and deed, but unfortunately for me Oregon is a tax deed state (and a crappy one at that from what I understand) so it looks like I may have to think outside of the box and start investing outside of my local area, or even my state. I'm looking forward to chatting with everyone and starting my journey to financial freedom through real estate!
Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
12y
Welcome to BP!
Here are my Quick Tips (If you're listening to the Podcasts, you'll understand the reference. If not...see Tip #2!!!)
1. Get involved in the forums. Offer what you can and absorb what everyone else offers.
2. Listen to as many Podcasts as you can. I am listening to all of them, some of them more than once. There has not been a single broadcast that has not provided me value or that I felt was a waste of my time. Great content!!
3. Download and read the free How-to-Guides, starting with the Ultimate Beginner's Guide to Real Estate Investing. You could pay thousands of dollars for this information BP offers free. (I almost did!)
4. Set up some keyword alerts. It will keep you engaged in valuable discussions, while you're getting plugged in.
5. Get involved with your local REIA's. Real Estate is, as I'm learning, all about relationships and networking. Make it work for you!
The BP community is awesome, and you've taken a great first step!
Note Investor · Wilsonville, OR · Member since 2010 · 149 posts · 113 votes
12y
@PaulSpangler, welcome to BP. As the President of Northwest REIA here in Portland, I encourage you to get involved with BP, but also get involved in your local REIA club. NWREIA is the largest club in the Northwest outside of the Seattle area. An being a non-profit, all our efforts go right back into our membership.
I also invite you to come as my guest to the next General Meeting on September 4th. We hold our General Meeting at the Lloyd Center Double Tree. we open the doors for networking at 6:30, and call the meeting to order around 7:00.
Come introduce yourself to me and let me know how we can assist your RE investing.
Welcome to BP! This site will be a great resource to help you build your network, also check out these books as they could help guide you in your REI as well. Best of luck!
Specialist · Portland, OR · Member since 2010 · 3k+ posts · 1k+ votes
12y
You are in a great place to learn stuff here on BP @Paul Spangler . There is a lot of good info about investing out of state so everyone needs to decide if that is for them. There are lots of potential potholes going out of town so make sure you understand the risks.
Good luck in your search. Maybe a house for yourself? Some will just go straight to investing and live cheap. You have options.
Real Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 328 votes
12y
@Paul Spangler, welcome to BP.
I rarely see the 1% rule in Portland, it just isn't that kind of a market. That being said, my partner and I (as well as others I know) have been and continue to purchase cash flowing properties in this seller's market. It's all about direct marketing and getting face to face conversations with sellers. Interest rates are still very low so buying an owner occupied 2-4 unit property would probably make a lot of sense right now.
Come check our RareBird Investor meeting tomorrow (Monday). You'll be able to meet investors and industry participants of various levels. We use the upper banquet room at Lucky Lab Pub (Multnomah Village location). 6:30-9:30. This is our deal analysis meeting. Anita Borgaes (previous REIA moderator) and I (also previous REIA moderator) will each be going over a recent deal on power point. Then we open the room up to the white board to analyze what the group may be interested in. Very good networking opportunity.
Rental Property Investor · Seattle, WA · Member since 2013 · 2k+ posts · 1k+ votes
12y
Welcome, Paul, from about an hour north of you. It is a shame that the Portland and Seattle markets are so tight, but guess it is the price we pay for living in such a lovely area. If you haven't checked out the podcasts yet, episodes 79 and 83 are interviews with folks practically in your back yard. And lots of great ideas there on creatively investing in real estate.
Residential Real Estate Broker · Beaverton, OR · Member since 2014 · 335 posts · 149 votes
12y
Hi Paul,
Welcome to BP, I live in South Beaverton and have been attending both the NWREIA and Rarebird meetings and I learn something new every time. I'll be at the Rarebird meeting tonight . . . hope to see you there.