finding the sweet spot in salem Oregon

[David Wiggers]

I have been investing in real estate in salem since 2010.  I started by building new on my first couple of houses and keeping them as rentals.  I have been a building contractor for 17 years so it was an easy thing for me to do and it made sense.  The 3rd house I kept needed a total remodel and it was gutted down to the studs.  That house was on a lot that could be partitioned and that is what attracted me to it.  But what I learned is that I could get a lot more leverage out of my time and buy at a bigger discount if I bought houses that needed lots of work.  This took me down a new road and I began to flip houses and have success.  My business partner and I have been able to flip about 1 house a month over the last year.  I was able to keep 2 of those houses last year.  I have vacant lots ready to build on but  I will pay retail prices to develop them.  The sweet spot has been buying houses that most investors, pass on, with the amount of repairs needed. I have out grown my lending sources and am looking for more money or strategic partners.  I am also interested in multi family housing.  I am not afraid of anything structural that is wrong with a house and I find that it gives me more opportunity to get a discount. Let me know if you have ideas or thoughts.  I now own 8 properties and want more.

Thanks, Dave