New Member from Vancouver, WA

[Christine Johnson-Sundby]

Hello, BP!

I have been trolling BP for long enough.  It's time to introduce myself.  Here's my story:

I was a travel nurse in Hawaii in 1998 and happened to buy a condo because a friend was doing the same!  Now wish I'd bought 10 of them!  It's time to sell that beloved condo and buy something on the mainland via a 1031 exchange.  I've been researching/reading and listening to blogs.  I have a good realtor from Hawaii that is giving me a lot of info.  He'd be a great mentor, but he's too far away.  My first goal is to obtain enough rental properties to pay my current mortgage for me!  The Vancouver/Portland market is pretty high right now, esp for rentals.   The occupancy rate for rentals in Vancouver is 98%!  My plan is to buy and hold as I have experience at that, but I haven't bought a property specifically for a rental property.  I've got a small grasp on the basics and am ready to learn, learn, learn!

My realtor in Hawaii is suggesting I buy a condo (or 4) in Vegas. It's not on the MLS, it's being offered by the owner at 72,000. Rent is 750, expenses are $350. I have so many questions! Do I buy it outright? Put 20% down? 50%? I have a lot of equity from the Hawaii condo. Any help/suggestions/comments are appreciated! Thanks to all in advance!

Aloha,

Christine