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Updated over 8 years ago on . Most recent reply

User Stats

108
Posts
33
Votes
Chris M.
  • Portland, OR
33
Votes |
108
Posts

Hey guys, newbie here and huge BiggerPockets fan

Chris M.
  • Portland, OR
Posted

Hey guys, my name is Chris and I've been watching the BP show on YouTube for a few months now and quickly became addicted. 

Not sure if it's typical to ask a question in intro posts, but here it goes: what are the best resources to get a sense for a local market? I'd like to know where prices are typically at in certain areas, how fast houses are being bought etc. Is the MLS the best resource for this?

Truly appreciate what you guys do and look to be purchasing my first house via creative financing by 2017. Thanks to anyone for their thoughts on my question.

Most Popular Reply

User Stats

108
Posts
33
Votes
Chris M.
  • Portland, OR
33
Votes |
108
Posts
Chris M.
  • Portland, OR
Replied

Hey @Shane Hedeen thanks for the detailed reply! Really appreciate this.

I'm interested in finding a real estate agent to get access to the MLS. Here is my idea currently (subject to change depending on continuing education/feedback): to get started in real estate investing I'd like to purchase a single family home in my local (Portland, Oregon) area. I'm looking to get a fixer-upper, but not a total overhaul. Basically something that needs no more than $30,000 in rehab, mostly cosmetic upgrades. I'm going to be primarily searching for owner financing deals (I'd like to avoid banks if possible). Then I plan on flipping the house within 24 months of the initial purchase.

That's my short and very rough outline of my plans. I'm living in North Portland currently which is a low income but up and coming area. I feel a sense of urgency to start investing soon, but as a small business owner who just showed a profit for the first time two years ago, disposable income doesn't come easily. I've started a house fund but am hoping that with owner financing/creative investing I won't necessarily need a down payment as large as 30% of the house value.

Shane, where can I find real estate agents in the Portland area? Is there a list, website or resource that has real estate agents' info?

Thanks again and look forward to your reply.

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