oregon coast investors

[Tristan Huff]

Hi all-  Been listening to podcasts for a while and figured we should check in here.  My wife and I are looking at real estate to help us towards our goal of early retirement a la Mr Money Moustache.  We are both in our low 30s.  We've bought and sold a few houses and did ok on a live-in flip and finally built the house we're in now.  We have around 500k equity in this house and want to put that equity to work to create a rental portfolio that can supplement retirement income in 6 or 8 years hopefully!

Right now our strategy is to use a HELOC (260K for now) to buy and hold single family and small mulitfamilies. We've already bought a 4/1 for 65k that we are in the process of converting into a 2/1 and 1/1 duplex. Hoping to cash flow $250/m when all is said and done, but we are doing a lot of work ourselves (I know, I know!)

Not any good deals showing up on Oregon Coast on RMLS (2% rule seems impossible and 1% rule is a bit of a unicorn) so we are starting to wonder about looking outside our local market some. Anything else we should be considering doing with this HELOC?

Anyways,  looking forward to digging in the forum more and getting to know everyone here, seems like a great group of folks!