New Investor in Oregon

[Josh Lovvorn]

Hello all.  

I've posted once with one question, but thought I would do an intro post as well.  I am a pediatrician in Eugene, OR, married with three children.  I work full time and my wife works part time as an RN.  We have a good income, and we'd like to be more active in real estate.  We currently have one single family rental with great renters in it.  It was our first home here, so it is on a 15 year loan which we are currently refinancing to bring down the monthly payment so that it can go from cash negative to cash positive.  Within 3-5 years we would like to add one or two more rentals.  Baked into the 3-5 year timeline is clearing some debt and deciding if we will stay in Oregon long term.  We are planning to stay, but sometimes miss the South and could consider going back at some point.  

We are interested in buying in our backyard, but we are also considering the Little Rock, AR and Birmingham, AL markets.  We did our training in both areas and have family in both areas that could be boots on the ground for us.  They are much cheaper markets for buying compared to my area, but I don't want to jump in there unless it was the perfect opportunity.