All Forum Posts by: Alexander Velez

@Keith Pinster I would love to have that information.  That sounds very useful.

@Christian Rojmar Investing out of state? Sure, I think is important to diversify. Some markets may be affected more than others when hard times come by. So I am looking into possible future risks and exit plans as well as going to different state markets. I am just doing you could say constant training and analysis everyday, talking to different people in the area so that I can learn more. 

@Carter Butler Thank you for the book suggestion, I will add it to my list! Also, that was a possibility in my mind to invest in other areas such as out of state. It seems like difficult thing to do but definitely  worth getting into. 

Hi everyone. My name is Alexander. I am currently interested in starting in Real State investing. I want to start in multi-family homes. I live in Hillsboro, OR. So I've been looking into Hillsboro, Beaverton and Portland Markets. Most of the prices here in the market are really high most of the good neighborhoods are ranging between 400k+. I don't know how to get started in this journey specially if I have to put a 20% down payment for the deal to produce some cash flow. The cap rates in this area are pretty low. It seems like a very difficult market to get into. I decided to post here to introduce myself and get to know other people that are making deals in these areas. 

I would also appreciate some tips on how to get started too. I have read several books already, including Brandon Turner's book on rental property investing. I have learn a few things on how to get started but it also feels like I don't know anything yet. I did get the idea on how I should I do my analysis of the property, how the due diligence should be, and most importantly to create a team that should include lenders, property managers, contractors, etc. to get started.

Some of the questions I get after going through all of this, specially if I want to start in my local market are the following:

Should I accumulate some saving from my current job before starting to invest? Enough for a down payment on the first rental property? I ask myself this because some properties lose some or all the possibility to cash flow because of the mortgage payment.

Should I just wait till the supply increases on my area to start investing? This for me seems like it would be dangerous, specially if the property prices continue to increase.

I sincerely thank everyone who read through this post and took the time to answer.