All Forum Posts by: Alex Hake

Hey Everyone,

Its Alex on the Coast again. I try to analyse a deal every day, and lately I have been analyzing a lot of vacation homes managed by companies like Vacasa. 

Has anyone had success investing in vacation rentals? It seems like you can get very solid rents, but you also have to have a large (20-30%) down payment.

Any thoughts, any pro-tips? 

Thanks!

Hey Fellow Oregonian Investors,

I am just trying to connect with anyone wholesaling in Oregon. I am an investor and broker along the coast, and I would love to connect with anyone in the area who could teach me a thing or two?

Look forward to hearing from you,

Thanks,

Alex Hake

Thanks everyone for the awesome replies.

I live on the Oregon Coast, and (as a Realtor) I have encountered a lot of deals that fall apart when the lender isn't satisfied with the flood insurance or certificate. Most investors just say use cash and take the flood risk upon yourself.  Some policies here can easily be 20k/ yr

The main strategy here is for Buyers to assume the flood insurance already on the home. This can keep the costs down. 

How legal/ ethical/ possible is it to hire a surveyor that offers you that deal? How do they lift you out of a flood plain?

Would love to take advantage of that if its something that is possible. 

Hey Everyone,

I am looking to invest in an area that is a high flood risk. It is a small coastal neighborhood where their seem to be a number of deals but I think the flood insurance on any of the given houses might prevent any of them from cash flowing.

Any advice on how to invest in an area like this? I know its harder to get a loan, and a lot of people I know just buy with cash so they don't need insurance, but how do you finance deals like this? How to get them to cash flow?

Thanks,

Alex Hake

Hey Everyone,

You guys are the best, every week I learn so much from all of you and I can't thank you guys enough.

This question is more personal, and inspired by the quick tip on the most recent podcast. 

I am looking for people to partner with on the Oregon Coast. I am a Real Estate Broker in the Lincoln City/ Newport area and I have a lot to bring to the table, most of which is hustle and knowledge.

I moved to this area 9 months ago specifically to start investing in BRRRs and Flips in this area, but I am really struggling to find people who are doing the same thing to work with and learn from. I feel like I am stuck right now in my real estate career just wandering around trying to figure out what to do, but I have no real concept about how to make the next step.

Most of it is my fault for just being overwhelmed by trying to move my family to a new state. It has been a busy and rough winter out here, but I have made a resolution to break through all of that for the spring and summer. Any tips on where to start? 

Thanks for your time and input!

Alex Hake

Yeah, so a manufactured home on about .11 acres goes from about $150-200 along the coast. These are not in parks, they are generally standing in for where a sitebuilt unit will eventually go. Housing is expensive out here so a lot of people opt for this. 

My thought is, over the course of 10 years, the lot value on many of these properties will appreciate past the cost of the manufactured home, so I would love to buy and hold and see if I can pull that off.

Hey Everyone,

I live on the Oregon Coast, and there are a lot of manufactured homes out here. In fact, most of the "working" population lives in manufactured homes under $200,000. I am trying to run the numbers on these properties to see if they would make good rental properties, but I do not have a ton of experience with manufactured homes. 

Anyone have experience renting and financing manufactured home that they would be will to share with a newbie? Any experience with renting manufactured homes in expensive/ low inventory markets? 

Should I just run the numbers the same?

Thanks,

Alex Hake

OR Broker License # 201223333

Also @John Thedford, how did you get that cool signature bar at the bottom of your posts? (very newbie questions today)

"John Thedford, John Thedford|239‑200‑5600|http://www.capehomebuyers.com|FL Agent # BK3098153"

How can agents accurately state the value while still getting a % margin at the end of the wholesale deal? Is it basically just saying "I did all the work, give me a 5% cut?" or something like that?