All Forum Posts by: Bleu T.

Hi! 

I live in Bend.

My two cents -

I agree...for resale reasons and better locations (driving, weather), I'd look around Bend, Redmond, Prineville...even a little North of Redmond. 

I know Madras is roughly 1300 ft lower than Bend...it's farming and ranching country.

I drive from Bend to Madras five days a week, and I can tell you the views are amazing (for the average home owner) in Redmond and further north.

I used to drive to Prineville to work from Bend, and there are some nice little parcels out that direction as well.

Cheers!

I really like your question! ...because it begs larger questions...

Why do most not save?

Why do most people carry so much debt?

Why do people not understand the fundamental difference between consuming and investing?

Why do people waste their hard earned money on expensive gas-powered carriages?

Agents are salespeople...strapped to a cyclical gig. 

The majority of Americans could benefit from a thorough reality check, and a tough regiment of self-education in the ways of personal finance.  

To be honest, buying a rental using leverage is the last thing most people should do.

Welcome, Matt, and congratulations on your rental and tenant.

Justin,

In my opinion your thought of buying a place that needs work, fixing it up, and getting roommates is a good idea.

I know buying a fixer works, because I did something similiar. I still live in it because it is a great spot, and also I'm saving a huge percentage on my mortgage compared to what people are paying in rent.

You essentially trade a lower price for a bunch of work, which was fine with me at the time.

If I did it again, I'd buy it ugly, and in a a great location, avoiding big electrical, plumbing or foundational issues. I'd get a thorough inspection and plan on spending some money as you work your tail off :)

If one has a good credit score, a solid job, building experience and ferocious worth ethic, much is possible!

I bought my fixer as my second property, renting out my first, but it could work in any order.

Cheers

In my opinion:

You want someone with years of residential carpentry experience, who wanted to be their own boss. 

Meet them in person, take notice of their truck and tool set-up. Ask them questions about your house, and let them talk (Gauge their knowledge)  Then ask for the addresses of their last three projects. (follow up on those)

If they hesitate, find someone else.

That's so awesome.  I hope to have the opportunity to attain this as well.

A job well done.

All the best to you.

Yowza! It is very different :) 

I'd talk to a stone mason before making a move. Usually stone is attached over the sheathing material with a vapor barrier and wire mess to allow the motar to bed in.

I'd be careful about figuring the labor to gently remove it (big hammers are awesome, but in good and bad ways :) It could take some time.

I love hardie-plank siding. Great for moisture, fire and bug resistant reasons.  I resided my whole live-in fixer with it.

Patrick:

In my opinion, I'd consider a couple of things...

First off, the best decision I ever made was to keep my first house by saving hard for the down on my second place. I rent my first house out now.

Second, I think your first "house hack" could be to fully utilize the house you have, while providing you with extra income to save for your duplex, or whatever you want.

- roomate/s

- segment off part of the house, and add a separate entrance (and rent it out)

Just thoughts...

Cheers!

Hello, everyone.  

Congratulations on looking for deals.

My perspective can't help but be effected by my experiences. In my case, I grew up helping build custom houses.

I want my investments to be hardy, and be easy to repair.  I'd have a hard time feeling good about buying a manufactured home in a wet climate for a quarter million.

If I'm off target, set me straight ;)

Don't let other peoples struggles become yours.  Choose the absolute best tenant you possibly can.