All Forum Posts by: Benjamin Herrmann

@Justice Brooks 

@Bob B.is a great Agent in the portland Area! He specializes with investors and owns Rental property of his own. I highly recommend him!

@Jeff Webber I see you moved east last year. Did you live in your duplex prior to the move? If you have lived in your home for at least 2 years out of the last 5 years you should qualify for $250,000 Tax exemption on your gain if you're single and $500,000 if you're married. Of course I am not a CPA and you would want your CPA to confirm that.  

If you are self managing it would be tough being 2 hours away, however, if you have a competent property manager your headache could go away or at least significantly decrease.  I say that because it would be challenging to find another deal that would net you $900/month. 

Another option is owner financing. Since you currently have a mortgage on your duplex you would have to be careful not to violate the "Due-On-Sale Clause". There is ways around it like a Master lease or a 30 year lease option that reduces the principal with each payment. Owner financing gives you the ability to collect cash flow without the responsibility of being a landlord.

If you had 100K to invest in real estate what would you do with it? Would you loan it out to another investor? Spend it all on farming? Buy a small home for cash? Put a down payment on a multi-family?  I'm curious what everybody thinks the highest and best use of 100K is. I look forward to your comments!

When do they need it by? I may be able to help. Please pm me with details. 

@Justin LaPointe That is a great option! Right now there is 8 multifamily homes in yamhill county for sale on the MLS ranging from 220K to 360K, if you want me to send them over to you let me know! My wife and I started house hacking a few years ago. Living for free is the best!

That would definitely be a steal in Portland! 

@Randall Hicks Portland is a tough market, however, there is still deals to be made everywhere. @Jay Hinrichs is correct RAREBIRD is a great resource and it is full of people who invest successfully in the Portland area. 

I would recommend analyzing one deal every day. Most of them will be terrible but eventually you will find good ones with great returns. The more you homes analyze the easier and faster it will be to recognize a good deal. They can be on or off properties. Once you find a good deal and determine how much you're willing to pay for it and still reap the return you want make an offer worst case scenario they say no.

If you're looking for a cheaper market check out Salem, it is close enough you can still be involved, however, the real estate prices are significantly cheaper. The average price in Portland for a home is 415K in Salem the average is 240K.

Jacob, 

Welcome to bigger pockets!! There is a big investor community here in Portland. There is actually a group this Thursday at flying pie pizzeria 7804 SE Stark St. Portland Or. We will be going over how to creatively finance property to launch your investments. It would be great to have you!

I plan on being there!

Look into this too. Portland just passed an ordinance that requires landlords to pay for the move out costs of the tenants up to $4,500. I am not sure when the ordinance starts. 

http://www.kgw.com/news/local/portland-considers-m...