All Forum Posts by: Chad Duncan

I have been contemplating a few things and wanted to see if anyone has any advice. I want to grow my real estate portfolio, but dont really know the best way to do it. Here are some of the options I am thinking about; 1. Saving money for a 20% down payment and then buying a property. 2. Refinancing my current investment ($100,000 equity). rolling that into my next property or two. 3. Saving money, paying off my current investment ($250,000) and then saving for a 20% down payment for my next property. then paying that off before going into the next one.

My idea on the down payment is buying well below the present value of future cash flows. At least that's how I calculate my return and what the asset is worth.

I know the BRRRR strategy. My only issue with this is the reduction of cashflow. I believe its not worth it to refinance 90% of the value of your place. I ran numbers, and it seems that it increases risk exponentially in the short term. Especially with economic factors the way they are. What are your thoughts Scott?

I bought my first multifamily investment a while back and am saving up for my next one and am wondering how on earth all these investors are gaining huge ground. It seems that 24 units in 2 years is almost a norm, at least looking at success stories it is. 

How can someone go deal after deal like that? My idea/plan is to save money down and house-hack a 4-plex or something along those lines. How could I gain more units (5+) in short amount time?

Anyone know of a broker or agent in the Portland or surrounding areas? Im looking for someone that knows what investors look for and can find deals. 

Thanks

Hey everyone. I am in the process of getting a place and just had an inspection. During the inspection there were a couple red flags that they found;

- The foundation has cracked and shifted a little in 4 places. Albeit, the house is 116 years old, so settling is normal. 

- The basement didn't have proper ventilation and it grew black mold or some sort of mold throughout the entire basement. I find it to be a health hazard. As well as part of the crawl space had no plastic tarp covering the dirt. 

My question, is how can I make this a deal with these issues. Do I ask the seller to repair all items before closing? Do I just drop the price and fix them later? The price of the building is market value, if not a little above. The reason I want to go forward is that its in an excellent neighborhood, great rental space and the zoning is awesome.

Thanks

I am looking to investing in some vacation rentals. I am looking at costa rica, argentina, mexico, and some tourist areas of oregon and washington. If anyone has experience in this field, I would love to know more about it.

Thanks

@Neal Collins, I find that the properties that are in need of work in this area are ones that are still way over-priced for the amount of work needed. What is your take on that? What areas should I look towards? 

I am looking for a triplex or fourplex by the way. 

I am currently trying to find a solid investment in Oregon and have run into nothing but issues. When I find a property that might be worth anything, its either in absolute dismay, or it is off the market in a day. 

I know there are better ways at finding real estate deals. What are some ways in this market that I can find a good deal? Is it REO, HUD, Foreclosures, Short Sales?

Thanks

owner occupied. The problem is that there are too many issues for the appraiser to pass it as financeable. 

It needs a new roof, there's trash and junk everywhere, and it's a grandfathered triplex on a lot that designates no more than a duplex. Just a gambit of problems. 

The upside is that I could have almost $100k equity in it if I get financing.