All Forum Posts by: Chris Olson

I have a ton of equity in my primary home and I plan to stay here for another 12 to 15 years. My current loan is around 100K at 2.75% interest and estimated value of 650K. My payoff would be in 2021. 

I have an opportunity to buy another underpriced investment property which should bring me 5% to 8% cash on cash return, cover expenses and then some, and the ability to write off my travel expenses on a quarterly basis. The property is located in a great area and will be professionally managed. 

My plan is to use my HELOC to secure the down payment, then refinance the HELOC (6.25%) and prime into one for a new balance of 350K at 4.25% ish. I would like to take additional cash out (150K) for liquid savings. This option would also reduce my monthly mortgage payment by about $600.00 a month.

I am in this for the long haul. 

What do you think? 

Looking to see if anyone might be in the market for 16 unit apartment building here in Portland. 100% occupied.. I will provide more info if interested.  The property is not currently on the market. 

I took was able to take out a HELOC at 89% LTV at 4.74 interest only. I used the money to put down on 2 rentals last December. Both properties pay for themselves and pay the HELOC interest payment + I still cash flow which I then apply that remainder to the principal. The good thing is the interest is even tax deductible.

AJ, Welcome to BP. My name is Chris and I am licensed broker here in Portland. Let me know how I can help.

Hi Dakota, We are happy to sit down with you and discuss multi-family investing. We have a team of experts who know it well here in Portland. [Post edited to remove the contact info]

Looking for additional Portland OR investors to do JV partnerships with. We have a team of experts ready to help get you started.

I did the same thing back in Dec. I was able to take out 89% from primary. 128k.. I used 120k for a down on 2 single family homes. I have all PITI, HOA and the tenant paying my HELOC monthly interest only payment plus 150.00 cash flow on both. My goal now is to start paying down the principal so I can do some flips and more buy and holds. The great thing is the write off on the HELOC interest payments.

Way to go and hang on!! Im working on putting my first one together very soon. Important to have a good team on board.