All Forum Posts by: Chris Watkins

Sorry, I do not. You can reach out to CMG directly, and here are the agents in LV:

https://www.google.com/maps/search/cmg+financial/@36.1254929...

 Brian,

It can be used as a purchase. Minimum 10% down for primary (with mortgage insurance), 25% for investment.

Chris

Hi Temple! Welcome to the forums. 

I agree with Jason about how leaving too much in your primary will hamstring your investment goals. But if your husband is adamant about not leveraging your primary, you have to play the hand you are dealt.

If you want to owner-finance your current primary, you'll gain cash flow (acting as the bank), but sacrifice the cash you want to use for another primary or investment property. If you get someone to put 25% down on the $1.3M, that's only $330k in your pocket to buy your next primary, so you'll be carrying a loan there that will offset some of the income from your owner-carry note. Owner-financing can be a great strategy for passive income, but since you are now the bank, you need to do due diligence on the borrower to make sure they can make those payments. 

If you sell your current primary conventionally, you can take that 1.3M to buy a new primary with cash, then have the leftover to invest, but you won't have the income from the owner-carry note and your cash won't go as far on an investment property (>15% down) as it would on a primary (5% down). Too many variables to say which is the better move without knowing more.

The STR strategy can be great for cash flow, but it certainly isn't passive if you are managing the property. I have a PM for my STR and it is still quite a bit more work than my LTR's. I'm assuming that you're somewhere around Bend/Sisters based on your post. Both of those towns have stringent rules about STR's that can make it more difficult to find the right property that will fit your strategy. Not impossible, but more difficult. Outside the city limits of both towns there is more flexibility, but you want to be sure about what you can do with a property before you get under contract.

I'm happy to help strategize more!

Chris

Rick, 

Welcome to the BP forums. Lots of good knowledgeable folks on here, and good local PDX/VAN people as well. What types of tools are you putting together for sourcing?

Chris

Corie,

Welcome to the BP forums! Portland has a number of investor meet-ups. Like Jay said, Google will give you all the info you need. Are you located in Portland? Are you hoping to house-hack in both Portland and Kansas? I'm not familiar with the Kansas market, but house-hacking would work well in SE PDX as long as your cash flow expectations are low.

Chris

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Hosted by Chris Watkins of BorrowSmart Mortgage and @Melissa Hartvigsen of Redfin. 

Sorry for the acronyms, they just come out. With the large employers (Nike, Intel and others), the west side from Beaverton out to Hillsboro is a great place to invest if you have a long-term lens. 

As for STR/MTR vacancy rates, those can vary greatly depending on location. AirDNA is a good tool for looking into those specific areas and weighing the strengths. There may be some others on here with more experience in that specific area who can chime in.

I know @Melissa Hartvigsen invests herself in that area and works with investors in your neighborhood. I'd recommend connecting with her!

Hey Patrick, welcome to BP. What are your goals for investing? Beaverton (and Oregon in general) is more of an appreciation market than a cash-flow market. Unless you are doing value-add work or repositioning to MTR or STR, the cash flow isn't going to be as strong as other parts of the country. But there's a lot to like about the Portland suburbs as well, it just depends on what you are hoping to achieve, the skills or assets you bring to the table, and your timeline.

There's an AirBnB host meetup at Public House on 9/24 at 6pm if you want to connect with other local hosts!

Katie, 

Welcome to BP and to the Eugene investor community. Dan is a great resource so I'm glad you're connecting with him. I'm happy to share my experience with investment financing, BRRRR'ing, AirBnB, etc. as well. Shoot me a DM and I'm happy to help where I can.

Chris