All Forum Posts by: Cori Leste

@Steven Barela Check out Vacasa. They will completely manage the whole thing, including linens service, photography, customer support, etc. They’re also starting to help people invest in rentals so they can manage them.

@Scott Hutter Super helpful. Now I’m learning something - thanks!

I live in Oregon and looking for duplex within 90 minute drive from Portland. Everything on MLS runs waaayyy in the red for cash flow and and ROI. Example: new construction duplex listed for $469k. 3br/2ba one side and 2br/2ba the other side. BOTH units rented for $1300 each.

Serious question, who buys these? Buy and hold (like until forever)? Just curious how markets around me can be priced in a way that loses most investors money for years.

@Phillip Pommier Hi! Do you wholesale multi family? Feel free to private message me.

Thank you @Jacob Wathen! I will contact him. I started reaching out to property managers in the area to ask whom they’d recommend and have gotten a couple names. So far only one of those agents has replied and she was a touch on the condensing/curt side, so I’m happy to have another referral. Much appreciated!

I normally wouldn't be interested in Eugene as an investment market, but my husband is starting law school there in the fall and we don't want to move the family there so we'll move to Portland and buy a property in Eugene where he can stay a few nights a week and rent out the other rooms. It has to be on track to cash flow even a little (assuming his room was rented to someone else). By the time he's done we'll assess whether to hold or sell. Nothing I've seen on MLS comes close to the 1% rule though... just don't want to throw away rent for him.

Hello, we’re looking for an agent super familiar with the Eugene market - especially around campus - who can help us find a rental property that checks certain boxes. We want someone experienced with investors’ needs. Any recommendations?

I’m currently in the Bay Area but will be moving with my family to Eugene while my husband goes to grad school. In addition to some other OOS investing I’ll be doing, I want to buy a Portland home in a desirable neighborhood for families and rent it out while he completes school with the idea that we’d fix it up in 2 or 3 years and move in ourselves. I’m looking for a realtor who’s investor-friendly and can help find the right property for this plan. Cash flow would be ideal, but for this particular property I’m most concerned with the location being one we’d want to live in (A+, A neighborhood, ability to find renters, needs cosmetic work but still liveable, and at least break even (not counting assumed appreciation). Let’s me know if that’s you or you know someone. Thanks!

@Chris Sellers: Thanks for the reply and for sharing your approach. I never even thought about how "Bay Area" might affect negotiations. Great point. 

I know my idea of buying with cash is slightly controversial since it brings down my ROI. My concern is wanting the most cash flow right now, but maybe I'm still not evaluating the leverage option the right way. Would love to hear yours and others' opinions on this. Thank you!

Hello fellow BP’ers! Been lurking for a while as I learn and formulate some strategies. I currently live in the Bay Area and work at a tech company. My husband has decided to go to law school out of state (still waiting to hear back on where he gets in), which will mean losing his portion of our income and possibly cutting mine substantially since my out-of-state job options are limited. The strategy I’m currently thinking through is selling our home and aggressively investing the $500K proceeds in OOS rentals (and possibly also a new personal residence); buying as many for all cash as possible, and possibly using debt for some, with the goal of replacing his income and the hit to mine while he’s in school. I have a basic understanding of how to evaluate properties and how to calculate operational costs, and the risk of investing OOS, etc. What I need more help with is how to come up with the formula of the right mix and timing of all cash deals and mortgaged deals, starting with my investment number and cash flow goals. I have a couple markets in mind but would appreciate anyone’s advice on this plan, markets and any insights or gotchas. Thank you!