All Forum Posts by: Cindy Margheim

Congratulations! It's encouraging to see success!  Good advice about buying at the right numbers and having an exit strategy.  Keep up the good work.

Fully remodeled single-level home on over 1/3 acre. Zoned to build 4-10 units. Newly piped natural gas, newly installed high-efficiency gas furnace. Year built 1958. Updated 2014.

List price: 349,000

Purchase closing costs: 6,500 (approx.)

Estimated repair costs: 10,000

Total Cost of project: 365,500

ARV: 250,000

Monthly income: 8,750

Monthly expenses: 6,583.21

Monthly cashflow: 2,129.72

Pro Forma Cap Rate: 11.19%

NOI: 40,889

Total Cash Needed: 86,300

COCR: 29.61%

Purchase Caprate:11.72%

ARV is low. Numbers state no equity until year 30. (I know, that should give me a big "move on!")

My question:

Buy and increase equity using the buildable land (putting in additional units for care home or other allowed zoned units. )

Appreciate any feedback. Thanks!

Hi @Jenny Cunningham

What a excellent idea! Let's do it! My goal for this year is to do 2 flips and use the profit to build on more properties. My area inventory is about 1.6 months and not many great deals for flipping. I'm always learning about REI because the more knowledge I have under my belt, the better I can negotiate deals, accurately calculate repair costs and etc. If I could be of any help, let me know.

Let's rock it ladies!  Best of luck to all!

Hi @Sergiu Ionita. Everything is about acting quickly in this market - that's for sure! I won't waste my time working the bank owned properties because it is such a hot market and the banks will certainly hold and list those at retail. Congrats on finding that duplex! Those are even more difficult to find than SFR! I'm curious to what kind of buyers are swooping in to buy PDX properties? Most likely out-of-state with equity. I hear the first time buyers are being out bidded by those who can afford to pay more. Good look on your investing endeavors!

Portland, Oregon is a very active market right now, retail wise. I have perused the propertyradar.com site and not many foreclosures but quite a few of bank owned. With this being said, any Portland, Oregon investors out there finding great deals or are you buying close to retail and holding? 

Nice job! Making those mistakes were great learning experiences. Now, you will know what not to do and continue to do what had worked! Congrats and continued success!

Thank you! I will definitely start doing that.

Hello Jonna,

Thank you for your insight and suggestions! So appreciated.

Hello! We are in the process of putting together a team of people for my investment company and would like recommendations. If you are currently working with some great people and would like to refer them, that would be such a great help for us! Portland, Oregon is our market. We are shooting to rehab and wholesale. Need referrals for:

General contractors

RE Brokers

Cabinet Suppliers

Flooring Suppliers

Painters

RE attorneys

Property Management Companies

If there is anyone that you think needs to be added on the list, please let us know. Thank you for the help!

Hi Eric,

Thank you for the heads up! I will keep you in mind as we decide what to do with the property.

Warmest regards,

Cindy