All Forum Posts by: Daniel Jodrey

Hello BP!

I have been apart of the BP community for many years, however have still not made my first purchase. I recently moved back to the Pacific Northwest near Vancouver and am hoping to begin here. This is where I grew up and my family is located. We plan to be in this area for foreseeable future. I have solid savings currently, for down payment on what hopefully will be several properties. I am interested in Vancouver, Battleground, Camas, Ridgefield areas and also Portland if good opportunity exists. Looking firstly into Multifamily for both long term and STR - but not opposed to single family.

I am hoping to connect with both investors as well as Real Estate agents in this area to understand the market better ( I have lived elsewhere for the past 10 years) as well as what areas may make most sense and with what strategy. 

Very much looking forward to connecting and thank you!

@Andy C.

Hey Andy, still havent pulled a trigger. We continue to save but what i have learned is it is not only expensive, but HOA's rule up here. Huge Condo market with very high HOA's. Many locals up here despise STR and are working hard to rid of them. South Tahoe has already banned. We are trying to see how the market works out with the Pandemic, but strangely everything up here is selling like hot cakes because many people from the Bay are moving after they realize they can work from home but live in a more pretty place.

What do you think? Are you invested at all in this area? Thanks for reaching out!

Hello BP,

My wife and I are moving to Squaw Valley for work and we have been working toward buying our first property. I feel like we are ready and have good savings, no debt, strong credit. We have been researching the area as best as we can and see Reno has more affordable housing. Pretty much everything in Squaw Valley is condos. I would like to connect with investors in this area and discuss strategies. We are open to different investment strategies. We do not want to pay rent any more! Looking forward to hearing from investors in the area that can provide some insight to what is working or can work.

Daniel

Hello BP,

We have officially accepted a job to move to Lake Tahoe and will be working in Squaw Valley. We only really have about 4 weeks to find a place. We really would not like to rent. We have been saving for some time now and are ready to pull the trigger on the right deal. We are looking for a knowledgeable real estate agent in this area that can help us. We feel like Reno may be a advantage because of taxes and growing market but still relatively affordable. If we can find the right place we could be buying in the next month so we need someone aggressive that can work with us! We would be looking for a place that needs some love but has solid bones. Multi family would be ideal, however single family would be ok as well. Look forward to hearing for the community soon!

Daniel

Hello BP,

I am looking for investors as well as agents in the Portland, Vancouver area to help me. I grew up in Longview WA and have been moving around the US with work and saving and learning about real estate. It appears that i may be transferred back to home in Portland. I would like to see investors and how they are doing in this market. We are looking for a multi family to house hack. Also would like to see if a real estate agent would be willing to help me set up a portal on the mls to start getting an idea of prices and how the market is for multi family. Any advice/opinions would be welcomed.

Thanks!

@David Clinton III

Thanks David, I sent you a message.

Hello BP

I would like to see if any investors / real estate agents from Spokane would like to connect. I am interested in Multi Family there. I currently live in California and market here is very expensive. I went to school at WSU and know the Spokane area. There would be a good chance my wife and I eventually move there but for now would be out of state. Passively looking at multi families there i see that some properties come close to the 1% rule. I have close friends living in Spokane as well that have and can help. Looking forward to hearing from anyone in the Spokane area that can lend some help. I know that an Amazon Fulfillment center is being built there as well which i feel can only help the market and home prices.

Best regards,

Daniel

Hello BP,

Looking for any investors/agents/contractors that invest/work in or near Lompoc, CA. I am interested to learn more about this city and market. Any real estate agents in this area that could possibly help to set me up on a MLS portal would be great. Interested in Multi Families!

I am in Santa Barbara and looking to buy and commute as i dont have enough money to play the game here in SB.

Been looking at Ventura area for a while but also so is very expensive. Seems that Santa Maria and Lompoc area is the closest, most affordable market to SB. Curious to hear others that may have had some work or success in these cities

Thank you,

Daniel

Daniel

@Malia Domingo

Hey Malia! I live in SB and unfortunately do not know much about the air bnb laws. However, i would love to offer any assistance to you in any way you may need. I am an aspiring investor that has yet to get my first property and experience. I am looking everyday at MLS listings and running numbers. We are mainly looking in Ventura and Oxnard as pricing is somewhat more reasonable that what we have here in Santa Barbara. If i can connect with nearby investors, and be able to learn something and earn experience, i would be happy to. Let me know!

Hello everyone, thank you all so much for the feedback. I understand and agree with everything that has been said. I know that ultimately i need to be factoring in all costs. If i am being honest, running the numbers on the property i am looking at now, including a PMI and mortgage insurance and all variable expenses, where i believe i can get rents on both sides the property would come out even. However again, we would not be renting out both sides in the beginning but we would live in one side.

I feel that in Southern California it is so rare to see anything that works. I would say that this is most likely true in most parts of the country these days from what i am reading and hearing.

I feel our goals are slightly different at this point in the game and i am trying to gage on how our current situation can affect our decision making. This would be our first property , and one that we are trying to live in. The property would absolutely be a value add on as it is old and simple updates can make a big difference (paint, cupboards, landscaping etc). We really at this point want to get in the game and supplement our monthly cost. Currently we pay $1700 in rent for a very small studio in Santa Barbara. In my mind, if i can find a duplex to house hack and have that other side rent payment make my mortgage less then $1700, i am starting off well. And then the goal is when we are ready to move out (would be several years after) have the second half rented and be cash flowing. I just cant get over the PMI and how that crushes my numbers, and we do not have the money to put 20% down. I know that PMI is not forever and will go away after a certain %LTV.

If you can make sense of anything i am saying let me know. Thank you all again for all your time and feedback.