All Forum Posts by: Chris Gibbs

Hello @Justin Harris, I am a real estate broker in Portland, OR and the metro area is certainly growing. Although it is not necessarily in the outlying area the city of Gresham is growing rapidly. Property values there are increasing significantly because it is one of the least expensive parts of the metro area and people are flocking to that city to escape the high prices elsewhere. If you are looking for retreat like settings Mt Hood National Forest is a short hour trip away and I know many people in Portland that have a vacation home there. Sandy, Troutdale, and Eagle Creek are also great options on the east side. They are close enough in that they will experience tremendous growth as the population continues to increase. Let me know if you need any additional help or if you want me to help you find land in Oregon. I also know a few great agents in Washington and California that I can connect you with if you are interested.

What he said. I bought a triplex in Gresham in December of last year and it has already appreciated 40-50k.

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@Jay Hinrichs Really wish I could work with you in Portland! Hope you find the right person for the job.

P.S thanks again for you advise you gave me on the triplex I bought in Gresham a year ago its worked out great!

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Originally posted by @James Nix:

Hey everyone, I know this question can be state or city specific but coming from someone who never did a deal before that is studying my market to find an edge I would like to know what has brought you guys or girls the most success with buying a rental property for the long term from a variable stand point like a location with either a good school nearby or a low crime area or a high population growth from millenials? Basically from the three options which would you look for first

Punctuation is what I usually look for :P

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Originally posted by @Hardeep Singh:

@Robert Freeborn

Yes, that definitely make sense. I would rather get a 4plex as you will get more exposure to the REI, however, 4plex are way higher in price in my area. So I might have to move out an hour or 2.

Or I mean at the end of the day if you get financing it does not matter much if the 4plex is expensive because someone else is paying for it assuming you get a great deal.

The way I thought about it when I was buying my FHA house hack was that I only get one at a time. I might as well buy the most expensive one the bank will let me get as long as it cash flows when I move out. For me that meant getting a triplex because 4-plex put me into the jumbo loan category.

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When I was analyzing mine I would calculate it both ways on the rental calculator. One with me living there (and not paying rent) and one as if I was a tenant that was also paying rent. That gave me a good idea of what my contributions to the rental budget should be each month and what kind of cash-flow I should expect when I move out. Hope that helps!

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My first tenant turn over ever they left a tanning bed and couch.

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My fiance and I lived with 4 roommates in a house and saved as much as possible over a year to purchase a triplex with FHA financing.

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From what I hear its not all roses and sunshine in Texas either... high property taxes, shifting foundations. Every market has its strengths and weaknesses. People in cash flow markets look down there noses at appreciation markets. And people in appreciation markets end up not investing because they listen to the advise of people that do not have experience in that kind of investing. Not trying to dog on people I just believe that some of the responses on this thread are from people with strong opinions about markets they have never invested in.

@Hau N.

You should find a local successful investor to bounce idea's and possible deals off of.

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@Levin H. With cheaper properties like this you have to have a higher % because a lot of fixed costs are just as expensive to replace no matter if you get 800 per month in rent or 4000.

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@Nichole Stohler , That makes since I suppose it is easier to raise a $70-$150 room by 10% then a $1500 rental.

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All Forum Posts by: Chris Gibbs

Chris Gibbs has started 6 posts and replied 68 times.

Post: Land investing around Seattle/Portland and Salem.

Post: Foreclosure bidding agent Cleveland, Cinnicinati Dayton

Post: What factor has had the most successful impact on buying a rental

Post: Duplex House Hacking

Post: Using BP Calculaters for House Hacking

Post: What Crazy Items Did you Inherit on Your Property?

Post: Let's get real about starting out

Post: How is this for first deal?

Post: Newbie First deal: bought 2 rentals in one day/3 in one month!

Post: Zero to $5M: 3 Mistakes To Avoid