All Forum Posts by: Chris Gibbs

Most jobs put a ridiculous amount of qualifications on the ad to weed out the losers.   It's up to you to sell the employer that you are the right fit and can learn the job.   Worst case is they point you in the direction of a more entree level position. 

I would say do not limit yourself.  If you run and re run your numbers and you have the capital to do a bigger deal it may be a good option.  If a 3-5 unit comes up and the numbers work for you and your partners goals then go for it.  Same with a 15-30 unit.  Follow the amazing deal and do not limit your options for success.

Welcome!  I am closing on a triplex on the 18th of November out in Gresham.  Have not really seen very many good deals lately but I am sure they will pop up if you stay diligent.

I think that a calculator that includes two different loans on the same deal would be beneficial.

Example:

Property price is 1,500,000

25% is from a private investor at 7%

the rest is a loan from the bank at 4%

What is my cash flow after I put all expenses in and the monthly rent.

Welcome to biggerpockets!  It sounds like you are asking the right questions.  Since you cannot get financing of your own.  I would recommend trying to find someone that is doing buy and hold in the area and offer to help them.  The same way you learned while building the cabin you can learn from seasoned investors while you are going through college.  At the very least you can try to get a part time job at a property management company.  

How you present yourself in a professional manner all comes down to doing your research and expanding your knowledge in the field you wish to talk about.  

If you approach someone you want to work with, and you know the lingo and can follow the conversation of real estate then you will be taken more seriously with every sentence.  In real estate you need to build relationships and ask educated questions in order to eventually have the opportunity to work with professionals in the business.

I recommend reading and listening to the podcast to learn as much as you can.  And keep an eye out for meet ups in the Portland area (allthough most of them are at bars :P).  Keep an eye out for people you can work with and start building those relationships now so that when you are ready for your first deal you will have help.

Hello everyone my name is Chris Gibbs and I have been learning on bigger pockets for the last 6 months or so.  I am in the Portland OR market and am most interested in buy and hold multi family.  

I currently have a tri-plex under contract and will be house hacking with any luck in the next few months!  Anyways so glad that bigger pockets has been here to help me along with the education I needed to make the leap forward.  

Also for all you Portland people I will be at the meet up tonight!  

https://www.biggerpockets.com/forums/521/topics/34...

See you all there!

Helps a ton.  Sent you a pm. 

Hello everyone!  My name is Chris and I have been learning so very much from this forum.

I live in Portland Oregon and I have been trying to put together my first deal.

The goal is to buy an owner-occupied multiplex that we can fix up and rent.  

My father in law and I want to find something to partner in together because he is a general contractor and will be helping with the money down and with his contacts to fix the place up.

Best case scenario would be to use a 203k FHA loan to get started but from what I have learned a co-borrower cannot be part of a multiplex unit. I have a new job opportunity that I would like to take but that would disqualify me for the loan because I would not have the needed income history. I do not know what my financing options are for covering the property and the rehab.

Has anyone else had a situation like this? 

Any help would be greatly appreciated.