All Forum Posts by: Haley B.

$250K is the purchase price-- I'm hoping to do an FHA loan. The limiting factor is the cash for the down payment mostly. We can honestly afford more but I think we settled on that because it's what we're comfortable spending. It's our first deal so we don't want to go all in if it doesn't work out/we can't get a tenant.

But I will definitely run the numbers and see what can work for us. We might be being too cautious..

Originally posted by @Jason Powell:

what city (s) are you considering in Oregon? It's a big state with vastly different rental markets amongst cities. Is 250k the cash you have or max purchase price? If purchase price, what is the limiting factor for that (cash for down pmt, personal preference, DTI ratio?)

250k is a low purchase price target in most major OR markets, especially for 2-4 unit.

Originally posted by @Ryan Conklin:

Been trying to do this myself...I’m having a hard time finding anything that makes sense near Portland. I️ am not sure about outside of a 20 mile radius of Portland but from what it seems (spent the summer there) the neighborhoods are hit and miss. I️ think the rents have yet to catch up to the home values so it’s been hard to find something that would cash flow after moving. I’m sure there are deals, so good luck!

Thanks for responding! Part of the reason we're drawn to Oregon is the natural beauty so definitely somewhere with outdoor activities. However, I work in marketing in the tech industry and though I'm flexible about this, it would be nice to stay in a similar field. Being said I'd probably want to live close enough to commute to a city. Any areas like that? 

Originally posted by @Chris Bate:

Hey Haley,

Oregon is a pretty diverse area so that is a complicated question but i would look outside one of the more popular cities. Maybe a suburb of Portland if you want to live near a bigger city. If you are looking more in a in the Central Oregon area Redmond is a good place to start only 20/25 min from Bend which has some of the best outdoor activities Oregon has to offer. Not that there are not deals to be found in those more popular cities. They just seem to be harder to find and seem to be higher priced for the most part. Have you guys decided on what you are looking for (type of place you want to live in, big city, outdoor activities, mixture of both, things like that?). Oregon has a lot of choices for different styles of living :) I have lived in several different parts of Oregon i could give you guys pointers on that side but i am new to real estate investing so maybe someone else might be able to help more on that end.  Good luck with your search and I'd be glad to help if i can!

Originally posted by @Jeffery Lee:

@Haley B. $250K can get you a SFR in Pierce County (Tacoma,Puyallup,Lakewood,Fife), Possibly in the outskirts of Snohomish. Which are areas in WA in recent years where rental rates & potential equity appreciation are solid. MFH, you may need to look east of the Cascade mountains or outside of the Tri-counties (KIng,Snohomish,Pierce).

Have you spoken to a lender? I have a couple of clients starting out in RE investing and are looking into MFH w/ an FHA loan. This seems to be a solid strategy for them. Minimizes the down payment but allowed them to increase price. I am not a loan officer, but maybe you can chat with one?

I hope this helped.

Originally posted by @Ernie V.:

Originally posted by @Haley B.:

@Ernie V. more like we just want to live there haha

 Have you been there before? If not I would recommend to check it out before you move there.