All Forum Posts by: Adam Y

Is it worth paying for this site?

Hi everyone,

Anyone close to portland that would like to get together for lunch and talk real estate? I am a newbie looking for some experience/learning.

(Yes, I am going to start going to the local investor meetings)

Hi everyone,

There is a parcel of land that is pretty much in between a bunch of other subdivisions. The parcel is 5 acres and has a small house on it and most likely a few trees that would need to be cleared. The house has been vacant for 2-3 years now.

XXOOOXXX
XXXXXXXXX
XXXXXXXXX

Each X represents a subdivision. The second 2 O's represent 2 parcels of land that haven't been developed yet. (well they have 1 small house on each one) The first O is a very large, very nice house, that is on the market for $1.3 M. Most if not all of the X's have house values, that are already sold, for 250k-425k. Most of them are in the $300k range. Each x represents 6-8 houses.

Here is how the parcel I am looking at is described.

Short plat approved for 8 9000+ sq. ft. lots. Already vested under prior storm water regulations.

How do I place a value on this lot?

I have to say that I am pretty shocked that most everyone is recommending loaning it out.

Is there any tax advantages or anything that gives a person an advantage to buying in 2012 rather then 2013?

Thanks for the advice guys. Sounds like I should go.

And yes I am prepared for the "hard sell" at the end. Trust me I won't be buying anything!

Hi everyone,

I am very new to RE and just wanted some advice. Is it worth the $39 to go to this class? http://www.northwestreia.com/clubportal/EventDisplayNew.cfm?clubID=939&EventID=172025&mo=9&tDate=%7Bd%20%272012%2D09%2D21%27%7D

I know at the end they will want to sell me a lot of high priced stuff but I figured maybe it was worth learning a few things during the seminar.

Thoughts?

Thanks!

Thank you to everyone who responded. Yes, I have been reading up on the 50% and 2% rules. I assume that they directly correlate to each other? I also am told that you use 0% down as a guideline?

$200k with 0% down 5% interest rate = $1074 monthly payment.

So rent would have to be $2200/month to make it cash flow by the 2% rule?

$2200 times 12 = $26,400
$26,400 divided by 2 = $13,200 (50% rule)

$1074x12=$12888 (mortgage payment)

$13,200 - $12888 = 312
Positive cash flow of $288

This does not include taxes or any other fees.

Hi everyone,

I recently decided that its time to start looking for a house to buy. Ideally I want to buy a home that I can eventually turn into a rental. I am thinking 5-7 years out, maybe sooner depending, to turn it into a rental.

At the end of this year I will have around $100k that I can do something with.

Any suggestions on where to get started? I have always avoided real estate but now I think is a good time to start.

I am in Portland,Oregon if there are any locals that want to shed some light on the topic over lunch.