All Forum Posts by: Jacob Alastra

He gets to put his money into an appreciating asset that he doesn't have to manage. Works for both of us. 

I just recently closed on a 4 plex in SE Portland off 52nd & Burnside with the help of my cousin as a partner. I am living in 1 unit and renting out the other 3. 2 Units were empty when I moved in which meant I had to fill them as soon as I could find suitable tenants. Both are now filled within a month at market rate rents!

I just want to shout out Chace Fraser, an agent in Portland and a huge help for me during the whole process and continues to be a source of knowledge. I met Chace on this forum, so anyone looking of an agent I highly recommend him. 

Numbers:

Purchase Price: $900k

Down Payment: Minimum down payment with Co-Borrower is 25%

Monthly mortgage w/ Insurance: 3650

Rent Collected Monthly: 3800

The only bill that comes out of my pocket is the water bill for the building and garbage, when split with my Girlfriend comes out to $150 a month to live here.

Would love to here some feedback from you guys, this is my first deal and I feel like I did a pretty good job (with the help of my team). 

Hey everyone this is my first post. I am in the saving stages of my investment journey and am trying to figure out what the best path to success would be.

I am interested in my first deal to be one that I can house hack. I am not interested in large single family homes ( girlfriend wants privacy), so really am interested in duplex, triplex, and quadplex's. I have been analyzing deals of duplex's that have sold in the NE/SE area and am not seeing a way to get close to breaking even on the mortgage cost let alone taxes, repairs ect while occupying one of the units.

I will be looking into an FHA loan, so hopefully that means I would only need 3.5% down. Would I be wiser to save a higher downpayment and look for a 3-4 plex that will be likely to break even/ cash flow? My hope is to not stay more than a few years, so eventually that occupied unit will be rented out as well.

I would love to hear from any investors in the area who have any advice, or have gone through the sort of path I am looking to take.

Thanks, Jacob

Hey everyone this is my first post. I am in the saving stages of my investment journey and am trying to figure out what the best path to success would be.

I am interested in my first deal to be one that I can house hack. I am not interested in large single family homes ( girlfriend wants privacy), so really am interested in duplex, triplex, and quadplex's. I have been analyzing deals of duplex's that have sold in the NE/SE area and am not seeing a way to get close to breaking even on the mortgage cost let alone taxes, repairs ect while occupying one of the units.

I will be looking into an FHA loan, so hopefully that means I would only need 3.5% down. Would I be wiser to save a higher downpayment and look for a 3-4 plex that will be likely to break even/ cash flow? My hope is to not stay more than a few years, so eventually that occupied unit will be rented out as well.

I would love to hear from any investors in the area who have any advice, or have gone through the sort of path I am looking to take. 

Thanks, Jacob