All Forum Posts by: Jacob Wathen

It definitely depends on the cost. I believe it would be nice to present that with the packet of things that I do for my sellers but it would have to make sense with the property. In my market there is a photographer that offers that service for 25 extra bucks. Unfortunately they only have their marketing information on the handouts. 

Hello @Travis Jones, 

I am always excited to see more investors moving to Portland! Although I do agree that looking for a SFR may be your best option if you want to be in inner Portland I would suggest looking towards Gresham, Tigard, Tualatin, Troutdale, Happy Valley, and Clackamas for small multi families that will fit within your budget.

Although I agree with Mathew and Daniel that Gresham can be rough I think it does have great long term investment potential. There are a lot of renters in the area and with it being on the lower price range of the Portland Metro it will likely appreciate. Gresham is closer in proximity to Downtown Portland than Beaverton, it is close to the Columbia River Gorge, and reasonably close to Mt Hood. There are a lot of reasons that I think Gresham has a lot of potential. 

If you are looking for a more A neighborhood then Milwaukie, Happy, Valley, and parts of Tigard/Tualatin would be your best bet. 

Jacob Wathen 

That is an awesome position to be in at 19! I had a similar experience and while I was in my freshman year of college I purchased a couple properties in Nebraska and rented them out to classmates while I was living in the dorms. I strongly suggest finding a good deal and house hacking for as long as you can bear it. Get a small multifamily (2-4) and rent out the other unit(s) as well as the other rooms in the home. Let the space work for you. 50K is a healthy downpayment but I don't necessarily suggest dumping that all into one property. 

Talk to one of your preferred lenders that understands the investment side of real estate and they will be able to help you figure out the best path to take when it comes to financing. Cottage Grove is an awesome place! I love the lake and the bike path around Dorena lake. I finished up college in Eugene at Northwest Christian University and I am very familiar with investors in Eugene. Go to the NWREIA meet ups. They are always very informative and the more seasoned investors would be happy to help you purchase your first investment property! 

@Brandon Drayden, Going to open houses was very beneficial! Just be mindful of the agents' time and if there is another client in the home, disappear. haha 

There is a lot that separates the different companies. Look online for a list of questions to ask RE brokerages prior to joining and consistently ask the same questions while meeting with the recruiters. Take notes and compare at the end. If you want to focus on working with investors, military, first time homebuyers, luxury, etc. find out which company will get you there. Of course most agents don't stay at their first brokerage but it would be great to find the best fit early on. 

If you join a real estate team you would likely be given leads. That being said you will be giving a big chunk of your commission in order to have their support but it isn't a bad idea if you don't have a network and things like that. 

No problem! And that definitely makes sense. Generating your own leads, that’s awesome. 

Hello Charity Hanif I am an agent/investor up in Portland and although the cash flow you seek is not in Portland I can definitely help you locate markets that cash flow more with higher cap rates. I’ll shoot you a message :)

That sounds like a great connection Thomas! Feel free to pass me his info via messaging I am always looking to network with investor friendly agents and I actually have quite a few friends in Buffalo. 

Jacob Wathen

@Thomas Poloncarz Jr I agree with @Casity Kao! Depending on your investing goals I would also have your realtor/friend set up a keyword search. 

For my clients that are actively searching for flips I create a search and include things like fixer, flip, distressed, potential, investment opportunity, investor, etc. That tends to generate a decent amount of deals in my area. 

Bring it to a real estate attorney. I am not familiar with any in Georgia but it is definitely worth passing the documents to an attorney to look them over so you know exactly what you are getting yourself into. Good luck to you! I want a RV park/mobile home park in my portfolio within the next 10 years. 

Hello @Brandon Drayden! Congrats on getting your license! That is a huge step. 

I strongly suggest interviewing with a variety of brokerages. Don't get too hung up on the commission split. Most of the brokerages that offer the support you need as a new agent will likely make the same amount off of you no matter what. Haha 

I interviewed with 18 offices in Portland, OR before I decided on Keller Williams Realty. I feel that I did my homework and went to a few of their classes prior to joining and they simply had the best systems in place to assist me in starting my business. I started out on a time but here I am 3 months in and I am now a solo agent. I learned a lot on a team but ultimately I wanted to grow my own business. 

The profit share idea for KW is very cool! I know people that make a couple thousand a month in passive income just because they brought on a couple of agents. I definitely do not think you should join just because of that but there are so many things that attracted me to KW as a new agent that I decided it was the best option. 

Just do your homework and pick the brokerage that you believe will help you achieve your goals. I also went to 10 open houses per weekend while I was getting my license to speak with agents hosting the opens and get their 2 cents. It was extremely valuable and helped me make my decision. 

I am happy to answer any other questions you may have regarding other brokerages but my experience is specific to Oregon. Most national brokerages have the same systems in place in each office though. Good luck to you!

Jacob Wathen