All Forum Posts by: Jacob Wathen

Merry Christmas to you too!

@Austin Steed I still suggest looking for a partner. You look like a young individual so you should be able to find a friend that is willing to live in a 4-plex with you, ideally in the same unit. Just look for someone that wants to get into real estate investing in your area. Again, Bigger Pockets would be a great way to locate someone if you can't think of any friends or family members that would be interested. 

If you are not comfortable with relying on anyone else you can always just save up for the next year or so and when you are able to qualify your buying power will be greater. 

I am by no means a professional so you should definitely speak with a lender in your area that is familiar with unconventional forms of financing :) 

Hello @Jesse Brons. Notice that none of the people that commented have been from Oregon or even a similar market to Oregon. Like you said it is very difficult finding a duplex for under 200K, let alone 100K. 

Of course Portland is much more expensive than Grants Pass but it will still be very difficult finding properties that meet the 1% rule in your area. If there are ones that meet the rule they will likely be purchased for 5-15% over asking causing it to no longer meet the rule. 

There are other major benefits to investing in Oregon though. For instance, appreciation. We are still the least expensive place to live on the West Coast and therefore people from WA and CA have been flocking to Portland, Eugene, Medford, and Grants Pass. Also no matter what people say it is better to invest locally so you can keep an eye on your investment. 

I would be happy to talk to you further. I strongly suggest reaching out to other investors in Grants Pass/Medford areas to see what their numbers are. 

I agree with @Joe Facenda. As a Realtor I am aware of the market conditions and I can and will suggest to my client what I believe will actually secure the deal. In Portland we are in a very competitive market and even if my client comes up with a number 5% below asking I will likely advise them to put in their best possible offer. Good investment properties are getting well over list price with multiple offers, sometimes dozens. 

Any good Realtor will be in contact with the listing agent and we typically know how many offers are in, approximately what the highest offer is, if other buyers have dropped their inspection contingency, if they are working with cash or hard money loans, etc. I will know how strong the other offers are so I will advise my client accordingly.

If my client decides they want to put in a low offer because that is what their model suggests I will happily do that. I will be very transparent with them though because I do not want them to get discouraged after another rejected offer. 

Again, I agree with Joe in that if the number I suggest coming in at is way too high for my client I will suggest that we move on. 

No matter what, my goal is to secure the best possible deal for my client. If their deal is profitable then they are much more likely to have me list the property as well as help them find the next one. 

Hello and welcome! I am an agent/investor in Portland, OR and I am always looking to meet other agents :) 

You can update your profile information easiest from a computer. Go to the upper right hand side and you should see your blank profile photo. Leave the cursor over the photo and options should pop up. Click on profile and it is pretty easy to update from there. Let me know if you have any specific questions! 

Although it may not be feasible for you most people that I know that are aching to get a property will partner with someone that can obtain financing easier. Whether that be a spouse, family member, or business partner you may be able to find others that are willing to do a deal with you. As an agent you can bring a lot of value and others will want to partner with you. 

Just put some feelers out there! If you can't think of anyone that would be interested go to your local REIA meet up or find people on Bigger Pockets.

Looking at online reviews are good but if I were you I would definitely speak to members of the local REIA clubs like @John Warren said. They should have plenty of decent recommendations and you can interview a couple to determine which one you mesh well with. 

I can ask my connections in Ohio for a good investor friendly real estate agent if you would like. 

Hello Preston, I am an investor/agent in the Portland area and I definitely understand your frustration with finding any multi family properties that cash flow in the Portland Metro. There are a variety of cities in Oregon that are still good investments in terms of cash flow though. Outside of Oregon I have had good experiences with Lincoln, NE and Iowa. The appreciation isn’t there but the cash flow is great. It is difficult to have both but it is possible. Look at some of the forums about Dallas/Fort Worth and that may help. I can connect you with investors or agents in cities that make more sense for your goals.

Hello @John Laney! I am not sure if you have determined your plan of action yet but I definitely think that agents, like myself, will understand where you are coming from. Unfortunately I will be out of town Dec. 22nd - 30th because I would be happy to show you a couple properties without any signed agreement or obligation. 

I appreciate how considerate you are and I am sure any other realtor that is available would be happy to help. I can connect you with an investor friendly agent in the Willamette Valley that is available if you would like. Just let me know! 

Utilize any free training you can especially when you are getting started. Go to any local investing meetings you can and just network your butt off and just be a sponge and absorb all of the information possible!