All Forum Posts by: Jamie Stone

Glad to have you here Jamie! More than happy to help you out.

It honestly depends on your long term goals. Here’s a truth: you most likely will not cashflow yourself to financial freedom, success, whatever you want to call it, in the state of Oregon with residential real estate. And that’s okay. We take what the market is giving us, play with the cards dealt to us, and we can still make it work.

Technically the BRRRR strategy has the "flip concept" built in with a few tweaks to your numbers. The rehab portion should be the point where you have two options: rent, refinance, repeat, OR flip, profit, repeat. If you are owner occupying this, it's easier to refinance and repeat because your LTV requirements are favorable versus non-owner occupying. It really depends on the deal and your margins, deal by deal.

There are markers in Oregon that are “profitable”. But I’m assuming you’re saying profitable as in flipping? Or profitable as in cashflow? Or equity? Focus on suburbs surrounding high population growth that are following job growth. Look at Happy Valley: they exploded in the last 5-10 years. And the housing market followed. Canby is growing a lot. You could go southwest towards Newberg, Tualatin, etc. Even as far south as Salem. But identify where large job growth is happening (Amazon, HP, etc.) and housing should follow. Couple that with any areas that have severe inventory limits and are not building new (Corvallis versus Salem) and that can be a huge incentive as well.

I don’t know what your goals are so I can’t answer your question very well; if house hacking isn’t in the cards, what are your cards then? Can you owner occupy a live in flip and then refinance and move on to the next one? Can you live and flip and sell? We’d love more details to help.

You could buy, rent and hold, maybe cashflow, maybe not, but hold for a few years until you’ve gained enough equity through appreciation and principal paydown and then sell 1031 exchange into cashflow (if that’s your goal). Maybe syndicating might be better for you? Or partnering up with someone?

Hope that helps!