All Forum Posts by: Jeff Moe

Hey there Steve. I am from Portland and also tabbed Pensacola as somewhere that I wanted to invest. I currently have one home under contract near West Florida University. I have decent knowledge of the area but also have mainly made some really good contacts. Feel free to shoot me a message and I can pass along some info for you. Best of luck. 

@Ian Crist !

I am actually looking to co-sign on an FHA loan with a buddy of mine and have him live in one of the the units. I love that your scenario is exactly what I pitched to him to do as well. I will try and reach out to you since you seem to already have a lender in place.

The biggest pitfall I seem to have, is finding a Multi family that has a decent purchase price and still comes close to having a positive cash flow. Hope you’re doing well. 

 @jacob wathen    Vacation rental. I'd prefer to just get a PM company to oversee renting it out other than a few dates that I'd want to black out for family vacation. Does anyone know how well homes are cash flowing via nightly rentals? I've heard people claim to make 20k profit after all expenses. 

Hey all. I have money set aside to buy a second home and I've searched out investing long distance but am now considering investing on the Oregon Coast. We live in the Beaverton/Portland area so it would be much closer than any of the midwest or SE markets. Ideally, we would want a home with a great ocean view or ocean access. Does anyone have any advice/success stories working with any specific PM or rental company? I'm fine paying 30% if it means I can be totally hands off. 

I know that Lincoln City is pretty strict about their nightly rentals that they allow but I haven't heard about any of the other coastal towns. I don't want to buy a home and then just have it sit empty other than a few weeks a year that we could get out there. I would love any advice or insight. Thanks. 

I think my original post was poorly worded. I don't intend to do long distance fix and flips. My main goal is buy and hold but if experienced investors thought that my assets were inadequate, then I would instead try to do some local flips to get some more equity. 

Thanks for the info. I've been a very passive investor up until this point so I just let my financial advisors from Northwestern Mutual run my accounts up until this point. I want to be more hands on so I appreciate all the feedback from tapped in investors/advisors like yourself. 

I have not shopped it around. I can look into some of the credit unions around the area here to see what they have to offer. I am fairly ignorant to the self directed IRA; could I transfer over my 401k(20k in it) and my brokerage account(40k) into a self directed IRA or does it still have $5500 a year cap on added funds like a Roth IRA? I'll look into Prosper peer to peer as well, thanks.

If I invest in Florida, or any out of state property, I plan on seeing any property in person before I acquire it and will also run my own analysis of the deal as well as make connections with several realtors in the area to ask their opinions on: neighborhoods, potential for appreciation, previous sales history, crime rates, etc. I would also meet with several property management companies(would ask realtors for recommendations) before choosing one. Realistically, probably just 2x a year would I go and check in on the properties. 

My long term goal is to own as many cash flowing properties as possible. With this as my goal; I think getting some cash flowing multi families is the best way to start out. I know that everyone says to just focus on one goal but I've contemplated flipping and re-investing the capital(1031 exchange) from those deals as down payments on more MFH's. I definitely don't want to over extend myself though. 

Basically I'm asking...

- Should I use HELOC to just flip for now

- Should I use HELOC or other means of money for 20% down on several MFH's(I could pay off up to 100k in HELOC next year with a trust fund)

- Should I buy one MFH and then try to flip as well

Hey all, love the site and the podcast etc. 

I am looking to get into REI and am trying to find the best avenue possible.

- I have 200k in home equity that I could leverage into a max of 140k in a HELOC(approved already)

- 100k in trust/retirement funds

- 40k in a brokerage account

-15k in cash

I am in the Portland, OR market, which has been very hot and is hard to get return on rentals(around .5% per month). Should i be looking into other markets( I like the Jacksonville, FL market a bit)? I don't want to overextend my leverage and abuse my HELOC but also don't feel like I have enough to start out with outside of that.

Should I use my HELOC to oversee a few flips to build up my equitable assets before I look to buy and hold?