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All Forum Posts by: Jenna Gollands

Jenna Gollands has started 3 posts and replied 5 times.

@Ryan Williams could you share the contact info with me as well? thanks!

Hi there,

I am looking at my potential first deal outside of Bend, OR. Below are the details:

- Single family home, 3 bedroom 2 bath

- 1464 square feet

- $310,000 asking price

- built in 2003

- 20% down with an est. mortgage of $1,347

The home is in great conditions and won't need any major repairs. My estimated monthly expenses (mortgage, taxes, insurance, PM fees, potential maintenance costs) comes to $2,040. This also doesn't take into account how long it will take to find a long term renter, I have been told by numerous PM that the demand is there and rental vacancy is less than 1%.

I am looking to use this home for long-term rental and have found that the average monthly rate is between $1,500-$1,800 / month. In my calculations below I used $1,800/ month for rent.

Crunching all these numbers it looks like I won't be breaking even at the end of the year and when I threw these numbers in BP's calculator, I wouldn't start making a profit until year 5.

Is this concerning? a bad deal? Am I missing anything here?

Based on the market, it seems impossible to get close to the 1% or 2% rule.

I have been told that the market looks like it is going to appreciate a lot since a lot of people are getting pushed out of Bend because of the high cost of homes and rentals.

Would love any advice! Thank you in advance!

@James Carlson Your tips were extremely helpful! I am based in California, but my family lives in Denver, CO and I am looking to invest in some property in the Colorado Springs area. I am open to either short term or long term rentals, but since this will be my first investment property, I was leaning toward doing a buy and hold for a single family home, long term rentals. How is the market for long term rentals?

I was also looking in the Bend, OR area and found it tough to find a place that would be cash flow positive (as I know a lot of the BP articles say is a must). 

I'd love to pick your brain on the market and best opportunities for rental properties if you have the time. Thanks!

Hi there. I am looking to invest in my first property and as most of you likely felt early on, it can be a bit overwhelming. I am looking to buy and hold a single family home via either short term or long term rentals. 

So far I have been looking at Bend, OR, Sunriver, OR, and Palm Sorings CA.

For example: In Sunriver, OR I am finding that it might be difficult to pay off my mortgage and monthly expenses via renting which to me seems like it wouldn’t be a smart investment then. 

A couple questions come to mind:

1. Any advice for a first timer? 

2. How did you determine which location was the best place and has the biggest ROI for your first investment property?

3. If I won’t have a positive cash flow each month, is it a smart investment?

4. Which markets are the best to buy in currently?

Thank you for the help!

Hi there. I am looking to buy my first investment property in Sunriver or Three Rivers, OR. From talking to my realtor and some property managers it’s sounds like the demand for Long term and short term rentals is high. Anyone have experience with investing or renting in these cities? Have you had more success doing short term or long term rentals? 

Any advice is welcome! Thanks!