All Forum Posts by: Jody Tims

Hi all,

I’m interested in learning more about becoming an appraiser and am wondering if anyone has recently gone through this process. Specifically, how did you connect with your supervisor and did you work with your supervisor while taking the classes or after they were complete?

Thanks in advance!

Hey BPers! 

I own a 5/2 on 1.25 acres in Oregon City, Or, near Portland. I have a view of Portland and a bit into Washington. The home is unique in that it is a 1965 ranch with lots of Midcentury charms. I have about 300k in equity and the market is at about 18% a year. I am preparing to buy another home in the burbs using a HELOC for the 5% down. I'd like to purchase property #3 in the next year or so to generate cash flow. After running the numbers, it looks like I will cash flow about $300 a month once I rent my current home. The house and property can require quite a bit of maintenance, which I do not have the time to do. I was wondering what people thought about this situation and whether it might be more beneficial to sell the home so I can do the full 20% on the new place and have a down for 1-2 more properties that would generate more cash flow. I realize I'd be trading money later for money now but I'm just getting going on my real estate journey and not sure of the next move.

Thanks so much!

@Bruce Woodruff Makes sense. Thanks!

@Doreen M ODonovan Great idea. California is wildly expensive and their rent is great. Thanks a lot.

@Charles Cooper Thanks for the suggestion!

Hi there,

My buddy and his wife have been renting a great place with a view of the ocean in Aptos, CA near Santa Cruz. They pay about $2,000 in rent and have been there 10 years. They recently tried to build on a plot of land they had about 1 mile from their current home but things fell through. Now they are sitting on about 300k in liquid cash. They are considering purchasing a multi family home or small apartment OR a home for themselves. Based on these rough numbers, what are people’s thoughts on ways forward?

Thanks for any input!

@Gabe Tao Interesting. I also started wondering about doing another refi but possibly making it a 15 year and then taking the cash out to lock in the cash at the fixed rate. Any thoughts on this?

@Gabe Tao Another thing is that I just closed on a refi, so I have the costs associated with that wrapped up in the existing loan. If I do a second refi, I’ll have those costs tacked on as well.

@Gabe Tao I really appreciate this. I’ll ask more questions about the variable rate and also about the cash out refi. That makes a lot of sense.

@Tristin Crum Thanks a lot for your insight. I quickly found the Oregon laws on this and will be watching the video in the morning.

I’m actually in Oregon City and not in Portland proper. The property manager I met with said they do background checks, pull credit, and look at work history when they review candidates. They also do yearly (could be quarterly but I forget at the moment), and otherwise have a fair amount of communication with tenants. Between 800-1,000 pictures of the home are taken as points of reference. She did not talk about the challenges of landlording in Oregon but definitely made It seem that they were proactive in selecting quality candidates.