All Forum Posts by: John Williamson

Welcome to BP, Katelyn! I am also new to the game, only having just starting getting interested in real Estate about 3 months ago. My wife and I live in Tigard, actually just got an offer accepted on a house in LO, and we'll be renting out our current residence.

I'm hoping to secure a contract on a flip property by 12/1(cuz I want to quit job and make RE a full time gig)

Hi Randall, I'm right in the same boat with you. We actually reside in Tigard (nearly on the Beaverton city-limits) and my wife and I have been gobbling up all R.E. related material for about 2 1/2 months now (as well as listening to all BP podcasts on my commutes...addicting is correct!) Our strategy is to Buy, Fix & Flip for the first couple of years to provide capital 'seed' for investing in properties with a BRRRR strategy. I think there are still deals out here in the Portland metroplex (I'll be more confident once I actually land a deal!)

It sounds like you are going along all the correct paths, though, in establishing a good team of people to work with. That has been where most of my time has been spent (along with analyzing deals). Its amazing to find all the connections that are often-times right under your nose! 

I hope to be afforded to opportunity to meet and network; always nice to know fellow investors in the area and share in our successes/learnings!

Cheers,

Hi there, are there any properties in the Portland, OR metroplex area?

This has been an enlightening conversation to read. I am a very new investor (in fact, I can't even use the term investor since I haven't gotten a deal yet!) I have made several offers on the MLS through a couple realtors but the sellers haven't taken my Max Allowable Offer. I have a decent W-2 job in a director-level role, but my wife and I have decided that REI is the way to go for the long-term future of our family, beginning with flipping a house for an initial surge of cash to make a downpayment for a BRRRR property. I am planning on parting ways with my current job on 12/1, hoping to have my first deal in progress at the time. However, my plan of doing a BRRRR in the early part of next year may not be possible since I won't have a current W-2 job to get the 'refinance' and cash out on the rental property.

I'm fine with doing flips for two years to generate the taxable income and give access to longer term financing options and have a private lender that I can work with for the short-term loans on the fix and flip properties initially. I'm glad I came across this article so that I could adjust my intial REI strategy! Thanks!