All Forum Posts by: Josh Widener

I am looking for a recommended tax prep professional for 2016 tax prep around the Portland/Beaverton Oregon area. I bought a duplex this year and taxes are a little trickier. Thank you 

Seller agreed to the offer and 'weasel clause' shouldnt matter why lender was changed If there's is a signed agreement. The question was can the seller legally terminate. 

Hello

I just received a termination notice from a seller with whom I was in contract with on a duplex. We agreed to terms on repairs after the inspection and I received the termination a few days later with the reason being that I changed lenders. I know the real reason is that they decided they did not want to pay as much as agreed to but gave the excuse of the lender change. Is this a legit legal reason to back out? 

Thank you

Thanks everyone for all the help and input. I would love to go the duplex route, the only issue might be finding one between the time I sell and the time I need to vacate the house but I'll definitely be looking for one. I'm also reconsidering the townhouse unless I can find one with a very low HOA dues. I am more optimistic now and am excited to get started looking for an investment. Thanks again

I am looking for advice on buying a property in the hot Portland market. I am selling my home and will pocket 70-90K. After paying off all my debts I will have approximately 40-50k. I was at first thinking of renting until the market settles down but rent is looking to be around $1200-1400 minimum. I don't really want to buy a house either since there is hardly anything available and because this bubble has to pop some time soon and I don't want to lose on the purchase. I am now leaning toward purchasing a lesser expensive townhouse, something around that 1200$/ month range to live in for a year, save some money then hopefully the market turns and I can keep it as a rental and buy a second home. Not sure if I should buy or just rent, is this bubble going to pop soon???

Thanks for all the info. it has been extremely helpful!!

Thank you both for the input. I spoke with 2 lenders today and sounds like although I have 85-100K in equity, a refi will only get me 25-35k since they only refi 80% of the mortgage. And an equity loan will only give me a max of 30K. Is this pretty standard for all banks/credit unions? I guess I just assumed I could leverage all the equity. Thanks again

I am trying to gain knowledge on financing my first investment property. I currently owe 214K on a home valued at 315K. I was considering selling and using the money made to purchase a multi family property. However, now I'm considering staying in my current home and either refinancing or taking out a home equity loan to purchase a second property for a rental. What is the best route to take? I've only been a homeowner for 2.5 years but want to take advantage of the crazy Portland, OR market to cash in on my home. Any help is appreciated. Thank you