All Forum Posts by: Juan Reyes Jr

Mother-in-law decided to let us be part owns of her SFH in SE Portland, OR. We currently doing a "live-in-flip". This is our first real estate investment. Depending on where the market is in 2-3 year, We will decide to sell or rent. I'm thinking we'll have to rent. Which is fine because if we rent we'll cash flow pretty nicely. Especially since it's Portland, where cash flow is very hard to find. If we sell we could make $200k profit but it's hard to analysis actual profit since "carrying cost" is going to be over 3 years and we'll be living there.

I have full time mechanical engineering career that lets us save some money every month. I also still have student loans, which should be paid off by the time we’re doing with the remodel. So after the remodel we’ll have a good amount of equity in the house and we won’t have student loan payments anymore, freeing up a lot of money for us. Also in 2-3 year the market may be turning and hopefully we can pick up our second real estate investment at a discount. 

This is how I’m starting my real estate investing. 

Hello Everyone,

I got anold house in inner SE Portland, OR that's needs repainting. For sure has lead paint and the property boundaries are very close. 

If you have any references for a good painter that services Portland, OR please send me a DM to let me know. 

I appreciate it. Thank you!

@Joseph Berkey Thank you for the advise and recommendation. I appreciate it

Hello Everyone,

I'm looking for a very small residential architect firm (1-2 architects) for a home remodel in inner SE Portland, OR.

I need schematic design, drawings with stamps for permits, construction specifications, and 3-D models of floor plan/house design. I already have an idea for the floor plan.

Looking for small firms for personal attention and relatively low cost.

Recommendations?

@Say Teoh I would love to see the list of all your vendors. Would you PM me or post them here, which ever is easiest. I appreciate it. Thank you.

Count me in, Rob! See you guys there.

Hello BP,

I'm an inexperienced investor looking to partner up with someone who has been in the business for awhile and looking to bring someone on board. I have money saved up and good credit. I have a mechanical engineering degree and currently have a well paying job. Besides engineering, at my job I work with market analysis, cost track, where to cut costs, and other light financial work.

If you're interested or know some one who might be, please PM me.

Thank you! And look forward to hearing from you.

I'm definitely interested. Count me in.

@Richard Balsam and @Adrien Schebott thank you guys so much for the response. I appreciate you taking the time to help me understand. 

Obviously I have a lot to learn before I jump into REI. That's why I'm here at BP

Thanks again

Hello Everyone,

I'm thinking about purchasing a foreclosure in Oregon at an auction. This would be my first fix and flip. I don't have all the funds in my bank account so I'm thinking of using a Hard Money lender.

My questions are:

What would be the process of getting a loan on an auction house?

If you do get the funding from the hard money lender, what happens if you're not the winning bidder on the property?

Thanks in advance,

Juan Reyes Jr.