All Forum Posts by: Kelly Asmus

Jonah before you do anything consult with a 1031 exchanger so you understand what you can exchange for - there are LOTS of rules. You can't just buy anything and typically you exchange like for like. Plus there are set in stone timeline rules you must work within. So before you start anything in motion sit down and really understand the path you're going down and how to work within it's confines. It's a great vehicle for us investors, but you must do it correctly. 

I have a great exchanger in Portland if you need a referral. DM me. 

@Geoffrey Robinson. Have him call fellow BP member @Grant Schroeder. He can help him get qualified to buy the property. Grant is a lender and an investor. 

@Steve S. Banks have pulled way back on lending money at the moment. With the SVB failure and other economic issues banks and other lenders have rolled the carpet up and tightened their guidelines. Try Stuart Sandor with Preferred Lending. 503.603.3333. I have used him for construction loans. If he can't help you he is very connected and ask him for a referral to someone else. 

As a house hack, you need to owner occupy so it really comes down to where do YOU want to live that is affordable and makes sense for a first investment. Sounds like you need to spend some time in the car traveling to some of these destinations and making a choice. There are projects all over the country that people make work. Find the place you want to live, then deep dive into the local market and find a project that matches your goals.

Do a few minutes of searching and you'll find tons of platforms out there. VRBO, AirBnB, etc. You may even opt to go the MTR route with FurnishedFinders.com. Lots of good options out there.

Unless it's a deep, deep fixer and the seller and seller's agent want assurances the buyer can close and get the project done - if not that, then no one cares. Best price/terms wins the day. I've had some projects where we were selling an extra lot and the seller lived next door - then they vetted the buyer to make sure they could perform. So a few situations where it might matter, but 99% of the time, it doesn't matter. The strength of your offer and your financial ability to close the deal is what matters.

It is illegal for agents to receive kickbacks from Lenders. We refer experienced professionals who can execute, expedite and help our clients have a wonderful experience. Doctors refer other doctors. Realtors refer contractors, lenders, inspectors, etc. It's how business gets done. 

As a listing agent I would absolutely warn my sellers if a buyer had a lender who performed poorly in our market. That's my responsibility. Buyers with poor performing lenders will have difficulty getting their offers accepted. Reputation matters, especially when you're in competition with others to make your offer shine. 

I agree - cash flow. Eugene is an inventory short market and they don't allow a lot of new construction, so if you hold it long enough it will appreciate. House hack it and rent it out by the room and you should be able to make it cash flow AND lower your monthly rent payments too. Good luck. Love to see the hustle.

First Tech Credit Union has a good HELOC for investment properties. It's here in Oregon.

There are exemptions. Here are the full rules here:

Mandatory Renter Relocation Assistance | Portland.gov