All Forum Posts by: Lawrence Potts

I did some work in Corvallis and thought about investing in that area as well...just seems like Eugene would have a more robust market. But I may just need to do some more research into the potential opportunities that Corvallis may provide!

I am also new to real estate investing and looking to buy a second home in the Newberg area and or possibly Salem. Most of these posts are in 2018 is obviously more expensive now.

I agree with building upon a successful strategy, rather than stepping too far out of your comfort zone early on. With interest rates and inventory where they are on-market, you're likely to have too much competition to win a good deal off of the MLS. Either finding off-market properties, taking on a rehab project, or looking at STR/MTR are going to be needed to get a foothold in this market. @Lawrence Potts knows the area well and can speak to the availability of properties and what kind of strategy might best fit your skillset and goals.

Hi BP Community,

Introducing myself as a "new" member, though more like newly active member to the community. Looking for cash flowing single family homes in the Portland, Beaverton, Newberg, Salem areas of Oregon. Currently have two long term rentals and looking to slowly and deliberately scale in a disciplined way.

Thanks!

 @Lawrence Potts splits time between Salem and Ashland/Medford area, so he'd have some insight!

Wholesalers can be a good source for off-market deals, but the challenge is that a quick close (10-20 days) is often necessary to buy from them, so traditional financing is often not an option. That means that you're likely going to either need to pay cash or use a hard money lender to buy the property. If going the hard money route, you need to have a relationship with one, be pre-approved and ready to go fast when a deal comes available. All adds up to a lot for a first-time investor, so proceed with eyes open.

You're also right that small multi-family properties are hard to find because they are attractive to investors. House hacking is a great way to start if your family situation will allow it, paying 3.5-5% down instead of 25% can be a huge advantage. Keeping your current place as a rental is also a great move, though lending guidelines have changed recently to make it a little harder to count that rental income when qualifying for the new place. Traditional lending will be easier to get, but you'll still want to be pre-approved, connected with a good agent, and ready to pounce on a good deal, as they move quick!

If you can connect with @Lawrence Potts or @Dan Gandee, they're both great resources for investing in the valley. I can help on the lending side if you have questions there!

After years of being on the sideline, finally taking the plunge into real estate investing. Prices here in Oregon just don’t seem to support real estate investing in my area of Albany, Lebanon, Corvallis. I have hesitation with out-of-state investing, and I would like  be hands on with my rentals as well as not use a property manager. I know Oregon has its issues with being a very tenant friendly state, but people are making it work. How are people investing here and making cash flow? I get you can make anything cash flow if you start with a big enough down payment. Would appreciate any and all suggestions and guidance!

Thanks

Hi,

I currently have 2 SFH properties here in Medford Oregon that I am self managing.
I am moving out of state this summer and looking to find a trusted management company to help manage my properties for me. 
any good recommendations?

Hello, bigger pockets community. I bought my first house hack in Salem, Oregon in 2021. I have struggled to buy another property with high prices, high interest rates and my debt to income. My goal was to buy a small multi family once a year, but has been challenging as a solo investor. My goal is to own a minimum of 10 properties. I haven't really looked at out of state investing because of the down payment. Locally house hacking solves the low down payment problem while living in the house for one year, moving out renting out the property and buying another.  Creative finance sounds amazing if I could find seller's willing to work with me. Any help would be appreciated.