All Forum Posts by: Matthew Champion

@Brad Hammond Thanks for the suggestions! I had considered multifamily, but haven't seen many on the market through my MLS searches. I've also read that you can expect higher quality tenants in a single family property, which appeals to me to some degree. I'll check out Newberg and McMinnville as a potential target. Going with a value add property certainly seems like the most promising route, but I know nothing about estimating the price of a rehab or an after repair value, so I have a lot to learn about that before I would feel ready to go that route. Perhaps once I have gotten my feet wet a bit...

@AJ Shepard, thanks for the suggestion, I'll look into WIN.

@Tyler Combs, Oregon City was the only market that any of my deal analysis showed any promise at all, so I'll take a closer look. Thanks for the suggestions! I'll take a look at Investor Lab. And I'd love to grab a coffee sometime when it's socially acceptable again, and when I have a better grasp on this stuff to make better use of your time.

Hey Portland real estate crew! I'm a real estate newbie who is considering getting into real estate investing as an additional stream of income. COVID made me realize that no job is 100% secure and I'd like to have more options in the future. Plus, if I end up successful enough at it, I could cut back on my hours at work. 

I don't really know much about real estate investing yet, but reading BP and listening to the podcast has gotten me excited about it. I think I would like to focus on long term rentals, probably single family, with a primary goal of cash flow over appreciation (though both would be nice). Some day I might consider rehabing as part of the process, but I think I need some experience with the basics first. As Brandon frequently suggests, I was trying to analyze a bunch of deals to get used to the process and getting to know my local market. The problem is, I really can't find any single family homes in the greater Portland area that seem to cash flow on paper, and I'm beginning to wonder if it's even possible in this market. When I analyze properties in other markets, such as Dallas, it seems pretty easy to find a deal that is highly likely to cash flow. I may eventually consider investing in a long distance market, but I think I'd like to get my feet wet locally so I get comfortable with the process in a place where I have more resources and access.

Does anyone have any suggestions on what markets in the general Portland area can potentially provide cash flow through single family rentals? I am totally willing to look outside Portland proper, and might actually prefer something outside the city because it seems the regulations are a little more lenient outside of Multnomah county. I currently live in Lake Oswego, so areas to the South are more appealing to me just because of proximity. I'd probably be willing to look as far South as Salem for a starting point if that's what it takes. I don't plan on buying anything in the immediate future, but I'd like to practice analyzing deals in a market that I might ultimately invest in so I can use that familiarity to my advantage when the time comes. I don't have any connections to wholesale or anything like that, so I'd be basing everything off of MLS.

Thanks!