All Forum Posts by: Mary Chapman

@Mary Chapman Welcome to BP, you've found a great resource for real estate investing. As @Paul Timmins mentioned, you should look at getting involved in the local real estate investor associations in the Portland area. The two that I would suggest are Northwest REIA and Rarebird Investors Network. They both have multiple monthly meetings and there are many seasoned investors in these groups that are willing to help the newer investors.

Let me know if you'd like to meet-up sometime for a coffee to discuss real estate.

Randy

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Hi Larry,

Thank you for your welcome! It is good to know that someone has actually bought properties out of state. We don't know exactly what that looks like for us yet, but we are strongly considering it, as this Portland market seems to be pretty saturated. Though, I don't know that for sure, as I am just getting started. What is it like, investing in real estate outside of your home state? Are there networking opportunities for out of state investors? Do you know if it is frowned upon in other states? I remember always hearing about "those Californians" who came up here to Oregon to take advantage of lower prices and better investing opportunities. It seemed to be frowned upon by the "locals".

Thank you for your time!

Mary

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Originally posted by @Larry Fried:

@Mary Chapman

Hi and welcome to BP! I am just down the road in Eugene. I have bought turnkey properties out of state for buy and hold, including Jacksonville, Fl. I got good deals there at the time, but I know that it is a lot more difficult now, the market has shifted/recovered so much.

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Wow! Paul,

Thank you SO much for this reply!! THIS is, yet another reply, that we have been hoping for! I will absolutely follow your advice, and keep everyone posted as we move along in this first stage of learning. I really appreciate it!

Mary

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Originally posted by @Paul Timmins:

@Mary Chapman

Welcome.

Check out the Start Here page http://www.biggerpockets.com/starthere

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

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Alan,

Absolutely none. But we are researching our little hearts out, and attempting to weed through all of the illegitimate websites and marketing to educate ourselves. I am really happy to have found Bigger Pockets to have a forum that allows us the opportunity to communicate and network with those that have the experience and expertise.

Mary

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Originally posted by @Alan Cohen:

Yes. I'm beginning to look in Texas as well. Have you had any training on house flipping?

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Hi Alan,

We have not attempted to look in the Portland area. We are actually, strongly considering looking for investment opportunities in the U.S. Considering Texas and possibly Florida. Have you looked into investing in other states? We are still researching this idea, and so far it SEEMS reasonable.

Thanks, Mary

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Originally posted by @Alan Cohen:

I'm in PDX as well. Been trying since October to find a fixer with enough spread between purchase price and ARV. It's been tough.

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Thank you SO much for this reply!! It is exactly what we were thinking (and hoping to hear) from someone who has both the experience and expertise! Many thanks!! Mary

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All Forum Posts by: Mary Chapman

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