All Forum Posts by: Melissa Dorman

Welcome to the world of real estate investing. One place I have found a lot of help from is RareBird investor group. They meet every 2nd Thursday of the month. Google them. Best value for an REI group I have ever joined. And the network is unbelievably helpful. Best of luck!

Keep in mind that the more units you add, the debt service (principle, interest, insurance, taxes) still need to be covered by 75% of the rental income for FHA to approve. Finding a fourplex in Portland under $450,000 is not easy. I suggest sending out letters to all the 2-4 unit properties in the neighborhoods where you could afford and negotiating directly.

I will be there :) 

Hey Justin S. Great idea! Since I moved to Portland last year I have been incredibly fortunate to meet solid people like Bob Bochsler at his events and also at Rarebird investor group. Talk about likeminded folks! They have challenged and encouraged me to dream big and take action. Hope to see you around there.

@Brandon Williams @Bob B.

hope you can come too ;)

Hey I found my first off market duplex and purchased it but I need to build more capital for the next deals. I want to organize and focus my efforts so I can quit my job this year through wholesaling. I'm looking at wholesaling Inc ($5,000 program). Besides people on their website, anyone have experience with them?

I just signed up for on Point to hold my business accounts. I found out they let you get 10 mortgages!! They do not sell them off either. Huge perk. I did my mortgage with mortgage trust and they were fantastic as well. Better interest rate and LTV ratios for refi options. Just depends what you value more: number of loans or terms.

Great insight Dani Z. . And we'll put. I hope the politicians implementing these programs consult with homeless programs to help prevent these sorts of liabilities. Perhaps they could implement a screening process and grace period when the tenant and owner is not match and prorate the costs of backing out and build in plenty of other safeguards. In this tenant leaning market though, I'm not hopeful they have thought this through.

@Jay Hinrichs According to Oregon Live, yes. 

"The homeowners would pay nothing for the construction. They would become landlords and maintain the units for homeless families for five years.

Then the tiny houses would become theirs to do with what they want. If the homeowners break the contract before then, they pay the cost of construction.

The project would put the 8-month-old joint homeless office - a shared effort between the county and Portland -- in the housing business while offering an innovative, if so far small-scale, way to chip away at Portland's affordable housing shortage". - Oregon Live article

I heard that multnomah is starting a program for home owners to get a free ADU to keep if they allow a homeless family to move in for the first five years with wrap around services. As a social worker who worked with homeless for several years, this could be a win win if families get the support needed and addiction is not a factor. We need more incentives like this. https://www.google.com/amp/amp.oregonlive.com/v1/articles/20339320/multnomah_county_wants_to_ince.amp