All Forum Posts by: Melissa Dorman

Brian Garrett I never thought of it like that, but yes! It's a slow BRRR!

Brian Garrett I'm actually talking buy and hold. Faced with the decision to buy a bunch of less than $100,000 properties in Ohio (for example) that may cash flow $300-800 per month versus a $300,000 property in an appreciating market like Portland, that only cash flows $100-200 per month, I chase the Portland property because in 30 years the value will likely exceed the cumulative cash flow over the year .

Some of the best investing advice I got was that too often new investors chase cash flow but true wealth comes in appreciation and equity. Since then I see cash flow as an indicator of a good deal and insurance in tough times but I'm focused on building wealth by investing in an appreciating market and specific neighborhoods that still have a ways to go.

Look into whether it can be a lot line readjustment versus a full subdivision. If so you can save a lot of money and time ;) a visit to the planning office will help.

Max Brunke and Charles Street I got about twenty calls from 500 mailers and of those 5 sellers really trying to sell at market price that I passed off to my realtor friend for a referral fee if they execute on it and this deal and one I'm still negotiating with another seller to do a lot reassignment as a joint venture deal with a fellow investor who would build on the lot and give me equity in the duplex or a wholesalers fee for finding it. I got my list for free from a title company search with a simple criteria of 2-4 units in 3 specific zip codes. $300 in mailers well spent, I would say.

I was gonna say Dani Z. After listening to that podcast I hired someone to write addresses on direct mail and to GC my rehab. I would rather work on the business than in it. I'm so impressed by how much you grew your business already and by handing over that job you have even more room to expand :)

Check out RareBirds if you want to meet other likeminded investors. Just moved here from LA myself and have already made tons of relationships with other investors at their monthly meetings. Cheers to new beginnings!

Just bought my first duplex that I found off market using $300 of direct mail. It's located in an up and coming part of Portland Oregon called Foster Powell. The owner was an out of state landlord so I was able to negotiate the price to $320,000. Icing on the cake was it appraised for $370,000! The seller even agreed to pay $4,200 to help move the tenant out so I could move in for my FHA loan requirements. Market rents will be $1,200-$1,300 each unit starting in 2018. Already sending out my next $800 of direct mail!

That's fantastic. Find out what he wants. Then cater it to meet his wants while also negotiating yours. Perhaps he needs a certain amount per month $1,000. Then do the math and build in a cheap interest rate over your desired time. Attempt to do interest only until you can sell or refi. This is a great deal!

I'm new as well and just moved to Portland. I decided to go the small multi family route in order to qualify for more debt using the rental income as part of my debt to income ratio and using an FHA loan so I only had to put 3.5% down. With the small multi family I can have a place to live, put very little down, and learn the ropes of managing all at the same time. Also, I had the incredible help of my investor agent Ben Ficker who helped me learn the market and understand the details of what makes a good or bad investment. DM me if you want his contact. With his help I found an off market duplex using direct mail that I am closing on for $320,000 but it just appraised at $370,000. I'm looking to refinance into a conventional loan by the end of the year and move out. This market is more about building wealth in equity than in cash flow, but cash flow is a great indicator of a good deal and insurance in case the market turns or you loose your job.