All Forum Posts by: Michael Nosbaum

Hi Pragya,  I wasted almost a year with an online lender.  It's took forever and I'm frustrated by closing costs.  I have single family rentals and have not been able to find a lender that will do a portfolio loan.  Refi-ing each individual property will kill you with closing costs.  

The advice I received and will be trying next is to do HELOC's with a local credit union. The pluses for me are no/little closing costs and no immediate interest payments (I don't have my next purchases lined up). The cons are higher interest rates and lower LTV.

@Carlos Villalobos Two stand alone houses on one lot.

Welcome to the area. One house hacking option I’d recommend: Medford has a lot of properties in town that have two houses on them. It’s kind of a quirky zoning thing I’ve not seen elsewhere in the country. It seems the best way to still be in SFRs but get a decent cap rate. 

Cheers and good luck!

Can anyone recommend an attorney or firm that deals in real estate and estate planning in southern Oregon?  

We're in Medford, but I'd be willing to travel a bit to get it done right. We're looking to get our living trust in order and form some LLC's. Some RE related and some not. Thanks!

Howdy Tim, Welcome aboard!  I'm a local paddler as well.  Maybe I'll see ya out on the river.  I think I'm the only OC1 you'll see around here.  

I'm in a crunch to get a house ready for market right now so no boating for me for a bit.  Way to go making a multi family property work for you.  That's what I'm hoping to do myself.

Cheers!

Howdy Brent,

Funny, I moved here in 2013 after getting off AD too!  We're not from here though.  I was stationed around the PNW and evaluated the markets in Bellingham, Eugene, Bend and Medford/GP.  This place seemed to have the most potential and we love it here.

I've been concentrating on multi's throughout the valley.  It's gotten kind of hard to find single families that pencil out around here.  I have an accepted offer on one so I'm off the market for a bit.  I can point you towards a couple I've had a chance to look at if you're interested.

Welcome back.

 Hi @Ethan Kanning  What do you think about Butte?  It has a college, it's nearish to Yellowstone, etc.  Cap rates seem to be there.  

Some of my rivers are just a wee bit secret.  I've had some great days on the Blackfoot and Galitan though.  I try to avoid the yellowstone rivers/crowds.  That's another reason I like the Anaconda area.  It's kinda undiscovered, off the highway, but on a scenic alternative for anyone who wants to get off the highway.  (without naming creeks, there's some great fishing nearby!)

It definitely needs a good Property Manager.  I got that from all of the realtors I talked to.  They didn't hesitate to trash talk the only game in town.  I really don't want to start another business (I have 2 already)  I keep finding these great opportunities that are just too far away for me to be comfortable without a PM.  Found another great one outside of Chicago too.

Finding a good PM was the biggest challenge I've faced with long distance rentals.  I had a few nightmares before I found my current aces.

I don't know about business partnerships, but teaming up with finding contractors, agents, intel, etc would definitely be helpful.

I'm picking up a van in Chicago next month and driving it back that way.  I was thinking about poking around Butte a little.  Any other towns you think look promising?

Howdy,  I'm in Southern Oregon and I've been hemming and hawing about something similar in MT.  There's a couple little towns up there that seem poised to grow when they're discovered.  

I did a scouting/fishing trip this summer.  The biggest issue I found is that there are very few, and even fewer good, property managers in these smaller towns.  

I struggle with the idea of long distance management, but the cap rates are definitely there.  Along with the potential for people migrating there when Denver and CO are considered too expensive.

Howdy, sounds great. Date and time?