All Forum Posts by: Alex Mora

@Paul Defngin , thanks for the input, much appreciated !

Hey BP family, I am in the process of filling out loan applications to get pre-approved for my first duplex investment that I will be living in, out here in Portland, OR.

I wanted to get a different perspective from other investors on what to consider when shopping around for home loans.

Ultimately I plan on buying the property with an FHA loan to help with not having to put to much down upfront, while also eventually moving out on year 2 and pulling out some of the equity on the property through a HELOC or a REFI down the line.

If anyone can give me some sort of guidance on what to look for, I would appreciate it very much or if you happen to be able to recommend a bank/credit union that would be helpful as well !

Congrats !
I’d love to hear how it’s all going, as I am in the process of securing my first multi-family property. 

@Will Fraser I see what you mean! This was my initial though process, I just wanted to see if my mind aligned with other minds when it came at looking at house hacks.  Thanks again for sharing !

@Brad Hammond my man ! Yes if you could send me it over I would very much appreciate it. I am getting into the habit of analyzing random properties to get the hang of it and really understand it all. So any help would be appreciated!

& @Ryan Howell I completely agree with you there. From what I’ve heard or been told from other investors is ultimately any money saved is earned money. 

@Will Fraser when you say what is your Cost of Living savings while living there, do you mean what the price difference is from what you are currently paying to live and what the difference will be when you move into the property ? 
For example, (if I am understanding what you are saying) if I currently pay a total of $2k to live in my current home, but once I get my next property, & now it’s costing me $1500 to live in it, my savings a year is $6k. That $6k “number” is what you look at ? 

Hey BP Family.

I am in going to be purchasing my first investment property by the end of the year and I plan on house hacking it. I am wanting to get some feedback/guidance  from other house hackers/investors on when it came to analyzing a property, how is it that you were analyzing those properties? Since you were planning on living in one of the units and renting out the other, rather than immediately renting out both, how did you come to the conclusion that the property made sense? I will add I am ultimately trying to achieve on lowering my cost of living, and I understand that I will not be cash flowing immediately as I am in Portland, OR and I plan on purchasing in the Portland Metro Area.

Any kind of guidance on how to go abuts to analyze correctly for that would be truly appreciated. 

Once again, thanks again !

Hey @Matt Koski Welcome to BP !

I am on the exact same boat as you. I am currently in the process of starting to look for properties that I could house hack in Portland. If you would like to connect I could share some ideas & assist you out with the information I’ve found myself.  Feel free to msg me anytime !

After analyzing my home here in Portland, Or I came to the conclusion that I wont be able to get a positive cash flow coming in monthly like I would have liked it too.

My goal here is to try and have a monthly cashflow come in and build up equity over time then sale. With Portland being expensive and rising, it is difficult to buy a home that makes sense on paper and have a positive cashflow come in.

Therefor I am considering in looking somewhere in Arizona to purchase my second investment property. I have my father in law who lives out in Tucson, and I have only visited Arizona that one time and I got to say I enjoyed the Scottsdale and Phoenix area very much. I did like Tucson and I did notice, for the most part, that it seems like a city that people go and retire to ?

If anyone could give me an inside on how investing in Arizona looks like I would very much appreciate it !