All Forum Posts by: Eric Blanchard

Welcome to BP.  Watch for posts by Mike Nuss and Jay Heinrichs - both are very knowledgeable in this market and will help you get a good perspective on it. Good luck with investing, feel free to pm me if you have any questions. Or need to find out where the best Pdx coffee houses are :)

I don't have a whole lot of knowledge in this area, but I'll share something interesting I learned. I sat down with my CPA and ran a bunch of numbers to find out if I wanted my LLC to be taxed as if it were an S-Corp. One thing I learned is that an S-Corp can be good for reducing taxes when you make money, but it's actually not as helpful if you have a loss.

I'll be there.

Thanks for posting your experience!  I'd love to see updates on this thread over the next year or so - it's helpful to see how well these companies maintain their level of service over time. Good luck with your investing.

Not too much clue about Salem, I bought a $142I house in Oregon City through WFG Title and I payed something like 1800 or 1900. Seller didn't pay anything.

I had something similar on a house in Portland, OR - waited 1.5 weeks to get out of the 90 day window and the second appraisal came back fine.

Hey Skylar, my favorite contractor so far is Doug Whitman. He is based out of Newberg but does stuff all over Portland.

Hey Allison, welcome to BP. I believe Century 21 has been recommended here on BP by Jay Hinrichs as having a really good training program. Ask Jay, he'd know.

Welcome to BP Tyler. You might check with BP member Brad France regarding wholesalers - he knows who some of the good ones are, and can also warn you of a couple to watch out for.

Hey Eric, thought I'd toss in my two cents. Portland is a hard market to find a 1% rule property in. However, a lot of these "rules" are for Midwest/notPDX markets. The important thing here is really to watch the cash flow. If you buy elsewhere in the country you can find 1% and 2% rule properties... But I hear from people like Jay Hinrichs that they tend to be dogs that will just sit there and appreciate very little if any over the years. Not to mention the renter and vacancy issues.

But back to where you are looking - looks like mtg and taxes come to 1750/mo, leaving 440/mo to cover all the other expenses (insurance, prop maintenance, capex, etc.)  I kind of wonder if that leaves enough margin.