All Forum Posts by: Rusty Thompson

@Samantha Lotti 

There is a local REIA meeting on the first thursday of ever month in Salem if you don't feel the need to drive so far next month.

@Account Closed I think that is a good post. I think every person has a different perception of what quality is and leaving the creation of standards up to the individual is a recipe for disaster. Many have experienced the problem first hand. It is the main reason I am so hesitant to turn my properties over to a manager. 

@James Propeck I know what you mean about the commute. There was a short period of time when I commuted up into Portland. Alright except those days when a 45minute commute turns into a 2 hour commute because of a accident

Welcome to BP. I'm a investor in Salem. I see your from North Plains. Do you plan on moving to Salem or commute?.  If you plan on investing in Salem there are a couple of us on here that can probably answer area specific questions if you have any.

Congratulations. I had the same thing happen to me when I won a auction property and had a short sale offer accepted within two weeks of each other. Very stressful for sure. Just make sure you have a solid plan going into it and makes sure your not over extending yourself. I know I did & the opportunity costs of those deals may have slowed down my progress in the beginning. 

@Mike Nuss Thanks for the advice. Your not the only one who has recommended I sell it, & I've seriously considered it a couple times. But the problem is, If I sell it then I need to find something of equal or more value. In the current market I don't feel that is viable locally & I if I invested to far away I would need to get property management. It seems like the best option at this moment is to find a property manager. I met locally with another BP member yesterday and we discussed that very thing.

@Moses Kagan It is defiantly a second job & as you have said a low paying one. I realized just a little while ago that I could actually pick up a second job & pay someone to manage my portfolio & still come out ahead. My direction right now is finding a good PM. 

I appreciate your advice on what I should do moving forward. I think that is a great idea. Are you developing or are you buying under performing assets & bringing them back to market rates?

Really close to the 50% rule. Are you going FHA on it or conventional? Do you plan on living in one unit and renting out the others? If all the numbers check out I would probably buy it.

Are you making a appreciation play? Based on what you posted I don't think it will Cash Flow. If it was my deal I would probably either flip it or whole sale it.

What do you plan on doing with it?

@Matt C. 

We are currently spending ~ 6.50$sqft. for SIPs panels, worse case scenario. The problem with asking how much wall panels cost is that there are a couple kinds of wall panels. We were building wall panels for Japan a long time ago. The were essentially ikea style flat packed buildings. It was done with standard building methods. With the introduction of SIPs there isn't really much demand for it. There a few companies that specialize in them still.