All Forum Posts by: Jeff Wallenius

@Mandela Muhammad I can guarantee you that @James Wise is giving you solid advice, and I have nothing to gain from that remark. Buying any property in the midwest for $15K is going to put you in an undesirable asset class which are not appropriate investments for out of state investors. Those will be long term nightmares.

@Theodora Lenihan did you ever identify a strategy for your exchange?

@Justin Madison have you done flips in the past or have any experience in this game? If you don't or have limited experience I would not jump into such a large and expensive project. There's a fair amount that can go wrong on these types of deals and those are big dollar figures to have to pay. Where do you plan to borrow $3.6 million dollars? Have you factored all your holding costs for 18 months? 

I'm in the process of renovating to sell a duplex and fourplex in Oregon. Properties are located in a town 30 miles south of Portland called Canby. Duplex will be sold at a 7% Cap and fourplex to be sold at a 7.5% Cap rate. The Canby market is hot, with relatively no rentals in the city and room for all rents to be raised to further value. Take advantage of West Coast appreciation and invest today! Please contact me for further details. 

Duplex to be listed at $300K and Fourplex at $550K.

Canby Market Trends

@Alan Kahanu Let me know if you need a reference for Indianapolis. We invest with a very high quality operator in that market and have been very happy.

I've got a couple multifamily opportunities that I'm selling in a town 30 miles south of Portland Oregon. The outlying areas are your best bet for better returns and elevated Cap Rates. Happy to share details if interested.

@Sunshine Bizz I would buy properties in the $70-100K range that cash flow $200-400/month after everything is said and done. Buying a property that does not cash flow is not a sound investment especially if your looking for turnkey. There are several pitfalls to investing out of state or buying turnkey so there is a fair amount of due diligence that needs to be done. Please let me know if I can assist, I would be happy to discuss some of the pitfalls and how to get a solid start.

@JP Crowe your experiencing what we've all been up against here locally. My bread and butter was the outlying areas such as Oregon City, Canby, Mulino, Dallas (OR), Salem, Forest Grove, Yamhill, etc and I did well in those areas. I mostly invest out of state now as the returns are much better and I can do more projects. I'm wrapping up 4 deals locally and then I'm done flipping in this market unless a homerun comes across my desk. If you need an investment minded agent I can give you a reference. 

Best of luck!

@Meti Kay typical seasoning periods, especially for new investors are 6 months. You may get lucky and find a lender that will shorten the timeline but plan on 6 months. 

As far as your other question I would say it depends on your strategy. You could do a couple flips remotely (We do these in Indianapolis and OKC) and build your capital. That is an all cash play but helps to build your capital. If your looking for strict buy and hold I would target the BRRRR strategy to maximize your $100K. Happy to provide more detail if needed.