All Forum Posts by: Jeff Wallenius

Great idea!  Hopefully these TK companies start competing to rise up "the charts" creating a better product for end buyers. Looking forward to seeing the final product!

Cheers!

Welcome Shawn! Keep up the momentum, it will all pay off down the road!

Cheers!

Welcome Steve! I'm on the other side of the mountain in the Portland area but I have family in Prineville and get over to Central Oregon as much as possible.  Best of luck in Bend!

Cheers!

Thanks @Dennis Tierney and @Account Closed for all your input!

@Sean Hurwitz 

You can always find HOA information prior to purchasing the house, just ask the realtor. As far as seller paid closing costs, I use 1% of sales price as my guide, this allows me to credit the buyers if they ask for closing costs to be paid. It's basically a built in cushion of 1% for misc costs at title. My advice is to build a spreadsheet that includes everything you can encounter, so you won't forget anything when evaluating a deal. Plug all your numbers in and see if you have a deal or not.

Cheers!

I just paid $550 to the local HOA for the annual assessment on one of my properties. So HOA fees should be considered if applicable. I would assume your getting clear title so you won't have to worry about any liens on the property. In one specific suburb of Portland all older homes must be connected to city sewer if sold and not connected already, so hidden costs can sneak up on you. I always account for roughly 1% in seller paid closing costs as well, most buyers like to ask for those items. Those funds will come out of closing, so no money out of your pocket up front, but a consideration. Best of luck! Cheers!

@Jason Mak good advice, I sent off an email this morning to an agent asking this exact thing.  Thanks for the post, I'll be contacting title companies that I've worked with in the past to see what I can find. 

Cheers!

I agree with refinancing your rental to leverage funds. I don't know how much cash you put into your rental when you bought, but pulling your funds out could possibly increase your ROI percentage. Great move to increase your return while picking up an additional asset! Cheers!

The size of the house seems reasonable, but I don't know the neighborhood. Pull 3 sold comps, preferably sold within the last 3-4 months, that are as close to your target home as possible to get an idea on value. Once you find a value your comfortable with, subtract $5k and see if it still pencils. If this is your first flip you'll want to play as conservative as possible. Best of luck! Cheers!

@Michele Fischer the Longview and Kelso areas scare me but it sounds like your having success?