All Forum Posts by: Todd Powell

@Mary Jay if he gave you notice that he was vacating and picked the day, it sounds like he was intending to disappear without paying rent. When I do not hear back from my experience these are blatant flags that he is intentionally being flaky. With your proper notice (check your rental paperwork), I would enter. Also check with neighbors or other tenants if they have seen him vacating and moving. I have been here before and very frustrating! 

@Michael B. what area of Cali are you buying your properties? Thanks 

I have acquired several units in the last 3 years, and many were off market good deals after I rehabbed and increased rents. What are your opinions about the real estate market? In Oregon and surrounding areas have been steadily going up for the last several years. It’s been 10 years now since the 2008 recession and wondering how long home prices and rents will continue to rise ? I know no one has a crystal ball but they say RE runs in 7 year cycles, and if this happens will rents drop ? Or, do rents stay steady out there?

Thanks for your input.

@Charles Kao Wow, that's amazing! My son and had to pay $650,000 for a 8 plex, and it was a fix needing $75,000 to rehab units to get our rents to $8500! I would love to be in your market. And, BTW, this property appraised for $800,000 the way it sat with only $5000 in gross rents and units in bad condition. So, well done! our 8 plex is in Forest Grove which is a superb of Portland, Or.

@Peter B. that is awesome! Off market larger apartment was my goal and it sounds like it worked for you. Off market and flexible seller gives you the time to sell your smaller units. This is my goal for my son and I @Jason Powell!  In this NW market in desireable Oregon locations it seems to be challenging. But then again, every deal I have done, the properties were always worth more. I like your idea, and I need to write more letters. Cheers

@Chris Mason thanks for your thoughtful advice!

@John Warren thanks so much for your thoughtful response! My son is always telling to deleverage and pay down interest rising HELOC debt. My goal is to flip and also use cash to pay this down as to not affect my cash flow. Also with rising interest rates, I have not wanted to refi any of my properties. I have a few owner carries at below market rates so that seems tough right now. I think the answer is to not acquire anymore buy and hold properties and attack this HELOC monster. Again, thanks for your input! Greatly apprecaited!

I am new here today everyone. I have flipped 25 or more units until I saved and now have many off market buy and hold rentals, four 4 plexes, and 50/50 ownership with my son @Jason Powell on a 5 plex and 8 plex. I also have ownership in a 72 unit building near Oregon State University.

I have read many books that say leverage and borrow as much as you can for real estate. Namely, as much as you can borrow will equate to more net worth in real estate. But contrary, paying down debt is safer some say. To be transparent, most of my deals were below market off market deals, and in major distressed condition and below market rents. The issue at hand is that I owed $500,000 in interest only HELOC LOANS as I leveraged my paid off house, and borrowed my house funds as down payments and massive rehab costs. I now have the HELOC down to a $421,000 balance on a 15 year draw period and a .25% point under prime rate.

I currently have roughly $12,000 cash flow on my units, so should I buy another "deal" or just pay down this HELOC? I guess I don't care as much about my first mortgages, but I am concerned about the RE market and rising interest rates.

I would love your input and expertise here as I am 51 years old and trying to make retirement decisions. Thanks for reading and any advice you can extend ! 

I am new here today everyone. I have flipped 25 or more units until I saved and now have many off market buy and hold rentals, four 4 plexes, and 50/50 ownership with my son @Jason Powell on a 5 plex and 8 plex. I also have ownership in a 72 unit building near Oregon State University. 

I have read many books that say leverage and borrow as much as you can for real estate. Namely, as much as you can borrow will equate to more net worth in real estate. But contrary, paying down debt is safer some say. To be transparent, most of my deals were below market off market deals, and in major distressed condition and below market rents. The issue at hand is that I owed $500,000 in interest only HELOC LOANS as I leveraged my paid off house, and borrowed my house funds as down payments and massive rehab costs. I now have the HELOC down to a $421,000 balance on a 15 year draw period and a .25% point under prime rate.

I currently have roughly $12,000 cash flow on my units, so should I buy another "deal" or just pay down this HELOC? I guess I don't care as much about my first mortgages, but I am concerned about the RE market and rising interest rates.

I would love your input and expertise here as I am 51 years old and trying to make retirement decisions. Thanks for reading and any advice you can extend ! 

@Dave Foster thank is so thoughtful and helpful. This gives me some amazing info to mull over. Thanks for your time and insight.