Real estate investment

Thinking of becoming a Real Estate Investor?
Here are 10 questions to ask yourself

1. All real estate investors have making money as their goal. What is your strategy to reach this goal? (for example, buy properties and hold them for appreciation and cash flow; buy, add value and sell quickly; buy small properties-like duplexes-and gradually trade up to buildings with larger number of units.)

2. Have you owned investment properties in the past? Do you own any now? In Oregon?

3. Are you familiar with Oregon’s landlord/tenant laws? (See below for landlord associations that can help educate you.)

4. What skills, experience or expertise do you have to help achieve your investment goals? i.e., remodeling skills, tenant management or legal experience, financial or tax expertise

5. In which areas of the investment picture do you plan to use the help of professionals?

Accounting/Financial

Legal

Maintenance

Property management

Rehab of properties

6. Do you know people who have been successful real estate investors over the years to whom you can go for help and answers to questions, or are you on your own?

7. Do you know how to analyze potential investment properties in a financial sense and in a physical sense?

8. Do you have financing in place? Have you met with a lender or loan representative who finances non-owner occupied properties? Are you pre-approved for a loan at this time? Would you like me to suggest the names of a few experienced, honest loan officers for you to interview?

9. Have you picked the area where you want to invest that makes sense from the tenant point of view?

Availability and quality of rental properties;

Proximity to public transportation, shopping and jobs;

Rental rates for the area?

Also, have you looked at the area from the landlord side? Is it close to your regularly traveled routs so you can keep an eye on your investment? Is it an area where you feel safe and comfortable owning property? (If you feel safe there, chances are your tenant will too.)

10. Would you like to be able to check your email each day and see the newest homes for sale that could be your next rental property? Use the map to the right to set up your search. Then click on the Alerts button to receive daily or weekly emails of the newest search results. There is no obligation and your information is completely private.

RESOURCES:

It is very important that you familiarize yourself with the Oregon landlord/tenant laws. Check out one or all of the following:

Rental Housing Assn of Greater PDX

10520 NE Wiedler

Portland OR 97230

503-254-4723

http://rhagp.org/

Multi Family Housing Council

392 Monroe Ct. NE,

Salem OR 97301

503-779-2900

http://mfhc.com