Tuesday, March 6, 2012
A Home in Newberg Oregon
We are driving 3 hours tomorrow to look at this home. It looks really nice online, and we are hoping that it will be good. Rentals and apartments in the Portland Oregon area are sky high, with only a 2% vacancy. Nicole and Bryan are living in a nice apartment, but the rent keeps going up, up, up.
The idea here is...purchasing a home with our credit. Then, they live in it and make the payments, etc. This will be less than the rent they are paying. Sometime in the future, they will get a loan and purchase from us. The theory is that we will help the kids now, when the need is greatest.
This home is fairly new, and we think that it will be a good investment property. It backs to a greenbelt with a small creek, on the city growth boundary. It would be a long time before the city might look into going outside the current boundary. That fact appeals, that there are no homes beyond.