Blog Stories Helping My Bestie Into a 4 Plex!

Helping My Bestie Into a 4 Plex!

By Melissa Dorman, August 11, 2020

I first met Josh 2 years ago on the 4th of July. There were fireworks in the sky, but we were too busy getting acquainted over cocktails at a bar on Mississippi Ave. It wasn’t long after that, Josh and I became best buddies. From the get-go, I preached the gospel of real estate investing as a vehicle to build wealth. He knew I bought small multifamily properties in Portland myself, but he couldn’t see himself ever doing that.

Josh was sceptical at first but told me he did want to own his own home one day. I was delighted when he asked me to be his realtor at the beginning of 2020. I knew we would have fun!
As the spring market heated up, even though the global pandemic, it was clear Josh didn’t want to compete with other buyers for a huge monthly mortgage payment. As a single guy, he couldn’t imagine furnishing 3 or 4 bedrooms home, let alone floating the monthly mortgage.

Then one day, he sent me a 4 plex link and said he changed his mind. He was finally into the idea of becoming a real estate investor. I was elated!
I quickly sent him the best 4 plex on the market. With only 5% down, he was able to buy a 4 plex in a great SE neighbourhood, walking distance from Revolution Hall. We even negotiated the seller to pay for a new roof. I timed the closing date right and he was left with a $9k check from the seller to boot in security deposits and prorated rents. He is already saving up for the next one!
To many more, Josh! Congrats.

Melissa Dorman

Broker Licensed in OR & WA

Ten years ago, Melissa was living in a slum in Kolkata, India, helping over 200 women escape of sex-trafficking by providing alternative work at a social business. It was there she discovered her passion for financial education as a means of empowering people to move out of poverty. After graduating from UCLA with a Masters, Melissa spent 5 years working as a Social Worker; assisting clients facing homelessness, in jail, or at a psychiatric facility. As much as she loved the work, imagining saving for retirement on the meager salary of a social worker was becoming grim. That's when Melissa discovered "passive income." In no time, she fell in LOVE with real estate as a vehicle for wealth. Soon after, Melissa began locating off-market multi-family properties to purchase through creative financing strategies and win-win opportunities. Two years into investing, Melissa quit her day-job as a Social Worker to become a full time broker and investor. Initially she was drawn to people in difficult circumstances, so she developed extensive experience assisting families facing foreclosure, short sales, and probate. Melissa is well versed in helping her client's overcome complex real estate challenges. Currently Melissa is teamed up with Super Broker, Yascha Noonberg at Living Room Realty. Together they assist client's to achieve their real estate dreams, including how to strategically buy and sell a personal residence to maximize profits. Far from the slums of Kolkata, her greatest passion now is empowering other working professionals to develop passive forms of income through buying multi-family properties in Portland.
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  • T: 503-567-4697
  • melissa@livingroomre.com

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