Seeking Advice on Investing in the Columbia River Gorge Area

4 Replies

Hello everyone!

I'm looking to get started in real estate investment - preferably a single family home in the Columbia River Gorge. I have been looking at The Dalles but would consider other towns in Oregon or Washington as well. Does anyone here have any advice, including leads on team members (e.g., brokers, general contractors) in/familiar with the area?

Stephanie Howell

@Stephanie Howell

Hey Stephanie,

I’m mildly familiar with hood river and the dalles.

Like with any investing, it’ll start with your budget and there’s a lot of areas that will swing wildly in price.

You looking for a rental, fixer, home of your own?

Washington side...there’s Lyle, Goldendale, Bingen and a host of others. Try Mosier in Oregon.

JP

Hi JP, and thanks for the response!

I'm looking to buy a property that I can rent out either short-term or long-term. I would be interested in doing some repairs, but I'm not looking to tear down and build something new. 

Mosier is definitely an option, although it seems like there is much less inventory there compared to The Dalles. Hood River and White Salmon would be great but probably not in my budget at this point. 

Do you know anyone in the real estate investment world out there?

@Stephanie Howell I currently live in White Salmon, and have recently started investing in the Columbia River Gorge area.

It is a very tricky market, I will tell you that. Prices are very high, inventory is super low. I would think the Dalles is where you should be able to find better opportunities. In the past couple of years I have looked into a couple different duplexes in that market that should cash flow, just off the MLS. I personally prefer the Washington side though, as there is no state income tax, so effectively that's a 10% discount off the bat. 

I guess it all depends on your specific situation, and how much headaches you’re dealing to put up with. I could help you with a couple good investment-savvy brokers I know in the area. Let me know if that could help.

@Rafael Ortiz:

Thanks so much for the reply!

I would definitely agree with your statement about it being a tricky market. Although The Dalles seems like an easier target because of somewhat lower prices and more inventory, I haven't ruled out other areas of the Gorge, including the Washington side.

I would love some recommendations on investment-savvy brokers and any other advice you'd be willing to share.