Bend, Oregon Investment Thesis

[Brian Bellew]

I own three single family rentals in Bend, Oregon that all cash flow pretty well and have good equity positions.  Bought in 2010, 2012 and 2013.  I now live in Denver but have strong convictions about growth in Bend.  Any other investors with knowledge of Bend that can see this becoming a Boulder or Austin?

Some notes on the area:

-Consistently in the top 10 counties in the US for population migration (Deschutes).

-Oregon State Cascades is building a new 4 year university with anticipated 5,000 students.  The university currently owns 56 Acres of land on the West side of Bend and building started summer 2015.

-Growing technology scene, microbreweries going national (10 Barrel and Deschutes)

-Rental vacancy rate around 1%

-Limited availability of vacant land due to local governments inability to agree on a new Urban Growth Boundary.

-Mt Bachelor expanding by investing in new lifts, and summer mountain biking.

-Located between San Francisco and Seattle (Tech hubs of the West Coast).

[Jay Hinrichs]

Austin or Boulder  No way..  constrained by access to major metro areas and No interstate.

limited Jet service and still a very small community ..

Great little spot though for those that like the 4 seasons and high desert type things.

you did VERY good buying when you did.. as I am sure those properties long term will out perform most anything save the best CA or CO locations..

At the end of the Day Orygun is anti business on a political level.. the UGB restrains gowth tax s are some of the higheset in the country.. So I think it will be what it is.. summer over flow for N. CA or Snow birds... PDX people that want to get out of the drizzle.. and those that like the lifestyle there.

Remember when it crashed it CRASHED hard.. rural Oregon in many areas has 20 to 30% unemployment almost as Bad as Detroit.