Bend, Oregon Investment Thesis
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).