Brrrrrrrrrr strategy in CRE Vancouver, WA
Each week I go to Investor meet ups and I am shocked.! People are sooo desperate to make deals work in Portland are flooding into Vancouver trying to make the numbers work here. Don't get me wrong, I see why. Prices are through the roof in Portland. Vancouver on the other hand is just now building on the waterfront and is throwing in 1.5 Billion dollars to do so. As a commercial broker though, I wonder.............. What are people doing still hanging out in residential?
2 thoughts........
BRRRRR of Commercial Real Estate-
How would you do this? You could get a small business loan which would get you a loan of 90% loan to value. It would require that you owner occupy 51% of the building but the other 49% lease it out and pay the payments with the proceeds.
Option 2- Two of my flips- I bought old homes that were zoned commercial- got residential loans on them, I MOVED in, fixed them into offices and one to a vacation rental and later flipped. We can't keep small office space on the market.
There are soo many older properties and possibilities just ten minutes from Portland, why AREN'T more people trying to go commercial rather than just beating their heads against a rock on equity plays in Portland. Love to hear your thoughts