I am an RN by profession and is looking into moving to Portland OR this year (probably by September) to begin my real estate journey with my wife and my son. Any feedback on how the market is performing out there? Thank you!
@Marvin Montanes - It was a few years ago, but prices have increased dramatically as CAP rates have come down. PDX has become quite the hot market. We have owned a MF in Beaverton for 15 years and rents have increased very substantially in the past several years. The City of Portland has instituted relatively tough rent control laws and the state legislature is considering similar measures for the entire state. We love our property and plan to hold it indefinitely. But I wouldn't be a buyer in Portland. These measures may exclude small properties so you may want to explore further.
@Ed Matson Thanks a lot! Very helpful information.
Hey Marvin, the good news is that people (like yourself) are moving here in droves, so there's a consistent demand for real estate. This applies to both renters and owners. On the downside, it's very competitive. Investors are gobbling up deals with razor-thin returns, even with the market showing serious indications of slowing. Proceed, but do so with caution and experienced advisors.
@George McCleary thank you for your advise!