This is my first post, I'm from Portland, Oregon. Home prices here are correcting, but the ROI still seems chancy, and laws here make evictions difficult even in bad situations. Is anyone else here experienced with Portland? On the plus side, I grew up here and know the neighborhoods like the back of my hand, and I think I have a good sense of the market.
This is my first post, I'm from Portland, Oregon. Home prices here are correcting, but the ROI still seems chancy, and laws here make evictions difficult even in bad situations. Is anyone else here experienced with Portland? On the plus side, I grew up here and know the neighborhoods like the back of my hand, and I think I have a good sense of the market.
Thank you all
Welcome Rene! Lots of opportunity for people with the right mindset in Portland and Oregon. All depends on your goals and skillset. Chat with Scott and keep posting here for help!
This is my first post, I'm from Portland, Oregon. Home prices here are correcting, but the ROI still seems chancy, and laws here make evictions difficult even in bad situations. Is anyone else here experienced with Portland? On the plus side, I grew up here and know the neighborhoods like the back of my hand, and I think I have a good sense of the market.
Thank you all
Welcome Rene! Lots of opportunity for people with the right mindset in Portland and Oregon. All depends on your goals and skillset. Chat with Scott and keep posting here for help!
I'm a rookie who currently owns one rental. I'm looking at the market right now and just puzzling how people are making profits. Meaning, the price to buy as opposed to what a single family home can rent for. So my rookie question is how people are investing in the Portland market. Thanks!
It is tougher to make money on day one without a sizeable down payment or buying a a distressed asset. Generally single family is also a tough product for cash flow, though there are some distressed properties that could be made to cash flow after an initial cash investment. House hacking is still great and there are still decent opportunities but it really depends on your situation, what will make the most sense.
I'll second @Scott Bowles on that, putting 20-25% down on an on-market SFR is likely to be cash-flow negative. The opportunities lie more in small multifamily, value-add (reno or reposition), house-hacking or some combination of the three. The West Coast in general is an appreciation market, where home values are likely to rise over time, as opposed to a cash-flow market, where homes are cheaper but don't appreciate as much. It's very tough to be positioned for both cash flow and appreciation out of the gate. It's very difficult to find a good deal on-market, you have to get more creative to make a good deal happen.
I am a real estate agent just across the river in Vancouver WA. If you are ever thinking of crossing the river and looking at any opportunities here - I would love to help you. I am also a rookie investor and looking at buying primarily Multifamily and would house hack. One benefit is property taxes seem to be lower here then what you will find in Multnomah County. Many Oregonians are and have been making the trek across the river.
I love to chat real estate in general- I would love to meet up for coffee sometime and bounce ideas off eachother or look into any interesting opportunities.
Congratulations on your first property - that is a huge first step that many never end up taking.