New Member from the Portland, OR / Vancouver, WA Area

New Member Introductions
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New Member from the Portland, OR / Vancouver, WA Area

Rod R.
Vancouver, WA · Member since 2014 · 5 posts · 1 vote

Greetings fellow Bigger Pockets members. 

I have been burying myself in forums and podcasts and am amazed at the amount of valuable information and community in Bigger Pockets, I am excited to be apart of this group. 

I have been out of the Real Estate Market for quite a few years, some of my history

1980s - Framing Contractor

1990s - Small Residential Spec Builder

2000s - Left the Construction Industry for the Tech Industry (Missed both the RE Boom and the Bust)

2015 - Looking to get back into Real Estate "Buy and Hold" or "Build and Hold" for retirement.

I am anxious to dip my toes back in the market, have some concern about the local market. I found the following in my research are we really at a greater asking price per door than the area was at during the bubble? Is that something to be concerned about?

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  • Robert Laird
    Real Estate Broker · Portland, OR · Member since 2014 · 292 posts · 114 votes
    11y

    Hey Rod!

    Welcome to Bigger Pockets! I am glad you have started to get back into the Real Estate business. I work for a company that does lots of deals in the Portland and Vancouver area so if you ever want to talk shop let me know! 

    I personally have experience this trend that you have shown with the graph. Recently I have been putting more of my free time and effort into finding a multifamily in Portland. I have found a couple and have put offers on all of them. I was startled to hear that one quadplex in Ladd's Addition with an asking price of $700,000 that I had put an offer on had received over 20 offers, some with over $800,000 for a first offer!!! Its absolutely crazy right now!!! I feel like I am back in the bay area! It's straight silly!

    I do not know what this insane inflation bubble is going to do for the long term, but maybe right now is not the time to buy. Either way I wish you best of luck in the future and if you ever want to talk real estate let me know! 

    Rob

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  • Randy Johnston
    Residential Real Estate Broker · Beaverton, OR · Member since 2014 · 335 posts · 149 votes
    11y

    @Rod R. Welcome to BP, I live on the West Side (Beaverton), where it's not as crazy. Areas of Hillsboro are starting to flourish, thanks to Intel, but there are still properties to be had at decent prices. 

    Let's get together some time for coffee or a beer to talk real estate.

    Randy

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  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    Welcome to BP community @Rod R.  It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best! 

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  • Larry Fried
    Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    11y

    @Rod R. 

    Hi Rod and welcome to BP!  I think you are right to be concerned about the housing prices here.  I live in Eugene and invest in out of state turnkey properties, because the numbers just don't work for my criteria for cash flowing properties.

    0Reply
  • Rod R.
    OP
    Vancouver, WA · Member since 2014 · 5 posts · 1 vote
    11y
    Originally posted by @Robert Laird:

    Hey Rod!

    Welcome to Bigger Pockets! I am glad you have started to get back into the Real Estate business. I work for a company that does lots of deals in the Portland and Vancouver area so if you ever want to talk shop let me know! 

    Robert, Thank you for the welcome post. Your company has a cool looking website, I will look further into it

    0Reply
  • Rod R.
    OP
    Vancouver, WA · Member since 2014 · 5 posts · 1 vote
    11y
    Originally posted by @Randy Johnston:

    @Rod R. Welcome to BP, I live on the West Side (Beaverton), where it's not as crazy. Areas of Hillsboro are starting to flourish, thanks to Intel, but there are still properties to be had at decent prices. 

    Let's get together some time for coffee or a beer to talk real estate.

    Randy

     Thanks Randy, my primary focus has been Vancouver, I may need to branch out, thanks for the heads up on Hillsboro. I see you are a member of the NWREI, I have just started attending, would love to touch base at some future meeting. 

    0Reply
  • Rod R.
    OP
    Vancouver, WA · Member since 2014 · 5 posts · 1 vote
    11y
    Originally posted by @Larry Fried:

    @Rod R. 

    Hi Rod and welcome to BP!  I think you are right to be concerned about the housing prices here.  I live in Eugene and invest in out of state turnkey properties, because the numbers just don't work for my criteria for cash flowing properties.

    Thanks Larry, 

    I watched a few of the podcasts on investing out of state. I never would have dreamed of owning real estate in another state, but I may have to rethink. It does sound a bit scary though being that far away if issues arise.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Rod R. 

      you should check out a few of the members up in Longview and Vancouver you can buy nice cash flow just a little out of the metro area that will rival most out of state deals.

    Out of state comes with some special circumstances, so due diligence is uber important as well as the team on the ground were you buy.. Remember after its all said and done its all about PM when your out of state... and the quality of the product to begin with.

    I wrote a little beginners guide to out of state investing.. I have owned over 350 homes out of state and have a self taught PHD in that investment arena.. Happy to send it to you if you send me a PM...

    @Marcia Maynard is one you want to talk to about rentals north of the PDX area along with a few others.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
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  • Chris Gillins
    Real Estate Investor · Woodland, WA · Member since 2013 · 37 posts · 21 votes
    11y
    Welcome to BP!
    0Reply
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