Is it a good idea to flip condos in Portland, OR?
Hello ALL - My agent brought me a condo, and I have never flipped one before. I'm not sure if this is something sellable (profitable)? I'd love to hear your thoughts about it! Thank you!!
Hi Ali
My short answer to your question as posed is very simple:
Questions: Is it a good idea to flip condos in Portland, OR?
Answer: yes
My answer would remain the same if you replaced “Portland, OR” in that question with anything else be it the US, UK, Germany, Vietnam, Mexico, Canada, India, or the North Pole. Comes down to the numbers, the nature of the deal, and whether or not you have experience and the right team around you to make it work.
Now I have a question too. I saw this car for sale on the way home yesterday. Do you think it would be profitable if I bought it, ran it through a car wash, and sold it next week?
Lots of tools and info on BP to get you started!
Condos can be some of the most profitable flips since there is no exterior work, roof,siding, etc to be done. You will have to work with the board on any of that needing to be done & if there is a special assessment. But like all deals depends what you bought for, run your numbers
#4 Personal Finance Contributor
- Specialist
- Portland, OR
@Ali Al-Khafaji yes and probably a better idea than long-term. It can be complicated with lots of potential problems with commercial zoning and permitting possibly if you want to replace windows but other than that yes can be profitable. Be careful though there are possible hazards with crazy boards etc. Go to a board meeting or talk around could be a potential special assessment brewing. Look at the siding many times a problem with aging buildings with cheap TI-11 and leaking windows, roofs etc. Don't assume board problem you are an owner it is your problem and you pay one way or another.