I grew up in the Gorge and moved away for a bit. I always just lumped Portland and Vancouver into one metropolitan area. Now that I moved back to Vancouver I am realizing that they may be worlds apart. I approached a friend who I actually helped flip a house in Milwaukie OR, about a deal I wanted to do here in Vancouver. He said he never crosses the river and really just stays in his little bubble of SE Portland. Is that Typical? Is there any point networking and getting to know people in Portland??
Hi @Kent Nielson , I think most folks from Portland do tend to stay in Portland since there is so much more to do there then across the river. I feel that it is more likely that you would have people from Vancouver crossing the river to go to Portland versus the other way around. There is one exception I have found with real estate investors. I am finding Portland follks are investing into buy and holds up in Clark County. Flipping is not as much fun in Vancouver due to the excise tax when selling.
All in all I think it makes sense to continue networking with people in Portland because as time goes on more and more people will be moving across the river when their financial and family situation aligns with moving north. It is hard to deny the appeal of 0% income tax and the overall quality of schools and infrastructure that is being put in place in Southwest Washington. If you have a family, make a good income, and have the ability to work out of a home office it is a compelling move. Also, if you are retired it makes a lot of sense as well.
It also depends on who you are trying to network with. Is it future clients, vendors, or partners?
@Kent Nielson read your bio and it sounds very painful. I was there myself but with a different crash.
As to your question I had a builder/developer try to convince me to sell him a close-in east side Portland property. Suggesting I buy units in Beaverton. Bottom line was that close-in Portland is “hip and cool” and Beaverton is not.
Downtown Vancouver is pretty cool IMO. At the end of the day people want to know how you can help them no matter where they are.
Networking is always good and relationships is what it is all about.
Thanks for the input Uwe. I had a feeling that was the case ha ha. Although I was under the impression there wasn't state cap gains, just federal. Is that correct? Sounds like I might start networking in Portland as well. Do you do any networking in Vancouver. I've done a little research and haven't found too much. Thanks!
Oh and Uwe I am looking to connect with as many investors as I can and make myself useful to them. Just a nice mix of spending time finding deals for myself and others. And physically building and remodeling, I miss it. Then when the opportunity comes along originate some loans.
You know what they say you either win or learn :) I agree totally about the cool factor. It's crazy how you can cross a street and you are no longer cool. Where do you network in Portland, I'd love to meet up.
I belong to Rental Housing Alliance of Portland where we have a monthly dinner meeting with a speaker talking about landlord issues. They have vendors like yourself pitching products. Most landlords are small but some larger holders too.
Are you a contractor?
I think it really depends on business model. Vancouver is a great buy and hold market, I'm buying a single fam in Vancouver right now that will be my first rental across the river. However, there is no way at all I would want to manage a flip or development project across the river. It's just so inefficient trying to cross that bridge on a regular basis or to plan around that traffic. You lose that inefficiency in a buy and hold scenario though, in my opinion.
Yep makes sense MIke, thanks for the input.
Hi Jeff. I used to be a contractor. I built homes for a long time with my two brothers. We built some townhomes and custom homes. My older brother was the one in charge, so I was more of an employee and didn't get involved too much in the development side. After I moved away I started my own remodeling business for a while before switching to mortgages. I just can't sit at a desk for too long so I still like to be involved in the building process. So I've been toying with the idea of getting my license here again. I figure if I'm not in the position to invest at least I can help others invest by providing quality craftsmanship.
@Kent Nielson Rarebird in a good networking group but I think it costs money to join. They are in Portland and I went to a couple meet and greets and was impressed with all the people I met. An option in Vancouver is REVIN which meets every other Tuesday at Gobi Mongolian Grill at 12 PM off Mill Plain.
Given I am local to Vancouver I would be more then happy to meet up with you for coffee sometime and discuss everything under the sun real estate. My day job is working for Personal Property Management which is a property manager that covers Clark County for single families and smaller apartment complexes.
@Mike Nuss let me know if you need any help finding a tenant or need management given you are primarily working out of Portland and might not want to be on call and/or cross the river, etc...
Sounds good Uwe. I'll catch up with you next week and we can set up a time.
@Uwe G. Eric and I have already talked about reaching out to you on that stuff so will do. Thanks for the offer!
@Mike Nuss Sounds good! Willing to help in anyway!
@Kent Nielson - I'm just starting to investigate Vancouver for flip opportunities. Part of my construction crew lives near the border so getting up there isn't too challenging for us, but the traffic that @Mike Nuss called out is no joke for most Portlanders. I'd love to see Oregon and Washington finally get their act together and improve the border crossing situation.
I'm planning to head up later this month to check out neighborhoods after I've had a chance to identify some possible farm areas. Would be great to connect when I'm up there.
Sounds good @Andy Bartley I'd love to help you any way I can while you are transitioning over.
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