Realtor · Portland Oregon · Member since 2018 · 18 posts · 6 votes
Portland Realtor, investor and ADU developer struggling to watch what's going on with affordability. I've got lots of ideas and want to connect with other like minded folks. Don't get me wrong, I like making money and want to continue to do so but also want to continue to explore ways to help make Portland a more affordable city to live in! Are you an investor, builder, homeowner looking to be an investor, or a concerned resident of Portland who wants to help with these issues? I'd love to hear from you, let's connect!
Hey Stewart, I work in construction building multifamily projects. I think we need a combination of zoning allowances for creative building (3D homes, earthships, small SF homes under 500, etc). Contractors need flexibility to try and solve these housing problems The issue is also jurisdictions will soon be outpaced by the technology. So reviews and costs for inspections will increase. There is also a shortage of contractors, materials, and construction management which is escalating new build costs in this area.
I think a mass produced 3d printed and multifamily community could help put a dent in the shortage. Glad someone else is thinking the same way.
I agree that the Portland market is one of the hottest markets out there, with the prices soaring up, but I am a huge fan of the Portland area for investment in real estate regardless of the "affordability". Portland is a "hybrid" market because you can still find deals that will produce positive cash flow and still get to benefit from the great appreciation that we have here! The play in Portland at the moment is long-term growth through appreciation. As a local multifamily investor myself, I highly recommend finding a deal here and not regret looking back 5 years from now saying I wish I bought a property then.
I'm also a Portland realtor/investor and it's extremely tough right now findings Wins. I'm actually selling my duplex I own in Portland to 1031 elsewhere. The laws here just make it very difficult and there is greater appreciation with way less hoops to jump through in other states.
I agree that the Portland market is one of the hottest markets out there, with the prices soaring up, but I am a huge fan of the Portland area for investment in real estate regardless of the "affordability". Portland is a "hybrid" market because you can still find deals that will produce positive cash flow and still get to benefit from the great appreciation that we have here! The play in Portland at the moment is long-term growth through appreciation. As a local multifamily investor myself, I highly recommend finding a deal here and not regret looking back 5 years from now saying I wish I bought a property then.
Hey AJ,
Thanks for your reply! I don’t disagree that homes will appreciate here and value will be added. I did buy a rental property in 2020 that’s already worth an extra 100k. Even buying a house for $350k (basically no possible unless Far East Portland) with a 2.875% rate, the break even point is over $1900. It’s crazy to me that a 2/1 on NE 83rd needs to $2200 or more as a rental. I’m looking to create a new asset class of homes through ADU condoization or partnering with home owners to add tiny homes. I want to make $ and help create ways for portland to be more affordable. I never could of moved here if this is what portland was like when I came here.
I'm also a Portland realtor/investor and it's extremely tough right now findings Wins. I'm actually selling my duplex I own in Portland to 1031 elsewhere. The laws here just make it very difficult and there is greater appreciation with way less hoops to jump through in other states.
Hey Zac,
Thanks for your reply! It’s not that I want to invest elsewhere to make $, I want to explore ways to create affordable housing here by getting creative; ADU condoization, tiny homes, cottage clusters, STR partnerships etc. I never could of moved to portland if this was the case when I came here. I can afford to live here and have made a ton of $ with my investments, I’m looking to continue to make $, build equity and create solutions.
I'm also a Portland realtor/investor and it's extremely tough right now findings Wins. I'm actually selling my duplex I own in Portland to 1031 elsewhere. The laws here just make it very difficult and there is greater appreciation with way less hoops to jump through in other states.
Hey Zac,
Thanks for your reply! It’s not that I want to invest elsewhere to make $, I want to explore ways to create affordable housing here by getting creative; ADU condoization, tiny homes, cottage clusters, STR partnerships etc. I never could of moved to portland if this was the case when I came here. I can afford to live here and have made a ton of $ with my investments, I’m looking to continue to make $, build equity and create solutions.
I totally understand where you are coming from, but when there are so many rules and regulations that dictate what you can/cant do with your own property it's demoralizing when other states seem to have a better grasp of things.
I'm also a Portland realtor/investor and it's extremely tough right now findings Wins. I'm actually selling my duplex I own in Portland to 1031 elsewhere. The laws here just make it very difficult and there is greater appreciation with way less hoops to jump through in other states.
Hey Zac,
Thanks for your reply! It’s not that I want to invest elsewhere to make $, I want to explore ways to create affordable housing here by getting creative; ADU condoization, tiny homes, cottage clusters, STR partnerships etc. I never could of moved to portland if this was the case when I came here. I can afford to live here and have made a ton of $ with my investments, I’m looking to continue to make $, build equity and create solutions.
I totally understand where you are coming from, but when there are so many rules and regulations that dictate what you can/cant do with your own property it's demoralizing when other states seem to have a better grasp of things.
On the contrary, I’d say the residential infill project, tiny house rules and ADU condoization create huge opportunities
Hey Stewart, I work in construction building multifamily projects. I think we need a combination of zoning allowances for creative building (3D homes, earthships, small SF homes under 500, etc). Contractors need flexibility to try and solve these housing problems The issue is also jurisdictions will soon be outpaced by the technology. So reviews and costs for inspections will increase. There is also a shortage of contractors, materials, and construction management which is escalating new build costs in this area.
I think a mass produced 3d printed and multifamily community could help put a dent in the shortage. Glad someone else is thinking the same way.