New investor in Portland, OR

Buying & Selling Real Estate
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New investor in Portland, OR

Susan Herschell
Rental Property Investor · West Linn, OR · Member since 2016 · 30 posts · 11 votes

Hi Everyone, 

I am new to real estate investing and BiggerPockets. I am looking to invest in buy and hold multifamily rental properties in the Portland, OR area and having trouble finding properties where the numbers work. The market continues to explode and I fear all the good deals may be gone! Any advice for this newbie investor?

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  • Demjan Van Der Kach
    Investor · Phoenix, AZ · Member since 2016 · 53 posts · 6 votes
    10y

    what numbers are you looking for? What do you get? Which areas are you looking?

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  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    10y
    Susan Herschell I recently listened to podcast 40. One of the tips mentioned was that every city has deals to be found no matter how saturated it may feel. I'm sure one will come your way soon.
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    Susan... investing is regional.. whats good here would be terrible somewhere else.

    west coast cap rates are simply not as high as say mid west

    reason:  scarcity... tenant quality  and ease of management plus rents will rise over time

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  • Kory Thaut
    Investor · West Linn, OR · Member since 2015 · 100 posts · 58 votes
    9y

    @Susan Herschell Welcome to BP! We live in the same zip. It's just harder than it was a couple of years ago but I don't think it's fair to say they're all gone. It just takes much more work than waiting for things to hit the MLS like you could do a few years back.

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  • Susan Herschell
    OP
    Rental Property Investor · West Linn, OR · Member since 2016 · 30 posts · 11 votes
    9y

    Thanks for the vote of confidence, @Kory Thaut. We haven't engaged with a broker yet. That's our next step (husband and I are partners). My hope is that they will be able to find some screaming deals outside of the MLS. Thanks for your encouragement.

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  • Susan Herschell
    OP
    Rental Property Investor · West Linn, OR · Member since 2016 · 30 posts · 11 votes
    9y

    @Daniel Hyman, thanks for the podcast lead. I am finding them to be super helpful. I don't think I've listened to 40 yet. Thanks for the tip!

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  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Susan Herschell

    Welcome to Bigger Pockets. Make sure to listen to the podcasts. They are very informative.

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