All Forum Posts by: Robert M.

We are in Yamhill County at this time, however, we are no longer looking to expand our rental real estate portfolio as state law and cap rates have deterred us for now. 

K Falls is a great place and house hacking is an amazing tool. Best of luck to you and be sure to review ORS 90 laws. 

Oregon's Democratic regime passed the first state wide rent control earlier this year. Since the new law has been in effect there has been about a 38% decrease in multifamily investing. (https://pamplinmedia.com/pt/9-news/431988-340732-sources-rent-control-law-cools-investment-in-apartments-?wallit_nosession=1)

I recommend staying out of Multnoma county!!!!!!!!!!!!!

Gov Brown just passed an additional list of rules for rentals in Multnoma.

 Must consider all felons, misdemeanors, credit scores below 499, past evictions, and landlord must finance deposit, new qualifying(low) income limits for applicant. Thats just a few of them, too many to list. If any tenant is denied for any of these reasons, a long legal certified letter must be written to the applicant as to why. Landlords are being sued left and right.  I wont even get into the new state laws concerning rent control and property management. Sorry to sound like a Debbie Downer, but people are leaving the business of Oregon rental realestate investing. Please do your research before you invest in Oregon rentals, its no longer landlord friendly.

 Yep!

There is more money in the people looking for the gold than the gold its self.

 Don't forget the income tax associated with selling Gold. I've yet to pay any tax on my real state returns, and legally never plan to. 

 Oregon's Democratic regime passed the first state wide rent control earlier this year. Since the new law has been in effect there has been about a 38% decrease in multifamily investing. (https://pamplinmedia.com/pt/9-news/431988-340732-sources-rent-control-law-cools-investment-in-apartments-?wallit_nosession=1)

The new law seems to be adversely affecting single family investing as well. Several local Real estate brokers have indicated that most of the MLS listed entry point priced homes are/were rentals, investors are leaving the game permanently. The new owners/buyers of the SFH's tend to be owner occupants and must wait 90 plus days for the eviction process to take place before they can move in, but must make mortgage payments and find a place to live during those 90 days. Big government and overwhelming regulation can lead to unintended adverse consequences. Our states housing problems have become even more problematic due to this new law. I believe this will only lead to even more regulation in the near future.

What are your thoughts?

 Agreed 

Dont forget to mention all the tax advantages of a Roth owned rental property. If in a Roth you should be income and capital gains tax free, that is the way I understand it. Real-estate should outpace the stock market. Be sure to buy right and you will do very well. Good luck and way to get after it at such a young age.

I would have plenty to say to my self if I could go back in time, just not sure if I would listen. I had different frame of mind than what I have today. 

When I first read your post, I thought I would tell ya to do what I know now, (much older than you) invest, save, be responsible, but then I started thinking about my 20's. LOL

Keep in mind that time is the number one asset that money cant buy. My advice is some what unorthodox as this is, bigger pockets. I had some of the BEST  times of my life when I was in my 20's. The adventure, crazy spontaneous ideas, and lack of responsibility is what keeps me smiling even today. Dont get me wrong, im extremely happy and doing very well, but living by the seat of my pants simply because time was on my side was a new adventure with minimal monetary ramification's.   My advice to you is, live to your fullest, have some fun with your youth, obligations and time tend to change things. Investing is great, but dont forget you're in your early 20's, you have plenty of time. 

Time is your advantage.

 Once a tenant moves out of a unit there is no set rent price carried over to the new tenant. For example, tenant A moves out of a $1000.00 dollar a month property. The new tenant(B) is charged whatever the landlord wants, 2k month for example, but that new tenant now falls under all the new and current rent control laws. You will have up to the first year of occupancy to decide if you want the tenant, as no cause evictions still apply the first year. The new law applies to all rental properties except owner occupied and buildings newer than 15 years. I hope I answered that correctly as its the way I understand the new law. The new law is very confusing if you read all the fine print, many are going to have a tough time and will wind up being sued. There are a couple attorneys hanging out at the local courthouse during evictions in hopes to monetarily capitalize on the landlord mistakes, and they definitely do. Make sure you dot your eyes and cross them T's.

Canby is a very nice area, you should do very well. If you are ever in Dundee the beer/wine is on me. 

Im very very familiar with that 7th street development. I spent quite a bit of time there this summer with D&T. I wanted one of those lots badly, but way too much for any kind of ROI. That is one of the hottest area's in our town. I believe its 12 lots(I think) and they are selling very fast due to location.You did very well with that project, im happy for you. There is no city mandate on that site that I know of.