All Forum Posts by: Brad Hammond

I love it and I've been waiting for this to happen for a long time.  Now we won't charge cleaning fees so we will be so much more competitive.  I'm planning on our occupancy going up since we will be a better value.  

Investment Info:

Single-family residence buy & hold investment.

Short term rental

Hi @Nathan Brock, I think it makes more sense to occupy your first property.  You can put less money down and have a lower interest rate.  If you can't make the numbers work, can you make extra money with a side hustle?  Or possibly get a roommate?  At least you'll be in the game instead and making money on appreciation and tax breaks. 

Hey Tony, I think it depends on your goals and your unique situation. There are ways to make an investment work, you might need to be creative is all. 

Hey @John Chapman, I live on Corbett, small world.  I like Real Property Management for about 8%.  

Hey @Josh Humbert, I think it is too difficult to predict what happen 5 years out.  It sounds like you have a long-term approach and it is guaranteed that rents and applications will go up over time and your mortgage will stay the same.  But to answer your question, in my experience, it usually takes about 2-3 years for the rent to appreciate up to where you would cash flow.  

Hey @Dan Keefe, in the PDX market assuming you put down 3.5% and will need to pay mortgage insurance, your monthly payments would be more than if you paid market rent. However, I predict we will see a 10% increase in sales prices this year, making your ROI go through the roof. I think it's important to analyze how much you would gain by cash flow and appreciation in different markets.

I would recommend talking with your lender as well.  They might have a list of contractors they have worked with in the past.  

Hi @Madeline LeBrun, I think that's a great plan.  I can provide you with some insight into the sort term rental market in Portland, but it might be a longer conversation than a post can cover.  Basically, if it is within the city limits you will need to live on the property which it sounds like you are looking to do.  It sounds like a solid plan overall.  I have lots of friends who were travel nurses and have ended up living here and I've also helped a few traveling nurses find properties.  Let me know if you want to dive into this more. 

It sounds like you know that you want to do a live-in flip but aren't sure what the best type to do is.  What if you are open to them all and see which option comes available?  You could also research each option to see which fits your goals.  I would take a look at sold properties that match what you are looking for and sold for what you wanted.