All Forum Posts by: Brad Hammond

@Matthew Champion, Great advice above.  I would absolutely echo what @Tyler Combs said about Investor Lab.  I've been a member for a bunch of years and really value the education they provide.  A couple of other thoughts...

1. Look into duplexes, they cashflow better.

2. Also look into areas like Newberg and McMinnville. 

3. Real value is created through value add.  Any time you can increase rents, you will be handsomely rewarded.  

@Patrick Cousineau, I have a rental in St. John's and I really like that area.  You will need to be careful though because there are good areas and bad pockets.  Also check out SE (Sellwood).

Hi @Eric Koelling, the rules are more lenient if you live in the property and yes, you can evict for other reasons besides non-payment of rent.  However, I've heard the courts are really back logged right now.  Also, the eviction moratorium did get extended until the end of the year.  

@Arta Montero, It looks like you have a property management and tenant issue.  In my opinion, the clogged drain, long blinds, dirty stove, and cracked fridge drawers are not maintenance issues.  They should have been addressed while the unit was being flipped and the PM company should not be charging you to come out and fix these items.  I think you have two choices, take your chances with your current situation, change property management companies or self manage.  I self manage but let me know if you want some hacks to self manage or names of good PM companies. 

@Sharon Beatty, That is awesome that you created a basement ADU. I know sometimes those can have some surprise expenses and the permitting isn't fun. Using a VA loan is such a powerful tool when used correctly. Let me know when you have an idea of your criteria and I'll keep an eye out for you.

@Anthony Golden, I don't have too much experience on the wholesale side of things but I know there are a handful of local Facebook groups with people that are always looking for deals.  

Hi @Edward Escalante.  Congrats on making the deep dive into real estate!  What type of investing are you looking to do?  The first step is always soaking up as much knowledge as you can.  I think all the material BP puts out (books, podcasts, blogs) are a great way to get lots of information. 

See, it can be done in Portland!!

I use Shawn Morgan for real estate legal issues.  Also, I've heard Michael Harris present though I've never used him.

Absolutely, if you give your tenant a lower rent unfortunately that will create a problem for you in the end.  An unintended consequence of all the restrictions is that it forces property owners to raise rents every year to keep up with the market. 

@Mathew Wray I agree. I raise my rents every year with market rent (or slightly below).  All the regulations that Portland is putting in place are to restrict large bumps in rents and forcing people out of their homes.  In my opinion, if you keep rents at market rate each year there shouldn't be an issue.  If you keep your screening/application process fair and raise rents you shouldn't have anything to worry about.