All Forum Posts by: Brad Hammond

Let's do Thursday from 7-8.  If anyone else wants to join in, DM me your email address. 

Cool, let's give it a try.  For a Zoom call I'll need everyone's email address if you can send that to me in a private message.  It is really easy and intuitive to use.  Is there a good time that works well for everyone?  I'm going to assume evenings.  Just throwing out some times, how about Tuesday 6-7, Wed 5:30-6:30, or Thursday 7-8?

Hi @Brian Montiel, @Jessica Parker, @Trent Russell.  I'm a Portland investor (buy and hold) and agent.  I'm always interested in meeting local investors.  Are you all interested in doing a Zoom call to chat real estate in the next week or so? 

I have been watching this but haven't seen any details. I think there could be some great opportunities to convert a SFH into a duplex. I don't think it will be as widespread as some people think because the lot would still need to be at least 5,000sf to put in a second unit.

@Benjamin Kirkpatrick, in Portland city limits you can not evict a tenant without cause once they have been there over a year.  If after a year you do, you must pay relocation fees of around $4k.  HOWEVER, since you will be house hacking and living in the home, you would be exempt from a lot of the laws from Portland.  My best advice is to keep leases at 50 weeks and get not renew if they are an awesome tenant.  

Hi @Melony Ochieng, $1400 for a 3 bedroom seems a little low (depending on the area).  What is your agent telling you market rents are?  If you can increase the rents, it could be a good deal.  Unfortunately, Portland is not a high cash flowing market.  

My lenders told me the Fanny/Freddy minimum is now 15% (I think it recently changed. You could always go FHA if that ends up falling through.

Hey @Eric Michael, I do have someone in mind but your first stop should be to make sure zoning will allow for it.  I would check with the permitting office to make sure there is enough density on your lot. 

@Aaron Hollingshead, I agree with @Mathew Wray.  Now is a great time to sell in Portland and I don't think prices will continue to go up over the next 18 months like they have the last 18 months.  Since you are not going to be living it, you should reinvest it into something different. 

Like what Mathew was saying, it is harder to sell a property with tenants in it.  You would need to give them 90 days notice to vacate if it is going to be an owner-occupied home.  

You should send a 30-day cure or vacate notice for each violation.  For things like noise complaints and vaping I would get documentation from the other residents.  I've had them give me a video in the past.  Usually saying they need to get rid of their pets in order to live there is enough to get them to move.