All Forum Posts by: Brad Hammond

Hi @Kevin Hofstee, I love Rare Bird.  They meet once per month to network plus a market recap and a presentation.  They are the best in the city.  I can't really comment on any others.  

Also, look south toward Newberg & McMinnville.  They have lower prices and people are moving down there from Portland to escape city life. 

@Arta Montero, The reason I'm selling is that I created the 5th unit and with that increased the value. Because of that, I want to convert that equity into another property.  

Hi @Arta Montero, with cap rates being so low in Portland (compared to other parts of the country), the market is pushing you to do value add so I would go with that. If you rely on market appreciation, you are only taking advantage of a part of a very powerful lever. It is really important to find something that breaks even or cashflows from purchase and multifamily is better for that then SFH. But to answer your question, I like North, Northeast, Montivilla, Forest Grove, Milwaukie, and Sellwood just to name a few. Also, I'd be kicking myself if I didn't mention my 5-plex for sale in Northeast. The address is 7230 NE 18th Ave. Take a look at it and let me know what you think!

Hi @Matt Lowery , I feel your pain, my wife with through a tough bout with an autoimmune disease for about two years and is finally getting close to normal but not as severe as your girlfriend it sounds like.  Mike Nuss is a great resource for sure but just know that you will need to find an apartment that is ok with you doing AirBnB and I'm guessing most of the corporate-run ones won't be ok with that.  Look for a mom and pop run apartment and let them know your situation.  

You could easily purchase a tiny house or camper that is already finished but it might be hard to find some land to put it on.  Have you thought about renting your place in KC on Airbnb?  Especially if you travel a lot it might be a good solution.  

Hi @Alex F. (almost) welcome to Portland!  I think you should look into a duplex-4plex and live in one of the units. That will give you reduced or free rent while you are investing plus you can easily move out if you so desire. 

As far as areas go, that really depends on what you are comfortable with and your budget. There aren’t any war zones in Portland, just different types of markets. Let me know when you get into town and we can talk about what you’re looking for. 

Hi @Arta Montero  I invest in Portland and I think it all depends on your expectations. I think it is a good place to invest and there is lots of long-term growth potential. I have a day job and invest on the side with no issues but it’s important to have systems set up.  Let me know if you have other questions. 

I started in October and took my exam in April but I also took the month of December off.  It says it is 150 hours but it took me closer to 175 with study time on top of that.  I ended up going with Uptown Properties.  They are a small brokerage that specializes in investment properties but I was also looking at Keller Willams.  

Hi Anna,  I just passed the exam in April and used OnlineEd. I thought they were good and everyone told me they were the best. As far as brokerages go there is so much involved with that, it Depends on what is going to be a good personal fit for you. 

Hi David.  I believe the Class A market is over saturated at this point.   While there are not very many buildings in the permitting stage (due to the higher cost of construction and rent control) there are still lots more that will be coming online in the next 6 to 12 months.  Class A is already offering concessions because they can't fill vacancies so all these new units will create an over supply.  I feel that expecting 3%-4% rent growth in the short term is not realistic but perhaps things will level out in the long term.

I can't speak to condo conversions specifically but the general felling is that the housing and rental markets are starting to cool and prices are dropping.  On the other hand we still have very low unemployment and I can see more high paying jobs coming to Portland in the future.