All Forum Posts by: Brad Hammond

Since they are on a month to month lease you can have them sign your new lease once you close. I’m not sure the benefit of having the seller do it. Worst case is the resident won’t want to sign a 12 month lease so negotiate for a 3 month. If they won’t do that then start advertising for a new resident. Hope that helps. 

@Bryce Davis and @Francisco Sanchez I'll see you at Rare Bird on Thursday.  I'd love to chat, I'll be the tall guy dressed in business attire.  

Hi Kerri, I agree with a lot of what @Mike Nuss said. I would not wait for a downturn to occur to invest. I’m not sure we will see anything significant in the next 3-4 years and the lost opportunity would be greater then the reduction in prices. 

I’m a multi family guy but I understand if you are too busy to get into something new. If that’s the case I would look into hard money lending. 

Hi Wendy.  I've got a 5 unit building in NE Portland.  For fixed costs I pay about $75/mo for landscaping, $50/mo for electric (washer & dryer and exterior lights), $130/mo for trash removal and $250/mo for water/sewer.  I'm sure your numbers will very but that will give you an idea of what the fixed costs will look like  

Looks like a great deal @Neal Collins!  That is what I am in the market for so it is encouraging to see that there are some deals out there.  Thanks for the little bits of advice scattered throughout the post.  BTW, haters gonna hate ; )

Hey Joel. I’ve used Paul Schmitt for most all of my projects and he is great. We just converted a storage room into a studio apartment. 

I use OnPoint. I’ve only got 2 loans with them but they are portfolio lender, so that’s cool. 

Thanks for the advice everyone, I've got some good actionables here to work on.  

Hi friends.  I am looking for some advice on why I'm having trouble finding a renter for my 2 bedroom 1 bath apartment near 15th & Lombard for $1,245.  Any advice would be great, I am open to all comments both good and bad.  I've got it posted on Zumper, Zillow, Craigslist, Apartment.com and have signs along Lombard.  I've had it listed for about a month with just one person submitting an application. Here a link to the listing... https://www.zumper.com/apartments-for-rent/2652476...

Sorry @Robin A Jackson, I don't know much about that stuff.