All Forum Posts by: Caleb Webster

@Andrew Syrios Are you investing in KC right now? I've just recently started acquiring small multis out there, KC is great! We should chat sometime.

@Tyler Combs What LTV are getting from your lenders here on refis? Are you keeping initial capital in properties after the refi or are you able to pull everything out? Do you foresee mean rents decreasing over the next year or two as more inventory comes online?

Just curious, is anyone on here actively brrrring commercial multifamily properties in Portland? What do you look for in a potential investment? How are you finding your deals? 

I invest in value-add multifamily OOS but it seems like a whole different animal in PDX. 

@Chace Fraser Have you used Dweller before? I'm curious what there pricing is.

@Feroz Mohummed I would look into rental properties in Vancouver. Landlord laws are a little more friendly there and the area is undergoing significant growth right now that is starting to attract large scale development interest. The 1.5B waterfront project is a prime example of this. I foresee that the proximity to Portland combined with lower tax rates will continue to make Vancouver a desirable city for millennials to settle down in. 

@John Jacobus As far as I'm aware, zoning doesn't apply to ADU's. You can build an ADU in a basement or on top of a garage, it doesn't just have to be detached. The cool thing about an ADU though is it is treated as a separate unit with a separate address. One of the proposals in the works that @Mathew Wray mentioned would allow for more than one ADU per property. 

@David Antunes Price to rent ratios are going to vary quite a bit by location. I have a friend that just purchased a triplex in McMinnville that just barely hits 1% but anything on the MLS in Multnomah County probably won't come close to that.

With ADU fees waived currently, you can build an attached ADU on top of a garage for $80k that will rent for $800-1200 depending on location. Might be something to look into.

I was chatting with a woman in Development Services a few months back and she seemed fairly confident that atleast the ADU proposal allowing for more than one on a property should pass. That would mean you could have 1 detached and 1 attached ADU per lot.

@John Jacobus Another strategy you may want to consider is buying a property with a large enough lot to build an ADU on. Permit fees with the City of Portland are currently waived indefinitely so that will save you about $30k. You could build the ADU to your design taste and live in that while renting out the main house.

@Colby Kirk Sent you a message.