All Forum Posts by: Catherine Emert

@Drew Sing while Bend, OR prices may not be what you are wanting to pay have you thought about looking in surrounding towns and cities to capitalize on the growth in Central Oregon?

@Michael Lettieri yes, if you created a second unit it would for sure increase your monthly income.

@Michael Lettieri sometimes if you are looking at a 1 vs a 3 you will see a difference but with the same square footage I think you are better leaving it a 3 bedroom. 

Most of the time rent is evaluated based on square footage. 

@Matt Pine I would think some of the following would be beneficial to your purchase:

1. Have you made any repairs and/or updates/remodels?

2. Did any of those repairs/updates/remodels require a permit and did you obtain a permit? (follow up with the county to make sure the permit was finalized).

3. Review your prelim for any easements, etc. you can ask title for any answers you are seeking about this report.

4. If it's currently a rental ask for the rent rolls, P&Ls, leases, late payments, security deposit info., inspections done.

5. Ask for the Sellers Property Disclosure Statement - read through each question and answer carefully and ask any questions that may come up even if they are small.

6. If it's in an HOA you want to make sure you are calling the HOA management and make sure there are no violations against the property, any past debt etc.

In real estate there is really no stupid question - I'd also ask if anything is still under warranty on the home and make sure that warranty is transferable. 

I hope that helps. 

We have worked with several cannabis companies in Oregon and unfortunately financing is not easy. If you google cannabis lending you may find a few hard money lenders in your area. 

Because you would be doing cannabis immediately it sounds like the likelihood that you would be able to get a commercial loan probably isn't strong. 

Is it not in your lease? Usually these terms are written in every lease. 

This happens to us all the time with our listings we have for sale. Some have even used one of our broker's names and created fake business cards. Other than flagging it there isn't much you can do. I have messaged them in the past and played little games with them and then called them out and the post goes away. Best advice is to maybe update any of your advertising for the property and put a note that you are aware there is someone who has copied your property and that you will not require any money upfront before seeing the property and completing an application. This unfortunately is an old scam that people continue to fall for. 

Read your prelim VERY carefully, get a home inspection and know everything you can that is wrong with the home. Do a final walk through day of or day before closing. Ask ALL the questions you can think of - any current repairs they've done, were any needing to be permitted, did they hire a licensed/bonded contractor to do them. The next 14 days is your chance to get all the info. 

Most Brokers/Agents can easily access this information for you and would be happy to do so.