All Forum Posts by: Chris Shepard

@Andrew Syrios

Hey Andrew,

Landlord solutions is an eviction service here in Portland that we use.  Sam is amazing over there.  They don't manage properties as far as I know.  Check out our company.  Uptown Properties!

Cheers,

@Pragya Singh, @Jefferson Smith, and @Joel Moore

Hey all, I just want to throw our company, Uptown Properties' hat into the ring.  We focus on the west side of Portland, Beaverton, Tigard, and Hillsboro. We just moved into our new office in Multnomah Village.  In fact we are hosting a meet up prior to the RareBird meeting next Thursday at 5pm.  Shoot me a PM or just come if you're interested in meeting up!

3524 SW Troy St 97219 next door to NW Wools

Cheers,

Sounds like there are a lot of good responses to this thread.  I will chime in as I just bought a 4 plex in March.

First thing I did was send out a 30 day notice letting the tenants know that I would be billing them back for utilities.  I used RUBS (ratio utility billing system) based on square footage.  This is what my property management company does.

2nd thing I did was give the tenants a 90 day notice that they need to sign my new lease (at a $200 increase) or move out.  3 of my tenants ended up  moving out and I renovated those units and raised rents from $800 to $1200.

It worked out very well in the end and I increased my rents from $3200 to $4600 in about 6 months.

@Kyle J.

I give a plus one to Kyle for just reporting it to a debt collector and letting them try to collect funds from the tenant who skipped out.

Our property management software does this for us, Appfolio.  All we have to do is click a button and they will process the debt collection.

I am a property manager and can give you some data if you are interested.

Thanks,

Hi! I have an LLC that has a commercial building in it that I need to refinance. It’s an investment property. We’d be looking for an investment loan. Looking for 75% LTV IN Oregon. Any referrals would be awesome! Thanks!!

Bought my first in 2006.  It’s been quite a pain and I still think it’s underwater. Tucson, AZ (my hometown) has been hit hard with more than just basketball scandals.  Rents and vacancy have been very difficult along with lack of jobs.  I’m looking forward to selling possibly this summer and taking my equity to Portland. 

if you want to limit your liability for your property (especially a short term rental) you'll want to transfer it into the name of an LLC. I do this with all my properties and they are all conventionally financed... haven't had a lender complain yet (they are all still getting their checks on time).

It's a pretty easy process and just requires that you register the LLC with the state of your choice and then you need to quit claim the property into the name of the LLC. I can walk you through how I have done this with all my properties if you're interested.

hope you had a good trip!  There’s a lot of multifamily within a 30 minute drive.  Hit me up when you are back in town!  I specialize in small multifamily properties in PDX!

Cheers

Hey Matthew,

I might have an off Market lease option deal you might be interested in. 

Send me a PM if you haven’t found anything yet!

Cheers!