All Forum Posts by: Derrick Aragon

@Kimberly Lu are you looking to invest in Portland? 

I can give you some advice, do you like partnering? You want to own by yourself? 

We bring in partners on deals sometimes also I can give you some ideas on how to make SFR make more financial sense.

@Taj T. I am not sure what you mean by "law" I am assuming you mean zoning code. 

You can put an adu in any R zoned property. 

adu is limited to 800sqft max or 75% of main house sq ft. you have to watch your lot cover if there is another dwelling ie detached garage. 

It is lined out through the city code and program guides. 

People do many different types. 2/1 is a good mix for rental. 

@Taj T. I have built them for other and myself... If you build them right they make a lot of sense. 

You should shoot for $100k for your build out with current financing and taxes you should pencil. 

I have done more adus than anyone else on portland last time I checked. 

@Sarah Karakaian next time you are in town or if you want to chat on the phone let me know. 

@Say Teoh for any SFH, and if you pay double for your building cost you will never make money unless it is supper high end and you think you can get the price. 150k for lot is not anywhere you want to be paying for over 120 sq ft. Lots are 200-275.

@Say Teoh 25 offers over what you are asking is not crazy that is the market. 

you need to know your market better, and I would say 3 areas you know in and out. One flipping is tough in this part of the cycle and you need to get the cost of your money lower and know your market better and competition. 

@Steve Gunasingh you need to connect with a broker or loan officer that knows va in and out. 

@Steve Gunasingh Buddy, I think you could get into a up to a 4 plex with no money down... I recommend  you to know the ins and outs of that loan. Walk through it with a broker or your bank, closing cost what is your loan limit etc. and then you can start identifying properties that match your buying power. Traditional loans they only allow you to us 70-75% of the existing rents understand how they look at that on the loan. Good luck huge asset and improve the property and refi traditional and do it again. 

@Mike Nuss your right I have had to work through this on a few properties.