All Forum Posts by: Garold Radke

Hi Heidi, Welcome. I just joined BP myself. I am a part time MF investor in Oregon - mainly around Portland. I live in Lebanon and work in Corvallis. I might be interested in investing around Newport.

Hi Joe, A key part of my formula is having one partner with a lot more experience than me. That was especially helpful in the early days. So the key things that I watch are price per door, cap rate and location. We have been buying mainly 70's to 80's type buildings and price per door has been (at least up till 5 years ago) in the 60Kish range and cap rates around mid 6's (if memory serves me right and also based on just a few purchases). Hard to find those cap rates now and I didn't think they were that great 5 years ago. West Portland and Beaverton - where you are is good if you own property now but expensive to buy. We have a property there right now that is doing quite well and we bought our first one there 8 years ago and wish we hadn't sold it. Got burned on cash flow with a property in Newberg because utilities doubled in 5 years. Turns out this is quite common for smaller communities - at least the ones I am familiar with in Oregon. Also property taxes in the smaller communities can kill you. I just backed out of a deal here in Lebanon partially because taxes were astronomical - almost twice on a per door basis as our property in Beaverton while producing less rent. Even I can tell that is the wrong formula. Thanks for writing. Good luck.

Jeff S. It is about the same here as in Portland. Rent demand is high, vacancy rate low. Hard to find apartments to buy. Caps are below 6 and kissing the low 5's for many listings. Our partnership is in a 1031 right now and having trouble finding deals in the 1-1.8M range to exchange into. We are shopping mainly in Portland. If you see anything let me know. Do you own realestate in Portland?

Hi Joel, We have done fully performing. Size is typically 1-2 dozen doors. I have never looked into some of the options you list and cant say I know much about them but I will look into them. Thanks Joel.

Hi, I am Garold and live in the Willamette Valley in Oregon. I have been investing part time in MF properties for the last 8 years with partners. I have a small portfolio and am hoping to add additional MF to it. I have really enjoyed listening to the podcasts and look forward to meeting many of you online through BP.