All Forum Posts by: Jacob Wathen

Hello Cori! I was going to shoot your contact info over to a colleague but I know he uses bigger pockets as well. @Travis Daggett is an investor friendly agent in Eugene and I am sure he would be happy to help out. He is experienced and frequently has access to off market deals. At the same time there are very few properties in Eugene that will meet the 1% rule. Travis may be able to give you a better idea of what to expect especially with something near campus. 

There are plenty of great areas in N Portland, Foster/Powell, there are great pockets east of 205. If you are looking more for suburbs Hillsboro is a good spot right now and quite a few opportunities around 217. Shoot me a message if you want to talk more. I would be happy to give you more direction.

Hello Cori! I would be happy to chat with you and hear more about what you are looking for. I used to be a part of the REI community in Eugene when I lived there. I know quite a few agents that focus on working with investors. I also know a lot of people that have college rentals.

That is awesome! I have been looking at Dallas for a while now. Should’ve jumped in a few years ago but you live and you learn. Congrats on the great rental and tenants that treat it like their home. As a leasing agent I have definitely gained a new appreciation for keeping good tenants happy in order to reduce vacancies.

Hello Alex! You are definitely in the right place. I’m not sure how long you have been on bigger pockets but there is a ton of information in the forums. Use the key word Oregon or Portland and you will have more info that is region specific. The podcasts are great but the deals they post on there are very few and far between in Portland. I would be happy to grab a coffee sometime and talk about my experience. The company I work with currently has 3 construction projects so there is always plenty to see.

Hello, are you considering a vacation rental, Airbnb, long term rental, or what?

Oh yeah, the snow is definitely a major issue! The rain in Portland doesn't seem to stop construction but it sure doesn't help. Haha 

I love the idea of starting out with something smaller (manufactured home) and then scaling up once you figure out the process. As much as I want to buy a 4-plex and fix it up it would probably be more practical to start small. Especially with my lack of experience in construction in general. I can do the cosmetics easily but I will have to hire out for electrical, plumbing, gas, etc. Even manufactured homes in Portland are a pretty large investment. 

@Lauren Perry, Nashville is a booming market and prices have definitely risen as a result. I do think there is still some room to grow there and if you find a good deal in a decent area I would say go for it. Especially given your experience in that area. The main reason I ask is because it is important to have some familiarity with markets that you invest in. You can gain a lot of knowledge through research but there's nothing like actually visiting and driving through the different neighborhoods yourself. The best advice I can give is stick to what you know and really focus on finding good deals by utilizing wholesalers and a real estate agent in each market. 

I am focusing on finding properties in Portland as well as Lincoln and Omaha, Nebraska. I lived in both places and I am on lists for 10 wholesalers in each city and of course looking at the MLS. I am constantly looking at deals and I have been stuck in analysis paralysis a bit. I can either get a duplex in Portland or a 16 unit building in Nebraska in my budget so I understand the desire to look out of state! Haha

Yep! I was referring to SHARC waterpark. It sounds like you have a great reno going. Is it your first flip? You used to do new construction but flipping is definitely a different game, especially in a completely different market. 

Hello @Mike Savage, 

I agree with everyone's comments so far. 

As Realtor and investor in Portland I do see the value in listing the property with an agent. I have experience in this market and I can see that properties near 1 million are sitting longer even on the MLS. If you plan to price your home for 100K under the value you will probably get some action but I highly doubt you would want to do that.

Also, there are very few unrepresented buyers looking at properties at that price range. VERY few. So you would still be responsible for paying the buyer's agent commission of typically 3% when working with a FSBO. Your savings would only be 30K at this point and your property would not have the level of marketing that it needs to sell. Additionally, most listing agents pay for the advertising of their client's property and are willing to take that risk to get the home in front of the highest number of people possible.

In the Portland market it is not hard to sell homes under 400K FSBO. They still will not go for as much as properties listed and marketed through the MLS with an agent but they do still sell. That being said, your home is not worth under 400K. No matter what, unique homes in your price range are likely going to sit for a little bit, which will give you the time you need but it will still be sold for around the price range you are looking for.

I would be happy to give you a comp analysis of your property if I have a little more information. It is also best to actually see the home in order to give a proper analysis. I will shoot you a message. 

Jacob Wathen