All Forum Posts by: Account Closed

@Chris Parrish - mind sharing what those desk fees were? And did you end up at Century 21 or another for your first?

Hey @Katrina B. - let me know where you end up. I'm also looking around as well.

@Shelli Neal - Thank you for your honest opinion. I guess Than Merrill was recently in town again and I went to the free 2 hour promo event. I signed up for the 3-day workshop but then cancelled after reading your post. 

On advice from these forum posts I'm planning to be a regular at the local REIA's where I hope to learn from seasoned local investors.

I'm currently going through the online version via Portland Community College. It was more expensive than other online schools, but I've found the content very easy to understand with the lessons and examples etc. I'll be taking my exam in two weeks so I'll be looking very soon at the various places to hang my license.

Just chiming in that I am also looking for broker recommendations. I've done a little digging and these are the ones I could see myself with... I'm not sure of the terms of each but I'll figure that out soon enough and post back here once I settle in on one.

• Suma
• Portland Living Room
• W(here) 
• Inhabit 
• Urban Nest 
• M Realty 
• Inhabit
• Think 
• More 

Whats the link? I'd be interested.

I've been pretty nervous about another housing crash since the beginning of 2016 (especially in the hot Portland, Oregon market).

However, the prices just keep going up. I feel like it's too hard to say whether we are in an actual bubble or not.

Things to consider:

* zero and near zero interest rates definitely helped fuel housing appreciation, if interest rates rise too quickly, that could have an impact on housing prices. But if they steadily rise, that may only slow the rate of appreciation but not squeeze it off totally.

* On the other hand, lending standards are currently still very strict - so it's not like the banks are just letting anyone who wants a house buy one...you have to meet income requirements, have a good downpayment, and good credit.

My thoughts are that these bubbly feelings we have are perhaps just the start of the actual bubble lead mostly by people with money and investors. If the president elect manages to cut regulation (Dodd-Frank) or makes it easier for banks to make money (loosen lending standards) then we could see another few years of house appreciation (more Americans have the means to enter the housing market) before the actual bubble pops.

I think a couple interesting data points to keep an eye on are:

tradingeconomics.com : home ownership rate + New Home Sales data show that we are far from a normal situation compared to the previous decades. Right now, supply and demand rules and the reason for dramatic housing price increases are typically because of a housing shortage coupled with very high demand. 

That's my two cents about the whole thing.

I am also struggling with the thought of buying in inner Portland. I am saving for my down payment now, but it feels like I am chasing a runaway train. I am hoping that the federal reserves decision to raise rates this year will slow down home appreciate a bit for me to be able to catch up. 

It doesn't seem like Portland wage growth is keeping up with the price increases in both rent and home appreciation so if things keep going the way they are one could easily get priced out of those coveted inner neighborhoods.

Now I find myself considering further out neighborhoods I never thought I would :/

First deal went pretty good. I picked up a 'fixer upper' and it ended up being more work and money than I realized. To make it pencil out, I moved into one of the units for 6 months while I did most of the easy stuff and found a really good contractor from Angie's list that worked with me for the 6 months while I was there to get everything up to snuff.

Now I'm just living in a small studio back in Portland saving money for my next deal. 

With most of the repairs and upgrades over with on the 4-plex...I'm just collecting the rent checks with no issues. It will take me about 4-5 years to recover my costs to where I'm profitable (on a cash basis - but the property has appreciated substantially already) and I have a healthy monthly positive cash flow with high potential for future rent growth. 

All in all, I'm glad I have it even though it was a bit more work than I planned ... actually figuring out how to make it work is fun and a good learning experience.

Hi Ethan -

I am also from Portland and see that you are interested in multifamily as am I. I invested in my first 4-plex 2 years ago in the town of Cornelius, just west of Hillsboro. Where are you looking to buy? I'm trying to work up towards my next investment, but the Portland market is pretty inflated for my taste now. 

I was thinking about looking towards Salem or Eugene for my next property once I'm ready.