All Forum Posts by: Mathew Wray

Welcome to Portland, Mckenan! 

There are a couple places to start...The NWREIA is active as well as RareBird Investor Network. Both are worth checking out and great places to get a good lay of the land. Besides those two, you’ll find the occasional meetup of BP folks (I think there’s a meetup talking about the money podcasts forming now).

Best of luck!

Mathew

Hi Khoa,

Welcome to BP!

If you’re looking close to home, there definite opportunities here in the Portland area and I think you’ll find we have a pretty great group of people helping out. 

Make sure you lean on your MD status-there are some special loan programs out there for doctors purchasing multiple properties. If you want more info, PM me and I’ll connect you with the right people!

Best of luck,

Mathew! 

Thanks Jonathan, 

I really appreciate the connection!

Mathew

Hey Brian,

I’m sorry I missed this until now-was showing properties and tomorrow is a family day, otherwise I would be down for a beer. 

Hope you have a great trip and enjoy yourself. It’s a really beautiful early fall weekend. 

Mathew

Hey Maxwell, I'll echo what others have said...keep looking, keep scrapping for deals, and understand that it's real difficult to get your cake and eat it too. Taking advantage of low-down, owner-occupied loans is going to reduce your chances of cashflowing, but increases your odds of actually starting your investment career. 

$300/month on a four-plex (assuming you're out after a year and that number takes into account vacancies, capex, repairs, etc.) isn't what a lot of people look for but when you think about the reduced cost of living cheap and saving for a second property and getting a jump start, then I'd say $300/month is pretty nice. 

Hope that helps, feel free to reach out if you want more specific advice!

Best of luck, 

Mathew

Thanks for the responses, appreciate the thoughts Sam but not quite what I was looking for. I do appreciate the angle you were taking. 

Jason, I'll reach out so we can connect. 

Thanks again!

Thank you Jacob, really appreciate it!

Hello Portland BP'ers...

Any leads on a good Probate Attorney here in the Portland metro area? Would love any help/referrals/recommendations you've got. 

Thanks!

Mathew

Hey friends, 

I've been on a quest to make connections with financial planners and have met a couple of good ones. I'm always on the lookout for folks I can confidently refer my clients to. With financial planners there always seems to be a bit of an underlying sale at stake. For some clients that's fine and they need those services, but for others who have substantial and diverse portfolios, they're really just looking for solid, third-party eyes to look things over. 

Anyone have a good, experienced fee-based financial planner they can recommend?

Thanks!

Mathew

Great conversation starter Zachary!

On floating homes in Portland-they often don't pencil out and you can lose the appreciation value from the land. Plus, only some of the marinas allow long-term rentals (some you can only occupy on weekends). That being said, I love the idea of them and still think they could make an interesting value add to a portfolio, especially if combined with some sort of short-term/unique/corporate/vacation rental aspect. There are a couple of owner financed options available in the market right now. PM if you want details. 

But, I know that's not what you're actually asking about!

Here are a couple ideas I've heard about over the last year coming up from folks:

Cottage zoning is new in Central Oregon near Bend to provide low cost alternatives to apartments. Basically, buy an acre of land, run utilities to it, install four prefab (I think 800 Square Feet is the max) park-model homes/tiny homes and then sell 3, keep 1 for rental. Obviously there is more to it than that, but it's a rough overview. 

I've also heard and know of at least one example of boarding/rooming houses in the urban core. It was an updated triplex in a historic building, converted to something like 18 individual rooms to rent out. These aren't flop houses, they're high end, fairly large rooms (maybe 200 SF) with shared living spaces. It definitely maximized rents and helped try to relieve the housing crunch. 

On the commercial (but it could be done for residential too), I think there's something to be said for the idea of building a modular container home community. Take advantage of economy of scale by doing a bunch off-site, shipping them in to be assembled and connected to utilities, and you're ready to go. Again, not as easy in real life, but the concept is easy enough. 

Those 3 are my .02 cents