All Forum Posts by: Mathew Wray

Hey George,

Welcome to Portkand! I think you’ll find there are a couple of us here on the forums that own rentals, invest, and understand the market. 

I’d love to connect and see how I can help you, or who I can recommend you to if I’m not able to help.

I’ll send you a message to get going

Again, welcome to Portland! 

Mathew

Hey Alison, 

Sorry to hear that your property property hasn't sold in 5 months. That's definitely unusual for most properties in our area. 

If you want to investigate PMs in our area, I'd start with Dan Hayes at Real Property Management Solutions. He managed my properties for a couple years. 

Hope that helps as a starting point...if you have more questions, shoot me a message, email, or phone call. 

Good luck!

Mathew

Hello Whitney, 

I think everyone has hit the nail on the head about getting started. The training to get your license is state mandated and going to be about the same. Get a discount from whatever brokerage you're going to affiliate with after you have your license. 

I know Keller Williams has a discount with OnlineEd (send me a message for more info). 

The best use of your time (in my opinion) is to check out and start interviewing the different brokerages. I'd be happy to set you up a time to come chat about KW and I'm sure the folks at Premiere will do the same. I know I talked with Remax, Living Room, Hasson Company, Windermere, etc. before I settled on Keller Williams. 

Best of luck and please reach out if you have any questions!

Mathew

Hey Grant,

There was just a thread I saw in the last week or two with a guy moving to Portland looking for handyman work. If you search, it’ll probably turn up quickly. 

I see your point about working for this investor as a way to learn and potentially have conversations about acquiring his properties later. And, I also see the argument against driving all over for him, especially since you’re not already on the east side. But, maybe there’s a middle ground. Maybe you offer to help for a month or two and fill in the gaps until you can help him find and vet a handyman? This way you’re providing value beyond just your mechanical skills and you’re keeping the relationship alive. 

Good luck!

Mathew

Hey Perry, 

Welcome to Bigger Pockets. A great place to start is to introduce yourself and let us know what kind of networking and what kind of investor you're looking for. 

Tomorrow evening there is a NWREIA meeting where you may have a good opportunity to observe and meet a few folks-in the meantime, don't be shy, let us know who you are!

Mathew

I agree with John. Define what you’re looking to get out of real estate before you decide on any course of action. 

If your goal is massive growth-then get the money out through refinancing. If your goal is security and a retirement asset, then I'd consider leaving it as it is (if you can weather the coming Capex and any breaks in cash flow). In ten years, will you look back and kick yourself for letting the property go/re-starting the clock? Or will you look at it as a learning experience? What happens to the returns if you stop self-managing and are you okay with that as you scale or would you prefer to stay small and local?

You’re the only one with those answers. 

Hope that helps, let us know what you decide! 

Hey Andrew, 

Welcome to BP! Sounds like you’re on your way! Where are the micro units? I’m really interested in seeing how this idea continues to play out against the backdrop of Portland’s housing issues. 

I think you’ll find lots of great connections here, don’t be afraid to ask questions...

One word of caution, do your due diligence before putting any money towards AirBnB in Portland. The city has some real specific rules about operating them and they’re not really investor friendly. Those that navigate it can make a ton of money, just prepare yourself for a few hurdles!! 

Good luck!

Mathew 

Hi Surenda, 

I'm not sure about the backdating and Jason is clearly the expert there! What I do know is that one of the many, many things signed by a buyer at closing is an agreement to keep the property insured and authorizing mortgage companies to put insurance in place and bill the owner-and those rates aren't cheap. This is one of the key papers we explain to our clients while we're closing with them. 

As for the why, I can see your point of view that nothing happened, so why does it matter. If I switch hats and put myself in the insurer's shoes, I can see their points. One, you agreed to it. Two, just because there haven't been any claims now doesn't mean that someone didn't slip and fall during that time and just hasn't brought it up yet. Unlikely, but possible. 

I know that probably isn't the answer you're looking for. 

Best of luck!

Mathew

Welcome to the site Christopher!

Sounds like you've been doing a lot of research and are looking for how to take the next step. Renting out your current place and house hacking your way into another is a great way to start building your portfolio. 

Keep asking questions, reading posts, and listening to podcasts!

Also, check out a few of the local real estate investor groups. 

Good luck!

Hey Matthew, 

Welcome to BP! Nice to see another Portland native on here (even if I'm late to the welcoming party!). 

Congrats on your home purchase and for exploring real estate investing in the Portland area! Like Jay said, there are some great local investor groups out here. 

Good luck!