All Forum Posts by: Mathew Wray

Hello Anne!

Welcome to BP and the Portland Community! I think you'll find there is "plenty" of information to keep your enthusiasm going! 

Good luck and let us know if you have any questions!

Mathew

Hey Lesane, 

Sorry I'm late to the welcome-wagon...but welcome to BP! It's a great place to connect with folks and learn! 

Don't be afraid to ask questions!

Mathew

Hi Eric, 

I started investing during the last downturn, not before it, but from what I gather from my mentors who not only weathered the turn, but came out ahead was a focus on the fundamentals. The ones I model myself after were not aggressively over-leveraged and believed in the product location. 

Are Portland and Bend over-priced? Compared to what? Compared to the midwest and desert SW, then yes. Compared to any other major city on the west coast, then no. I continue to believe in the long-term draw of Portland and the viability of the economy. That doesn't mean I don't think there will be issues here, and we're getting cash-flow to help support the problems when they come, it just means that I believe Portland (and likely Bend) will continue to draw people-coming recession or no. 

I think you'll find a different answer, all passionately argued, from every person you ask. Which brings it back to you...what is your risk tolerance? What is your long-term goal for investing in real estate? Do you believe in the underlying wealth creation potential of real-estate? Are you a tortoise or a hare? 

Gold, Bitcoin, stocks, bonds, and investing in businesses, are all things people believe will help them generate wealth and protect against a down-turn. You just need to focus on the one or two that you can take action on today. Keep asking questions and narrowing down your goal and you'll find your avenue for weathering the coming storm. 

Good luck!

Hey Mykell, 

Nice to meet you and welcome to Bigger Pockets!

As Cassi said, the best thing you can do is to link up with one of the local groups. In fact, there's a meeting of the NWREIA tonight in SW Portland (https://www.northwestreia.com/)

Other than that, jump in and start reading and learning, listening to the podcast, and taking action!

Welcome!

It really depends on square footage and the number of units. 

I’ll also caution you to get references...like most things in life, you get what you pay for. No sense (in my opinion) arguing over $250 on a six-figure purchase price only to end up with the guy who cuts corners to make up for the lower price. I’m not saying to automatically go with the most expensive, I’m just saying if everyone else is in a 3-4K range and you find one at 1,500, there’s probably a reason so I’d make sure and ask to talk with last clients! 

Hey Jimmy!

Welcome to BP...It's a great community and we've got a strong Portland group. Don't be afraid to chime and ask questions! 

Mathew

Congratulations Eduardo! Would love to hear more about the property once you feel comfortable sharing!

I can recommend a couple of folks for you...

Balanced Inspections (http://balancedinspections.com/)are a great company with tons of experience. They've inspected small multifamily for me a couple times and have done plenty of inspections for our clients. If for some reason they're not able to help you out, they'll have recommendations for you. 

For Sewer Scope I often use Root Excavation or Alpha Environmental and have had good results with each of them. 

http://www.rootexcavation.net/

https://alphaenvironmental.net/

Hope that helps! 

Let me know if there is anything I can help with.

Good luck!

Here's an amazing opportunity to see inside both units of a vacant duplex in North Portland. Most multi-family properties require an accepted offer but here is your chance to come see the opportunity this duplex presents. The basement has 81" ceilings and could be finished to increase the value of rents. The duplex is zoned R1. 

Property will need work to get the top dollar rents that this neighborhood commands! 

My rough walk-through estimate (including contingency) is $25,000 to get the main floor ready, $38,000 to get the smaller upper unit ready, and another $15,000 for the exterior. 

Potential for third unit as inclusionary zoning changes are implemented in Portland-due diligence required!

11AM-1PM Saturday, 6/23

1023 N Jarrett

Portland, OR 97217

Welcome Eli!

Sounds like investing is in your blood! You'll do great! Portland can be a tough market, but that doesn't mean there isn't money to be made, especially if you're willing to put in the effort and live in your properties. 

Bigger Pockets is a great community and there is plenty of help and resources available to you. Don't be afraid to reach out if you feel like you're getting stuck or need a shove in the right direction! 

Best of luck!

Mathew 

Welcome to BP! What branch did you serve with? I spent 5 years with the Marine Corps. 

There’s a great community here who will help when you’ve got questions...best of luck!