All Forum Posts by: Mathew Wray

I second Oregon City! Just got voted one of the best main streets in America. You’ve got some great options to choose from, cheaper prices, increasing rents, and continuing appreciation potential. 

@Account Closed

Whatever you decide, you've got your tribe here! Take a vacation before you do anything!!

Neal, fantastic examples of what can be done here in town! Congratulations! 

I’m going to weather the storm. If it gets too bad, I’ll consider other options, including converting to condos and selling them for a profit. We’ve got options and at the end of it all, this will result in more demand and less housing. Nothing will change that.  

Hey @Chris Marie Henderson,

I used Dan Hayes and Real Property Management Solutions for years. They weee quick, reasonably priced, engaged, fair, and most importantly-they were always honest!

Let me know if you need an introduction!

Mathew

Thanks for sharing Jacob...and I'll echo that shout-out sentiment to Ambience Remodeling. @Daniel S McNabb does great work! 

Hey Roong, 

I think if you're looking to get ahead of the gentrification curve, you might be a little late to the party! :) 

Lents is really the big winner in my book. I'm surprised to hear myself say that because I didn't think it was going to happen, but mixed use residential is going up left and right down there. Foster/Powell continues to grow and have promise. I'm a little concerned about the future when Foster is reduced, but like others have pointed out in other forums, that really helped spur growth in other trendy areas. 

I think you could also look out towards Roseway and The Grotto-both are in the path of progress and starting to show signs. That's where starter buyers in that entry-level category are buying right now and they're going to be fixing their homes. Then they'll want coffee. Then beer. 

Also, I'm a big fan of Oregon City. It'd be a trek for you all the way out from Hillsboro, but I think OC is really taking off. 

Hope that helps! 

Good evening Cori!

Congrats on your impending move to Eugene! I know there are a number of investor agents on here besides myself, but I'd be happy to help you decipher what is realistic, meets your goals, and fulfills your future and current plans.

I'll send a PM for more details

Best, 

Mathew 

What a conundrum Dani! 

They gave you notice by telling you they didn't want to renew so I would think you are under no obligation to continue leasing to them and under no obligation to pay the relocation fee. You offered to continue leasing to them at the same rate and it was their choice to put in their notice. It wasn't due to any increase or no-cause eviction on your part. As I read it, you're safe to carry on with the new tenants. All that being said, I'm not a lawyer! 

Will you let us know what happens/what you decide? 

Hey Colin,

Welcome to Portland! it’s a rough cash flow market, that’s for sure. It’ll be even harder to find a property that makes sense at 3% down. But, you’re on the right track. You can find 3/2 and 3/1.5 in those areas for your budget. Ignore the total fixers (which won’t qualify for conventional) and focus on the liveable, but dated properties where you can add value and equity over time. Obviously, living with roommates will help defray costs. 

You can go east of the 205 just fine-you just need to watch the neighborhoods. Some are great. Some aren’t. The rental demographic can be totally different. As long as you’re aware, you can find a great property to start your portfolio. I was at a cosmetic fixer ranch yesterday that is exactly the kind of property to target.

Over time you’ll gain equity and have others paying down your debt. Then, once you’ve built up that equity, had others pay down your debt, and taken advantage of the tax benefits, you can exchange it for a property with 20% down and get cash flow. Or, hang on to it and just know that you may end up having to feed it for awhile while it continues to build for you. 

Let me know if I can be of any help or answer any questions. We’ve got a great community and they may have a different take. 

Best of luck!