All Forum Posts by: Steve Moody

 Nope, you have to pay them moving fees. Just build it in to the costs and evict, or better yet have a contingency on closing that all units are vacant. 

@Kevin Callahan How close are you to this guy and his family? How do you feel about evicting him? If you're at all conflicted by serving him eviction papers I'd eliminate the rent-back option.  

Those models look pretty nice compared to some others I've seen. High ceilings, wide open plans. I think they'd make a great ADU for a STR or guest house.

http://www.honomobo.com

@Kelvin Lee Eudaly's ultimate goal is to overturn the ban on rent control. She's doing these little things to prepare for that. When all else fails (because these will fail to solve the rent problem) she'll have more ammo for passing rent control laws in Portland. Fortunately there's plenty of cities in the PDX metro area not affected by this. 

@Neal Collins I'm having a hard time believing that leaving on water for two hours made the cost go up that much. I'd contact the water company to see if maybe the meter reader is dyslexic and transposed a number.  

I read this on  

If the bill is usually $300 and it's now $3000, that's $2700 of extra water. Which is 640 ccf, which is 478,753 gallons of water. Do you really think the kitchen and bathroom would pump that much water out in 2 hours? 

Congrats @Melissa Dorman This gives me hope

@Jeff Wallenius 15% CoC in Oregon? I must be looking at the wrong places. I generally see 1-2% when I do my analysis, then get discouraged. Sometimes I see a deal that might get up to 5%, but that seems rare where the home values are going up 12% and rents going up 8-10%

@Joe Kim If you're currently making less than $200/hour you should stop what you're doing and become a PM. It sounds like a great business to be in. That's assuming they're pulling in that much money on a weekly basis at 40 hours per week 50 weeks a year. I'm not sure how many PMs are pulling in $400k/year, but if they are it's a good business. 

Don't forget to add in the additional cost of maintenance into your figures. Oil changes will be more frequent as mileage will rack up, and regularly scheduled maintenance windows will come up sooner (15, 30, 60k mile services). Tires will need to be replaced sooner, and the vehicle value will diminish faster. It might be hard to calculate these values based on the fact that you'll also be driving it outside of the Uber rides, but don't ignore them or your profit might turn out to be much lower than you anticipate. 

To be honest, pizza delivery guys often make more than Uber drivers depending on the location, and you can do that in any car you want. 

2010  Oh you said here, not when :) 

It would be in the Portland metro area, because that's where I live. If I needed to have high % cash flow, it would be the mid-west or the south, though probably not from across the country, and I have no immediate desire to move