All Forum Posts by: Neal Collins

@Kevin Jorgensen What do you mean when the value jumped $75K in a week? Demand is still high in Portland, but we’ve seen a lot more price drops than we have in the past few years. This doesn’t pertain to the market cycle, but I definitely see purchasing power decreasing as the rates are inching up.

Beau Stumberg If you’re serious then we should talk.

Tim Zajicek do you know what is the motivation behind such a short term note? I’d go seller financing and see if they are open to a 10 year note.

@Alex Nelson I'm a big fan of getting the basics down on a local project and then seeing where your interests are at. Getting into a small fixer or multifamily and holding long enough to do a rehab/re-tenant and then exit on an exchange is a great way to get the ball rolling.

Maybe it is just endemic to our area Paige Kelsey. Not having your phone calls or offers responses to drives me insane. The larger companies may have the name recognition but they leave some serious meat on the bone when it comes to opportunity for a good broker with high customer service to enter.

Generally speaking much of the areas east of 205 are going to be seeing gentrification purely from the result of people looking for cheaper housing. Many people are also going north to the Washington side as well.

@Myka Artis This is exactly where we are at. Our system is geared at managing several hundred doors that are long-term. One airbnb unit that is not your focus or in your wheelhouse completely screws up this process. It's also something my team isn't ready for and I would like to travel more and not worry about an airbnb back home.

Looking forward to it @Mike Nuss. Anyone else in Portland going?

The Portland market has been very good to us and has provided a nice landscape to try out different real estate strategies and niches. One of these strategies was short term rentals. They provided killer cash flow and it wasn’t very difficult to oversee the system since we lived close and could be the backup if something needed attention.

Since then our business has grown substantially but evolved more towards acquiring, repositioning, and managing multi family properties—a mixture of Owner Operator and for outside clients. We scaled down the short term rentals simply because while not hard, that model seems to be more of a distraction now. We have kept a couple of them that are in dynamite east side locations, and we should be excited about going into full on tourist season, but we aren’t. With several companies and a handful of employees our time and focus simply isn’t there.

We have been discussing discontinuing the short term rentals. We haven’t pulled the trigger yet simply because the income that these generate can be so good. The other option is to not throw the baby out with the bath water and rent the units to others that want to continue the short term rental strategy.

I’m curious to know if anyone thinks that master leasing our remaining units would be attractive to someone either wanting to start their real estate career or expand their current short term rental operations. They are turnkey units with great reviews, in stellar locations, and each has legal permits.

Get the Tax ID number for the lot if it has been split or reference the geographic boundaries.