All Forum Posts by: Randy Johnston

Hi @Pragya Singh, I have used Uptown Properties for my needs and found them to be reasonable and reliable.

I use Uptown Properties for my rentals. You can find out more on their website. Let me know what you think.

@Account Closed , Not sure how you conclude that a homeless person is the same as a terrorist.

@Jay Hinrichs As part owner of a grow operation. I'm finding that for indoor grow, the prices are in the $800 to $1500 (depending on the quality) a pound. The $400 a pound you quoted would probably be for a low-quality flower from an outdoor grow.

@Dennis Wasilewski You are correct, the dispensaries and extractors have seen more of a boon with the lower prices. For the most part, they are still getting the same price per gram as before, but are paying 50 - 60 percent less for the flower.

@Sandeep G. Here's a link to their websites . . .  Rarebird  and NorthwestREIA.

@Liz C. Welcome to BP. Be sure to check out everything available under the Education tab on the top menu, a lot of your answers will be answered there. 

Keep an eye out for any BP meet-ups in the Portland area where you can meet many local investors. I would also suggest that you check out the local Real Estate Investor groups, such as  Rarebird and Northwest REI.

Good luck.

@Steven Denio It's my understanding that on a lot zoned R5, you can only build a duplex on a corner lot. There's more information at https://www.portlandoregon.gov/bps/article/53295.

My partner and I have a property in SE Portland that is in the final stages of development for a duplex.

We purchased the property with the intention of rehabbing the home on the front end of the lot and then partitioning two additional lots behind the home that will be accessed from a dead-end street and not requiring a flag lot. The City of Portland decided that they wanted three feet of our lot for a pedestrian pass-through so we had to re-evaluate and decided that we would only partition one additional lot developed for a duplex.

My question; what makes more sense . . . to sell the house separately from the lot, or should we market both lots to investors to allow them to build a duplex and keep the front home as well?  Our current rental income is $1695/mo and the duplex should bring the same for each unit. The lease renewal is approaching and I understand that the property is more attractive with a signed year-long lease.

My problem with selling the house separately is finding an owner who would not be bothered by having a two-story duplex that overlooks their backyard. 

Thanks for any feedback you have to offer.

Randy Johnston

I would suggest that you schedule an early assistance meeting with the city to ensure that it's feasible. I also suggest that you take @Jay Hinrichs advice about hiring a civil engineering firm to work with the city, there will be a lot of hoops to jump through and a good firm will help immensely. 

Just my opinion, but the asking price seems close to or even above the ARV and that's before the land partition, the value will go down with another home on the lot. The land value, after you complete the development (build ready), would be in the $150k to $225k range.

@Account Closed

Not sure I'm following you here. The listing agent has a contract with the seller that includes a commission for the sale of their home. So, unless the parties agree to other arrangements in advance, the commission is paid from the proceeds of the sale, not from the buyer. There are situations, especially for off-market properties, where the buyer will agree to pay the commission to the broker/agent.