All Forum Posts by: Randy Johnston

@Mimi Essie

I agree with @Michell P., there are many beautiful locations in the Pacific Northwest, but you're not going to find them online. It sounds a road trip is in your future.

I'm partial to the Portland Metro Area . . . my wife and I love walking around Downtown and the Pearl, as well as Northwest. I live on the West side and though the properties are not as expensive as close-in, it's still tough to cash-flow. But that said, vacancy rates in the Portland Metro are in the 2% - 3% range, so it'll be easy enough to find tenants.

@Markene Mathis, Welcome to BP, the place for learn all you need to know about real estate. You'll find mounds of information here.

I would also suggest the you join the two most active real estate groups in the Portland area, Rarebird and Northwest REIA. Their are plenty of seasoned investors that willingly share their experiences with new investors.

Good luck.

@Corey Westermann, I "hang my shingle" with Summa Real Estate Group. They are very friendly to brokers and have very low fees, which you only pay when you make a sale. PM me if you're interested. You can get more info at http://summarealty.com/join-us/.

@Cheryl Jones, I'm interested in Oregon real estate, but then again, I'm a Realtor as wall as an investor. :-) 

@Annette Bryante, You're right, the redemption period in Oregon is 180 days. Not sure why the other investor would do that unless he/she had a way to purchase the property. If you want to PM me the address and if you know the other investor's name, I can look into it a bit for you. One of the brokers in our office deals with bank owned properties almost exclusively, I will check with her to see if she has any thoughts on the situation.

@Darin Knight, Welcome to BP, you came to the right place for all your questions regarding real estate. I would also suggest that you check out the local real estate investor associations, Northwest REIA and Rarebird.

As for your question . . . the majority of investors with whom I discuss this topic, they're all about leveraging their properties so they can purchase additional properties, as long as they have positive cash-flow. Others are happy with what they have and are not looking to expand. It all comes down to your comfort level and goals for your investing strategy. 

If you'll have a similar payment after cashing out $100k, to me it seems like a slam dunk, as long as you have positive cash-flow and reserves for any unexpected surprises. And remember, your tenant will be paying the mortgage for you.

@Daniel Nebergall, Welcome to BP, it's a great community for pretty much everything involving real estate. 

I would also suggest that you check out the local real estate investment organizations in the Portland area. Northwest REIA and Rarebird are two that you can join . . . there are a lot of experienced investors going to these meetings, great places to learn and network.

The small paragraph you pulled out of that article seems contradictory in and of itself, but does not clearly state a landlord can deny a Section 8 applicant. If you read further down, there are more clarifying statements about a landlord dealing with a Section 8 applicant.

The way I read it . . . a landlord will not be forced to modify their criteria or lower the rent to accommodate Section 8. So, with all things being equal and a Section 8 applicant qualifies, based on the landlords criteria, then the landlord must rent to them, and the argument that they don't want to deal with the PHA and all the paperwork can no longer be used as an excuse to deny the application.

@Amanda H., Under the new law, you cannot refuse a Section 8 applicant, but you also do not have to change your criteria specifically for them. As long as you use the same criteria for all applicants, then you are good to go. One thing they do mention is that you cannot "opt-out" of the program just because you don't want to hassle with the paperwork. See the links below for more information.

Discrimination on Source of Funds FAQs

Section 8 Bill

@Tyler Nord

 Welcome to BP, you'll find some wonderful resources on this site. I would also suggest that you check out a couple of the local real estate groups. There are two really good ones, NorthwestREIA and Rarebird, they have some very seasoned investors who willingly share their knowledge and experience. Between the two, they have six or more meetings each month in the Portland area.