All Forum Posts by: Mike Nuss

Affordable Innovation: Radical Strategies for Constructing Detached ADUs that Pencil

Speaker: Patrick Quinton of Dweller

Join the RareBird Investor Network for our March 2019 meeting and first presentation in the Real Estate Disruptor Series - Patrick Quinton will share his pioneering business model that is making ADUs more attainable. Formerly the executive director of the Portland Development Commission (now Prosper Portland), Patrick’s insider knowledge about Portland politics and the housing crisis along with his insight into the construction industry and its shortfalls, have informed his creative solution for building turnkey, low-cost, urban ADUs.

Discover how Patrick is shaking up the ADU industry and how you can dare to disrupt!

NEW LOCATION - THE EVERGREEN - 618 SE ALDER ST, PORTLAND, OR 97214

Networking begins at 6 PM! Presentation starts at 7 PM!

Your first beer is on the house thanks to our March sponsor. Additional drinks will be available at our cash bar. Food can be ordered before the meeting downstairs at Loyal Legion. Place your food order at the Loyal Legion Bar, head upstairs to check in, and the staff will bring your food to you upstairs.

New to the Investor Network? Come and check out a meeting, your first time is always FREE! OR Join Here!

The residential real estate market is shifting. Adjustments need to be made, but opportunities are still abundant. Join us on Thursday, March 7 at 9 AM for our master class: Drivers of Supply & Demand, and arm yourself with the knowledge to help you take advantage of this emerging landscape. Noah Blanton, President & Market Leader of WFG National Title OR/WA will be discussing factors that drive supply and demand in the Portland and Vancouver markets. With careful study of both past and present market trends and fluctuations, Noah will interpret hyper-local market data and give concrete examples of strategies that can be implemented into your business.

CE Certificates are available for licensed attendees.

Space is limited, so please RSVP using the link here: http://rarebirdinvestors.com/masterclass/

**This event is for RareBird Investor Network members only**

New to the Investor Network? Come and check out a meeting, your first time is always FREE! OR Join Here: https://rarebirdinvestors.com/join/

Join the RareBird Investor Network on Thursday, February 21 at 9 AM for a Master Class by Melissa Wright of STR Permits. The Short Term Rental market in Portland is about to dramatically shift, which means there's a great opportunity for those who are prepared.

A lawsuit between the City of Portland, Airbnb and Homeaway has recently come to the agreement in which those booking platforms will divulge all host addresses to the City of Portland for enforcement; this will include fines starting at $1000 that quickly double and triple until settled. Currently only 20% of all Portland Airbnb hosts have obtained their permit to legally to operate their “home-sharing” business. In Spring of 2019 the unpermitted 80% will need to become compliant or be shut down. Hundreds of these properties will be unable to obtain the proper permitting which will allow those who are in compliance to charge more for their bookings and see their number of bookings skyrocket. This is a massive opportunity for investors who can get their hands on the right properties.

In this Master Class we will be discussing how you can become an ally for short term rental investors and how you can capitalize on this booming industry.  

CE Certificates are available for licensed attendees.

Space is limited, so please RSVP using the link here: http://rarebirdinvestors.com/masterclass/

**This event is for RareBird Investor Network members only**

New to the Investor Network? Come and check out a meeting, your first time is always FREE! OR Join Here: https://rarebirdinvestors.com/join/

It's kinda of sad how much fear has over run this thread. There's also quite a few "mistruths" being spewed out. I suggest, if you're an Oregon or Portland landlord (or desire to be), to actually read whats being proposed. I'm not a proponent of rent control by any means, but I've read the bill thoroughly. Everything I'm currently doing as an investor, can still be done when proposed regulations pass. 

There is opportunity in any change that is made. Great investors research and dig for those opportunities. 

If the "Oregon rent control" threads are an indicator of my competition's thought process.....I'm actually excited for the change as there will be more opportunities to invest while fearful mindsets are making rushed/irrational decisions. 

@Elizabeth Lee who knows where your blueprints may be. However, you can hire a drafter or architect (more expensive) to draw up "as builts" that can be used. If you have them create a site plan, it obviously won't be accurate as a survey, but you'll have drawings you can use for what you need. 

Let me know if you want a referral.....I have a great cost effective drafter that can help. 

Thanks, 

Mike

@Micah Shelton I don't think it's a side lot issue....it still has plenty of useable yard space and as @Lisa Thoele mentioned it seems functional in pics. I don't know that I would spend $ on that necessarily either. The remodel looks great, but honestly it's probably a pricing issue. I could be way off base here, but $389K has to be one of the highest sales ever for that part of town. Again, I could be way off base, as I don't know that neighborhood well, but it seems like price to me. I looked at a flip in that about this time last year and I was in the low to mid 300's for an ARV.

Are there other flips in the area that have sold for around 400K. Specifically east of I-205, between Powell and foster and west of 122nd. 

@Micah Shelton how big is the lot? Is it just a "side lot" problem or a small/no lot problem? Answering that questions would be my thought process on whether to do the fence or not. 

Exactly @Jay Hinrichs....

@Jay Hinrichs non refundable pet fees are not allowed in Oregon. Pet deposits and pet rent are....at least in the short term apparently. 

Hello fellow Portland-Area BP'ers, 

New year, new networking opportunity! Join us for a drink or two and get to know other investors in the Portland community! Whether you've been doing this for years or just starting, we hope you'll join us for a happy hour on Thursday, February 21st from 5 to 7 PM at the RareBird Office. No presentation at this meet-up - it's just a chance to network, and enjoy some beer, wine, and light snacks!

Looking forward to seeing you all soon!