All Forum Posts by: Scott Pillar

Good morning Pynne! Welcome! This is great place to learn and pick up good advice. I agree with what has been said before, this is a good age to get into RE investing and "over" is a great place to start as long as you start!

I live in the valley now but was in Central Oregon for 20 years and my folks live in Redmond. Feel free to reach out if I can be of assistance! 

Thank you! I appreciate the assistance here! 

I am a 3 weeks out from closing on a residential property with a full basement that I plan to convert to dual living or short term rental. The home is early '60s in construction and has 9x9 tile (looks like Armstrong) in a portion of the basement. The tile is in good shape with very little wear and no cracking. 

My day job includes financial oversight of school facilities remodeling so I know enough to not "pull it" but rather "cover it" (may choose a wood laminate) but I have a few questions I am having trouble getting answered;

1) In schools we are required to create and maintain an Asbestos plan with includes the identification, containment and abatement processes for all of our buildings. This plan is a public document available for review at any time. While I do not need to disclose to my covered asbestos tiles to my friends shooting pool in my basement, do I need to disclose to a short term or long term renter?

2) On the (Oregon) property sale disclosure form, asbestos, specifically, is not mentioned. There is a section dealing with construction materials subject to recall, class action litigation etc. The current owners checked "unknown", which in my mind, seems a little suspicious. Does asbestos have to be disclosed at sale in Oregon and how have people dealt with non disclosures of such items?

3) Finally, going out in the weeds here a bit but I wonder if there is a market value depreciation when the place has asbestos? This is the oldest home I will (soon) own and the first with asbestos. I know it is safe and legal when not disturbed but would just the word "asbestos" drop the value of the home when I sell it 3 years from now?

Big thanks to this group! I don't post much but I do read this forum regularly and it has been incredibly helpful.

Im following thing thread as well! Thanks for any input you can provide. I appreciate everyone's time. 

Lots of good advice above, particularly with the AirBnB community. Getting my place "turned over" between guests is my biggest hassle/cost with more than one unscheduled day off to run out and back. Overall the experience has been positive though. 

Hi Mary! Welcome! Lot's of good stuff here!

Thanks Tim and Jay! I really enjoy it here. Thank you for reaching out!

Thanks Andrew!

I am a desk jocky in Silverton, Oregon who is in the process of buying my first investment property. I have a background in construction, more on the management and finance side, but I have pounded more than a few nails in my day.

I have always had a interest in Real Estate but have always put more energy into my family and career. I now have the time, and a few resources, to do something about my interest. 

Say hello, particularly if you are from Oregon. I have connections to all parts of Oregon and am always interested in what is going on in the state I love!