All Forum Posts by: Eric Bilderback

systemize, network, chill

@Jay Hinrichs  My Sister that I saw over Christmas lived in PDX 2 years ago.  Her tiny apartment that her and her husband and little boy lived cost 850 a month.  It was a good location close in SE PDX.  So they turned it over to a friend they are now paying 1300.  Holly Smokes!  I would think that cannot last for to long.  

Bend is close to that bad I do property management here in Central Oregon and I just don’t how normal working folks get by with these rents.  I know Bend is cool but man you will never be able to climb up the ladder paying rents there unless you have a sizable income.

@MichaelTempel

Are you sub metering or are you doing a formula based the amount of tenets, bathrooms etc?  Considering this myself, if the tenet limits the water they use instead of just letting it run because they don’t have to pay then that seems like they can use less water and save money.  The podcast this week  said that you expect a 30% drop in the amount of water.  If that is true thats true it seems like you take 15% and they keep the other half everybody wins.  

@Brian C. is that consensus up there that it is at the top? Do you see it flattening or an actual softening? Here I have not seen any purchase that has seemed to egregious. But almost everything on MLS is a nonstarter.

I call them it is generally pretty easy to see who is motivated who is not.

I would look at ft. Hood, Benning, Knox.  Maybe Lewis as well.  I would think Hood being huge and in Texas is a good bet.  I like those markets better then most of the turnkey places anyway.  I think you might get more appreciation there.  

Hooh! 

This place has some issues nothing that frightens me except this foundation problem.  This is a very good deal for the area.  I put in an offer a few weeks back but lost out to someone else.  That buyer backed out and they want me to come back I feel like they are scared by this inspection report.  I am coming in with cash if I buy the place. This is a pretty small town the only contractor that would take this on is out of town and will not be able to give me an estimate until Jan 11th.  I don’t think I will have that long.  Here are the comments by the original buyers inspector that make me nervous; 

1) Exterior. Approximately 95% of the crawl space was not accessible due to the height between the bottom of the floor joists and the soil. This prevented a full inspection. Recommend creating passage ways between the concrete piers and concrete runners through out the area. 

2) Observed dry rot at the crawl space entrance, under the bathroom and kitchen areas. Observed beam and joist materials in direct contact with the soil. Recommend further evaluation and repairs. 

3) Concrete. Most of the walls were not visible due to accessibility.

4) Stem wall. The wall appeared to be 6" to 8" in height. Recommend a further evaluation.

This a duplex built in the 1930s and is approx 1100 sq ft.  Any opinions on how bad this is and how much it might cost would be greatly appreciated.

For anyone taking the time to help me out thank you and Merry Christmas to all.

Marc has some good advice. If I was being a wiseass I would say the best way to get properties is however you get them. I have tried everything including direct mail and calling them personally, MLS, etc. My best advice would be to have your criteria down and when you see something that hits be aggressive lock it up and close it (obviously you need to do your due diligence.

Speaking for myself I love getting presents from everybody!  The last twenty some years Santa hasn’t brought me squat even though I have been a model citizen!

I did wreaths last year we made them ourselves.  I was kicking myself it took about 3 nights plus getting the branches etc. out of the woods.  Maybe when my kids are old enough I can task them with it.  They were beautiful though, looked great hanging outside the doors.  And the tenets loved them.  I am going to do $10 subway G/C this year.  

I did read about a guy that did WI-FI at his apartments last year that is a pretty good idea.

Whats up Craig?  

I am putting in an offer on one in the next day or two. I have expanded my search to outside of Redmond (no more than a half an hour from the Redmond airport) as the prices appreciated about 18% last year. I will go ahead and attach a link of a BP rental I did for a 24 unit apartment complex in Redmond. I made some assumptions but generally I am pretty conservative when doing this. I have looked at each property that has come up on the market and the bigger the apartment complex the more the numbers work. It has been quite sometime since I have seen a small multi in Redmond on the MLS that has got me excited. But the between the airport and Bend blowing up the area is looking better and better. If you would like any contacts, contractor, lender, Real Estate Agent, let me know. FYI contractors are getting paid pretty good up here now days.  I do property management and you are looking between 8-10% for that.

       https://www.biggerpockets.com/calculators/shared/235561/e4118904-a87d-4afd-9ca6-b0c1f3a54e8e