Bend, Oregon Investment Thesis

[Brian Bellew]

I own three single family rentals in Bend, Oregon that all cash flow pretty well and have good equity positions.  Bought in 2010, 2012 and 2013.  I now live in Denver but have strong convictions about growth in Bend.  Any other investors with knowledge of Bend that can see this becoming a Boulder or Austin?

Some notes on the area:

-Consistently in the top 10 counties in the US for population migration (Deschutes).

-Oregon State Cascades is building a new 4 year university with anticipated 5,000 students.  The university currently owns 56 Acres of land on the West side of Bend and building started summer 2015.

-Growing technology scene, microbreweries going national (10 Barrel and Deschutes)

-Rental vacancy rate around 1%

-Limited availability of vacant land due to local governments inability to agree on a new Urban Growth Boundary.

-Mt Bachelor expanding by investing in new lifts, and summer mountain biking.

-Located between San Francisco and Seattle (Tech hubs of the West Coast).