Fastest growing Cities in the US.

[Frankie Lesowske]

According to the U.S. Census Bureau from 1APR2010 to 1JULY2018 Bend-Redmond grew by 27.3%. That mean on average about 12 people are moving to Bend every day making it one of the most popular cities to move to in the US.

After reading Long-Distance Real Estate Investing by "David Greene," I have realized that investing in Bend-Redmond might be a great move.

The unaffordability in most places of California is pushing more people to expand up to Oregon and East to places like Las Vegas which has also seen a significant increase in population growth. 

Bend, Redmond, Sunriver, Prineville, and Sisters make up most of Central Oregon. As bend keeps growing people are expanding outwards to the smaller towns around Bend such as Redmond and Sunriver. 

There is great potential in Central Oregon for real estate and job growth. Yes Bend is not the cheapest. The median home value in Bend is $462,050. On a $400,000 duplex, with 2 rooms on each side you can still come within .8 to 1 percent of the rents equal to the purchase price (1% rule). According to Zillow home prices increased by 3.8% last year and have a forecast to grow by 3.6% in the coming year. 

In my opinion Central Oregon has the opportunity to cash flow and has a ton of room for appreciation. Not only do the numbers work but Bend is right next to the mountain and the Deschutes river. I see a very positive outlook for Bend in the near future.

Those are just a couple important things to know and there are a lot more. I grew up in Bend my whole life and know the ins and outs. I hope that this information was helpful. If you are looking to move to Bend or invest there I would love to help.

Also I am currently looking to buy a multifamily property as a rental. If there are any locals that would like to connect I would be more than happy to get together!

Thanks,

Frank Lesowske.

[Tim Wade]

Hi Frank,

I'm a real estate agent and investor here in OR.  I live on the west side in McMinnville.  I'm centered here for now but think I'll be moving into Portland within the year.  I invest in McMinnville because we renovate older homes with character and do vacation rentals.  Our business is focused on the wine industry that runs up and down the Willamette Valley.  We've focused and created a little niche for ourselves.

I mention this only to say, it depends what you are wanting to do with the properties as to whether Bend is a good area or not.  Knowing what I do about the tourism over there, I think you might have better luck at vacation rentals.  I have found that because of our relatively high purchase prices in OR, it is hard to get the same cap rates as other areas.  And yet, rents are not that much higher when you get out of Portland metro.  The other great thing about vacation rentals is that it takes rent control and tenant laws out of the equation as those laws don't apply to vacation rental properties.

To be sure, there are plenty of other laws that do effect you as an investor if you go this route.

If you'd be interested in a conversation, I'd be happy to tell you more about what we do and why.  Depending on your interest, we could always talk about working together somehow too.

Best of luck!  I've only been in Real Estate investing and sales for about 3 years now and it has totally changed my life.  It's a wild, fun ride!

Cheers,

Tim