Why not do Multifamily Syndication in the Portland area?

[Eric Berkner]

I live in the portland metro area, all my RE connections are already established. I am now looking for a small mutifamily deal, 4-20 units. It seems all the big players and gurus won't even look at a state like oregon to invest in b/c it is not landlord friendly. But because of that, it seems like there may be some great deals to find b/c of less competition? Mainly Value Ad. Cap rates here are 4.5-5.5%ish, what are your thoughts of doing my first deal here in my backyard vs. going to a landlord friendly state like every other investor out there? 

[Trent Werner]

Eric,

I am a born and raised in Portland, OR and own 10 rental units here myself. Portland definitely has some "strict" landlord- tenant laws, but I am a huge fan of the Portland Metro area for investment real estate regardless of the laws that we have here. Portland is a "hybrid" market because you can still find deals that will produce positive cash flow and still get to benefit off the great appreciation that we have here! If you are weary of the landlord-tenant laws, I recommend having a property management company do the daily activities so you do not have to spend hours trying to keep up with the rules and regulations that are constantly changing here.

As a small multifamily owner myself, I highly recommend finding a deal in the Portland Metro area.