I want to learn how to invest in real real estate.

[Patrick G.]

I would like to learn how to be a wise invester to the real estate market in Beaverton Oregon area. I lived here for 4 years and now I am looking for learn more about the housing market and renting market. Thank you!

[Melissa Hartvigsen]

Quote from @Chris Watkins:

Sorry for the acronyms, they just come out. With the large employers (Nike, Intel and others), the west side from Beaverton out to Hillsboro is a great place to invest if you have a long-term lens. 

As for STR/MTR vacancy rates, those can vary greatly depending on location. AirDNA is a good tool for looking into those specific areas and weighing the strengths. There may be some others on here with more experience in that specific area who can chime in.

I know @Melissa Hartvigsen invests herself in that area and works with investors in your neighborhood. I'd recommend connecting with her!

 Hi Patrick,

@Chris Watkins thanks for the shout out!

I have done Airbnb (short term rentals aka STR) and Midterm (aka MTR) in Beaverton.  I have two active MTR units in Beaverton.  Depending on your address you may fall into the city's jurisdiction which only allows short term rentals for 90days or less in a calendar year, or the unincorporated part of the county which does not have the restriction. For this reason, many locals do a hybrid of short and mid-term rentals. (Short term in the peak season <30day bookings, and mid term for the rest of the year >30bookings).

65% occupancy rate is common around the metro for Airbnb. Mid term is about 85% occupied. Long-term rental occupancy is 95%. Short term rental manager aka co-hosting fees are usually 20-30%, mid-term 17-25%, and long term property management fees are 8-10%.  You also have higher expenses with STR and MTR, you have all the utilities, furnishings, and consumables to account for as well.

Combining strategies with house hacking makes it easier to get to cash flow. I just helped a client purchase a cash flowing 4 plex in Portland. It isn't impossible to find a deal here, you have to get good at analyzing deals and be willing to put in work. Turnkey rentals in Oregon are harder to make work. Depending on your financial situation, negative cash flow for a couple of years may make sense (talk with your CPA).

The local REIA is a great spot to connect with other investors, there is one at Mazama Brewing every month in Orenco Station. You can also send me a DM if you want to do a deeper dive.

Cheers,

Melissa