Sell or Hold in Oregon

[Ciarraghe G.]

With the current pending legislation on the docket to declare all property in Oregon no longer private at the whim of the Governor's emergency declaration, should I hold my properties or sell and move to another state that isn't outright announcing they plan to take everything and redistribute whenever they see fit, with no compensation? 

I have a very high cash flowing property with ~65% equity and an excellent long term tenant who wants to stay for at least 5 more years, another on large acreage that breaks even with close to 50% equity (the investment value of that one is in the land/Timber, not the rental, good tenants though with stable incomes) and lastly the one I live in with ~40% equity that I am using as a house hack for BRRR.

Things I'm also considering instead of liquidating- are there legal/structural things that could be done as protective measures? How do you protect your assets in this hostile environment coming like a freight train? 

I'm trying not to freak out about it, but it's getting harder every day as this pending Socialist takeover is looming. Not sure if anyone else is equally freaked out, or even aware of it. 

[Tanner Ueland]

Hey Ciarragne,

I assume you are talking about House Bill 2238, in which I understand where you are coming from, but I doubt handing over your property to the government is ever going to come to fruition.  In my opinion, It allows the governor (for example) to order someone hoarding medical supplies to turn them over, something the federal government can do anyway, and unless you have 2 million masks, it probably won't happen.

It gives the governor the ability to direct resources to needing communities without a state congress vote during the emergency, letting us move vaccines to counties that are having high infection rates.

And, it limits the powers given to "within the scope of emergency management" meaning the powers can ONLY apply to the emergency that has been declared.

Just my 2 cents on that proposed bill. This type of stuff comes before the house a lot of the time and rarely even makes it to the floor to vote.