All Forum Posts by: Ally Mager

@Andrew Bilis

If you don’t mind me clarifying, what do you mean by “1% rentals”? I’m assuming you’re referring to vacancy rates?

@Jeffrey Donis

Thank you for this information. Time consumption is not a worry of mine, as I understand that good deals take time and it’s been very educational for me, as I’m only 22.

We have a few realtors that we’re working with in specific areas, such as East Idaho, but are not wanting to partner into a deal with another investor.

@Peter Nikic

Yes, we’re willing to look into Nashville!

Central Texas and Idaho are our main 2 choices, but we’re looking at other areas we also. A red state with good Landlord-Tenant laws is a must though.

Here’s a few states that I’ve been looking at:

North Carolina

South Carolina

Texas

Idaho

Wyoming

Montana

Georgia (outside of Atlanta)

Mississippi

Alabama

Kentucky

Tennessee

South Dakota

Oklahoma (not preferred, but will go for right deal)

Arizona (not preferred, but will go for right deal)

Florida (not prefered, but will go to Northern FL for right deal)

Hello,

We’re looking to 1031 out of our properties here in Portland, but cannot find a property that we would like to transition into.

We have multiple offers on our properties, but will not sell/list until we have found the correct property to transition into due to not wanting to be under the strain of a 1031 time clock.

Over the last year we’ve been in contact with realtors throughout many states, and have been using LoopNet/Crexi, etc., My question is, what other search sources do you use to find property?

We’re looking for a property that fits the following criteria:

- Value between 18-28 million

- Located in a red state with good landlord-tenant laws (Texas and Idaho are our preference)

- If Texas, not near the boarder, San Antanio or Houston area. We self manage and do not want to live in those areas.

- One building, or 2 if very close together

- No student, affordable or high rise housing

- Built after 1980

I understand that we’re looking for a needle in the haystack given the current market conditions, but would appreciate any advice on other sources to look into!

Thank you😊

@Mary M.

You’re correct on the 80/20%. I was mixing a few different numbers in my head, my apologies.

While I agree with that there are certain people affected more heavily by the “pandemic” than others, I don’t believe that our government nor agencies have been any help in resolving the issues that we currently face.

Most of the small mom-pop landlords that we have spoken to in our area face large delinquencies that are not due to covid related hardships, but simply the residents not being “required” to pay rent. Many of these landlords are looking at, or have already, sold their rentals due to the fear of further non-payment. While some are being purchased by large investors, many others are being purchased by owner-occupies, thus taking a rental unit off the market for each of those occurrences. Oregon has a housing shortage, which will only continue to grow with the increase of “tenant friendly laws”, further difficulty for building, etc. This will only further increase rents.

To answer your last question, yes we have been in contact with the local associations, governing body, etc.. I wish the our local legislative would listen and work with landlords, but they’re only treating us as the “enemy”. Our associations are also not fighting for the small landlords as they use to when I was a young child.

We love our residents and do everything we can for them; however, the current governing body is making it difficult for us to run our business in a way that is both fair to the residents, as well as us.

@Karl B.

Yes there is a landlord compensation fund. Unfortunately, it’s very difficult to obtain, there’s only a 70% recaptured limit (you forgive the last 30%) and many other items that make it unreasonable. Luckily we only have 2 out of 104 units not paying, but have decided to opt out of the compensation fund.