All Forum Posts by: Austin Youmans

Why not just start raising the rent. It is a month to month so not too hard to get them out but in portland you will have to pay them to move basically. At that point, is it really worth it?

If you haven't bought it yet I think this would be apart of negotiations as it is not worth as much to you as something that has market rents.

Hey @Tyler Baltus, @Jessica Parker, @Benjamin Kirkpatrick, I am in the Vancouver market and it is a bit cheaper and don't get the portland landlord/tenant rules. 

I think the best first investment is to house hack ideally with a four-plex. 

I did this with my first investment although it was a duplex.

This way you are close to your property and can learn the ropes while living there plus you get the best financing if you live there for at least a year. Rent out the other units and bedrooms is your are single.

Let me know if you have any questions

Hey @Jessica Parker, Welcome to BP.

I am a local investor and realtor. no meet ups due to covid but REIA has a meeting normally.

What are your goals for investing?

Hi @Nathan Johnson,

I am a local investor and realtor if you want to meet up when you schedule calms down pm me and we can set something up.

Let me know if you have any questions in the mean time.

Hey @Jeremy Barren,

If you don't own a primary residence yet I would look for a 2-4 unit property and live in one of the units to take advantage of a low down payment. 

For future properties scaling up quickly more equity doesn't really help unless you pull it out. 

I would totally refinance the personal residence right now as rates are super low and this will allow you to have money to scale up more quickly.

Obviously looking for properties you can fix up and pull your money back out will also help. Look up the BRRR method if you haven't read about it yet.

I would say that Oregon is ok, I would just stay out of Portland. I actually own property in Salem as well so they both have their pros and cons but nothing you can't work around

Hi @Randall Priebe

@Randall PriebeSounds like your PM company has no incentive to fill the unit as they make more money not filling it. I don't know the area so it is hard to say but they is a crazy long time for a unit to be vacant if it is priced right.

If you know someone nearby I would have someone pretend to be a perspective tenant and go meet your PM and see what they think.

I would be marketing the unit online wherever you can and just put the contact info for your PM until it is filled.

I think you need some concrete answers from your PM on why it is not getting filled. I could be their fault or it could be bad assumptions about the property when it was bought. 

I would also start messaging any investors in this town to see who they use for a PM and ask them if they know your PM and how they operate. 

If none of that works I would just hire someone to show the unit and then vet the tenants from a distance. Not ideal but doable and then you know it is being done right and can ask for feedback from perspective tenants. 

Hi @Jeremy Barren & @Daniel K. Kim

I am an investor and realtor in the Vancouver market so I am partial to the Washington side of things. I personally would choose not to invest in Portland because they have more rules that are not landlord friendly. 

Let me know if you have any questions.

@Sierra Sonenrs Welcome to BP, there are a lot of good resources. If you are just starting out I think the calculators are a great help to run numbers until you get comfortable with it. 
let me know if you have any questions.

I used Stearns Lending but this has been years ago now.