All Forum Posts by: Benjamin Kirkpatrick

@Lara Nicole Since I am not currently investing in the area, I cannot offer any real data to back up my opinion. Still, just my two cents: I see the demand and appreciation for SFH steadily increasing in the future. Like others have mentioned, Portland is located in an interesting region geographically, between several major west coast cities: Seattle, San Francisco, and LA.

Regardless of the wacky laws and lack of law enforcement, people will still want to move here. The kind of people attracted by those stipulations is a whole other conversation. Not to get political, but many of the things you mentioned (homelessness, increase in crime, and the overall lawlessness) can be traced back to the people running the show here in Portland, who are voted in by people who live here. So, in my opinion, these things kind of feed off each other.

I personally moved to Portland because I, like many others, appreciate the natural beauty and landscape of the PNW. I want to be within arms reach of the beach, mountains, and forest. However, I came to learn very quickly that there is a lot of pros and cons to living and/or investing here.

With that being said, I cannot see myself staying here long-term; however, I do see Portland increasing in value and appreciation over the next several years. As others have mentioned, Portland is surrounded by protected land, so we really do not have an opportunity to continue sprawling outward like LA. Portland is also a unique location that tons of people will continue to visit (at least I hope so).

Investing in the suburbs surrounding Portland may be your best bet (Gresham, Tigard, Beaverton, etc.) since these locations tend to attract a different crowd than the downtown crowd if you know what I’m saying. Brandon Turner said on one of his webinars that he always asks himself before investing in a specific location if he feels comfortable with his wife running alone outside at night. The point being, would you feel safe walking around the neighborhood you’re about to invest in at night by yourself?

I hope this can provide you with another perspective. Again, just my two cents!

-Ben

Hi everyone,

I wanted to introduce myself since I recently joined the group. I am local in the Portland area and am looking to get involved with wholesaling and investing in real estate in Portland/surrounding areas. 

Although I'm a rookie, I'm a quick learner, and I am happy to help with anything you need. I want to learn and get some real hands-on experience and provide as much value as possible to local investors.

Please feel free to DM me if you have a project you're working on and wouldn't mind me tagging along or if you need help with anything!

Thanks,

Ben

Just came across this event. I look forward to attending! Thanks for setting it up :)

@Matthew Powell Yikes. Doesn't sound too appealing. What makes people stay here then, you think? Surely, there must be deals to had one way or another.

What kind of change do you foresee in the future of Portland/surrounding areas? Economically, financially, etc. 

I ask because I've only been here a year, and I see apartment buildings popping up left and right. Must be enough demand if they're being built like mad. 

Also, just my opinion, but Portland really is an interesting place. Lovely neighborhoods and quaint boutique shops and whatnot, but tons of dumpster-diving and filth everywhere. I don't know if I could see being here long term, or raising a family here, when you have lovely folks rummaging through your trash bins and abandoning shopping carts across town. 

Oh, and you cannot forget the wonderful art (AKA graffiti) displayed upon nearly every building, street sign, and telephone pole. :-)

@Brad Hammond I see. In your opinion, how feasible is house-hacking in the Portland market for a first-time homebuyer/wannabe investor?

@Aaron Hollingshead 

That's nuts. I'm not familiar with the tenant laws here myself, so it's crazy to hear that you can't even ask tenants whether or not they plan on paying their rent. Granted, times are hard for everyone, but having some communication would be ideal.

Also, is it true that you must pay $$ for tenants to relocate, once being evicted?

All this is useful for me since I am looking into purchasing a house hack in the near future. Currently learning as much as possible and researching options in Portland.

@Tyler Baltus - nice to (virtually) meet you! I don't have any specific insight into your question, but I am basically in the same boat as you. Looking to invest and build wealth thru real estate investing in the Portland, OR market.

Wow, thank you everyone for the responses! I definitely need to get on here more often (especially after I start a discussion and create a thread, haha). 

Anyway, I'm not quite sure how to reply to each one of you individually, so here goes:

@Mark H. Porter - Thanks for the insight! Ideally, multifamily would be my preferred method. Live in one unit, rent out the other 2 or 3. 

@Robert Bowles - Yep, that's what I'm working around right now. Doesn't help that my military service and part-time work doesn't necessarily coincide with my current field of study. Ideally, I'd like to transition into a job that ties in with my degree so that way I can then combine the education + work experience for a total of 2 years to qualify.

@Chad Duncan - Wow, I'd love to hear how you were able to make everything work. I actually applied for disability and have an appointment scheduled next month (I also wouldn't mind some advice on that process too, haha!) As far as the ADU's go, I have been reading a little about them, but don't know too much. I'll definitely do some more research.

@Daniel K. Kim - What a small world! I'm actually going to PSU as well. I'll go ahead and shoot you a message!

@Joseph Crunkilton - Yes! I am not 100% committed to Portland, and have actually been looking at different areas to move to after college. This is just where I'm at on the map right now. As far as investing out-of-state goes, I'd have to read up a bit on it, but it also seems like a feasible option (plus I'm sure there's tons of resources here/online for that).

Again, thanks everyone for your responses! I truly appreciate it.

-Ben

Hello all,

Just wanted to post on here to get some feedback from the community.

So, I'm currently living in Portland, OR and attending school full-time using the G.I. Bill. I receive a monthly housing allowance (which technically doesn't count as earned income) and am working part-time.

My goal is to purchase a property within the next year or less (preferably multifamily or single-family) using the VA Loan. Ideally, I'd like to implement the BRRRR strategy or house-hack to live for free (or as little as possible) throughout college. Then, as time progresses, purchase another property and so on.

Anyhow, my original plan of applying for the traditional VA loan isn't quite feasible, since my housing allowance doesn't count as earned income.

I'm just curious, what would you do in this situation?

I've considered getting a full-time job in order to have proof of income for loan approval purposes, or utilizing an FHA loan or some other strategy to get into the game. Likewise, I've thought about teaming up with a friend to pool money together for a down payment, but that could take awhile.

P.S. If anyone is in the Portland market/surrounding area, I'd love to get to know you and help out any way possible. Just looking to provide value and connect with like-minded individuals!

Thanks in advance,

Ben