All Forum Posts by: Ben Rezac

 yes but 30+ day rentals. STRs are restricted in that area.

I would love to hear from some of you who have successfully house hacked in Portland. How did you go about making it pencil? With interest rates and prices on 2-4 unit properties, its tough to get most of your mortgage covered if you are only putting 3.5% down with an FHA. I would love to hear some creative ways others have made this work. For example... converting a SFH into multiple units.

And if you aren't in Portland, I would still love to hear how you have gotten creative.

Hey! This website was featured in the On the Market Podcast episode 15. I think you may find it to be helpful!

Stats America

Welcome to BP! Make sure to look up Joe Asamoah out there in DC. If you haven't listen to Podcast 356 with Joe. It's so good. I remember exactly where I was when I listened to it. 

Welcome to BP! 

I agree with Matthew... listen to as many of the podcasts as you can. And make sure your talk to your principal broker before you get into wholesaling. you can get in big trouble out here in Oregon if you have a real estate license and wholesale.

Welcome to BP! Who are you working with? 

Welcome!! What type of house hack are you thinking? Buying a big house and filling up the rooms with roommates? Small multi-family (1-4 units), or -my favorite- converting a single family home into two units by converting a basement or some other creative avenue?

Question for you... do you know if your loan is assumable? Meaning, the buyer of you condo can, for lack of a better term, "take over your payments." They would need enough cash to to buy out your equity, but it could be something to look into. Your agent can help you out with that, or let me know and I can help as well. I am a BP Featured Agent here in Portland and I specialize in house hacking. 

And maybe look for a single family home that your can convert to two units. Duplexes usually come with at least one set of tenants and you don't want to inherit someones headaches...

DM me and I will send you some properties that would work well.

 As everyone is saying, check local laws... but, for my first house hack, I just made it simple... I lived in the small unit, and it was just me. My tenants had the larger unit and there was two of them. They paid 2/3s of the utilities each month. 

Don't sweat the small stuff. Just enjoy the excitement of getting the house! Congratulations!!!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000
Cash invested: $40,000

Purchased SFR, split the lot and sold it. Holding home as rental.