All Forum Posts by: Bill Horton

@Chase Banta,

It will vary greatly depending on the location, and the specific landlord.  I just leased a 2,500SQ FT space to a new business in the Milwaukie area. The landlord did a credit, criminal and eviction check on the business owners. They needed financial statements showing funds to be able to make any renovations and pay rent for a specific period of time, not counting on business revenue. They also needed a simple business plan showing how and when the business would have sustainable revenue to be able to pay the rent. This lease required 2 months up front and a refundable security deposit that was equivalent to one month, if that gives you an idea of how much you'll need to pay. 

Credits for tenant improvements will vary greatly as well. If its an old space that needs work, you're likely to be able to negotiate something for your TI. If its a vanilla shell or very clean and open, you might be less likely to get any wiggle room on your TI. 

Rent rates vary greatly too, depending on what kind of building/location you're looking for. What area are you looking in right now? 

@Tyler Yontz, for Clackamas County, I've called or emailed the assessor with the parcel number and address. They email back quickly and will give you the info over the phone right away as well.

@Tyler Yontz, for Clackamas County, I've called or emailed the assessor with the parcel number and address. They email back quickly and will give you the info over the phone right away as well.

@Kevin D. if you're looking to buy in Indy, it would be worth your time to reach out to @Jeff Wallenius. He and his team at North Peak Investments are moving a lot of property over there and I know he is selling some too.  He is a wealth of knowledge and knows that market extremely well! 

@Ellizabeth Lee A good friend of mine does commercial lending in most states and is based in Oregon. I bet he can find something that will be a good fit for you. Send me a PM if you want his contact info!

I agree with Mathew Wray about Oregon City. It’s a great town with a lot of growth coming. There are a lot of historic homes down low, but you can find a good small multi there every now and then.

Welcome to BP! I would recommend looking in towns outside of the Portland metro area if you’re looking for cash flow.

Hey Joel Moore , check out Cascade NW Construction. They work all over the place and I cannot say enough great things about these folks. From the people, to the quality of work, they are top notch. They are building a house for me right now and are fantastic. http://www.cascadenwconstruction.com

Very nice!

@Rob Jones no worries on the delayed response, obviously I'm a little slow on here too! Luckily

@Kaytee Horton is a little more on top of it! Yeah, as she said, we are beginners. My family has an office building in Milwaukie, which our business is based out of. It had a pretty high vacancy when we took over managing it for my parents. It has been a great experience for us to renovate it and get it up to occupancy.  We plan on getting into more buy and hold, both office/retail and Multi-Family. We aren't really doing any marketing right now. In the past we have gone "driving for dollars" and have written letters to a few owners.  Had I been a little more prepared, I think I could have got some great deals from those contacts but wasn't able to close a deal. Good experience though and I think that will be the route we go again in the near future.

Are you doing any marketing right now? What area are you looking at?