All Forum Posts by: Steve B.

@Jeff S

Yes that's the problem with the correct 1031's if you want a low maintenance syndication. All the low hanging fruit has shriveled up. No more Arizona retirement Homes or rehab, evict, and reclaim-rent apartments in Georgia at 10% ROI's. The syndications now are like 1.5% after you pay your syndication agent. Maybe @brian Burke or @joe fairless has have better options

@Jay Hinrichs

Jay even worse than crime and rent control for us small PDX SFR landlords is the city council new gestapo measures dictating who we can and cannot rent to. As soon as they start fining me for ignoring their nonsense I'm going to start 1031'ing my rentals. I have hope that now antifa-friendly Chloe Eudely got booted things may not get worse. Good thing you aren't a landlord anymore, good timing.

@Jim K.

Yes, we are definitely turning into an uncivilized, authoritarian, anti-constitution country in which the ends justify the means as long as you are “the good guys”

@Jim K.

There are way more renters that vote than landlords, that is the main reason. Also the banks have a strong and well financed lobbying group and give massive campaign donations. Landlord lobbying groups are mostly inept.

@Daniel Smyth. Everything you mention is either illegal or infeasible in Oregon. Most states, including Oregon, don’t just allow you to shut off the power on tenants.

@Tanya Krolicki

You are talking about "math" but your $300 a month net profit seems to be irrespective of the ARV of any houses you are referring to. So much for "math."

@Nathan G.

That’s exactly right. The end result of all these obstacles and regulations will be consolidation and regulatory capture by the very big players that have enough money and direct political influence to work around this nonsense and stay profitable. Endgame is more mom and pop’s are driven out of the rental business and renters will be paying more for less.

@Jeffery Wilen

That’s a very clever strategy! I’ll have to find a landlord tenant home sale swap buddy. Hopefully trustworthy.

At the end of the day all these restrictions are just gonna drive off many of us small landlords and then the rental market will be left to the big boys who will raise rents on all renters to make up for the increased rental default risk. These actions will just spread their loses over their huge rental pool at a higher price point so the net profit will end up being the same. Thus good renters are just going to end up subsidizing bad renters.

@Jay Hinrichs how can you not know Chloe Eudaly? She was the driving force behind turning Portland into one of the worst city’s for landlords almost singlehandedly during her time on city council. Her replacement, Mingus Mapps isn’t good but he was endorsed by all the landlord lobbyists only because, unlike Eudaly, his sole stated mission and effort wasn’t focused on bankrupting all landlords.

@James Hamling haranguing, educating, or eventually suing class B/C tenants for back rent from covid defaults isn’t realistic. Very few landlords are going to pay for legal fees chase down delinquent tenants in hopes of getting unpaid covid back rent. In most cases you are wasting time trying to get blood from a rock.

applying to the state for rental relief from defaulted tenants seems more realistic, but from what I see in the northwest the funds that will ostensibly be allocated by the states are anemic relative to projected outstanding rents.