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All Forum Posts by: Caleb Webster

Caleb Webster has started 18 posts and replied 112 times.

Post: Portland, OR rental market - Am I naive?

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Josh Gardner Anything can cashflow if you put enough down! Also, might get more responses if you post in the Portland, OR subforum ;) 

Post: Detached ADU - Determining Development Costs? - Portland, Oregon

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Steve Green The City of Portland is really trying to incentivize more ADU developments so they've extended the site development cost waiver indefinitely. This basically saves you around $35k in fees. Not too shabby. 

It's definitely more cost-effective to convert a basement or garage to an ADU since you won't have to deal with a lot of the big expenses that come with new construction (like pouring a foundation) but for detached new construction I'd you can reference this website to get an idea of cost. 

Post: Forgiving Criminal History and Lower Security Deposit

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Zach Davis No judgement here, I decided to jump straight in to long-distance investing in commercial properties in the Midwest and no regrets so far. It's almost like watching a train wreck with all the regulations being passed lately; since I have no skin in the game in Portland besides my own residence I'm fascinated with how this will all play out. 

Post: Advice on how not to lose your shirt with owner-paid utilities

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Joe Splitrock @Matthew Olszak @Mason Fiascone @Matthew Olszak @Scott Weaner @Dennis M. @Caleb Heimsoth @Dorothy Wulf @Ray Harrell 

Thanks for the insights guys, very helpful. We've already replaced all lights with LED and upgraded furnaces to more efficient units, looking to add the preset thermostats next. 

We are master leasing to a non-profit that sublets to people that were recently homeless and because of the way their grants are written the are unable to pay for utilities directly. I normally would never pay for utilities as a landlord but I want to support this non-profit while trying to save as much $$$ as possible. I'm wondering if it might be worthwhile to talk to each tenant individually and build some rapport, then kindly ask them if they can do their part to conserve utilities.

Post: Advice on how not to lose your shirt with owner-paid utilities

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

For rentals where the landlord pays all utilities, what strategies do you guys use to incentivize lower utility usage from your tenants and reduce your overall utility bill? 

I've heard of thermostats that you can restrict to a predetermined range. Are those legal? What is the approx. ROI on low flow faucets and toilets?

Assume in this scenario that utility bill-back is not an option. 

Post: Looking to connect in Portland

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Michael Hamilton Not sure if that's an open invite but I've been looking into doing a multifam development of that size and would love to see your project. Send me a PM with the details if that works for you!

Post: Lenders in Kansas City

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Jake Riordan Can you send me your Bank of the West contact? I'm an out of state investor too and got a refi coming up on a 12 unit. Thanks!

Post: "A" Overlay Zone Questions

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Sarah Thompson The 'A' overlay zone has been around for a while. This gives you bonus density of up to 50% when you submit plans to a type 2 design review with BDS. 

I've been following the RIP developments for the last few months and it looks like the final city council hearings are scheduled tentatively for September.  

The RIP project summary can be found here.

Post: Looking to connect in Portland

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Michael K. Let me know when you're in the area and we can grab coffee!

Post: Looking to connect in Portland

Caleb WebsterPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 117
  • Votes 59

@Michael K. I invest in multi family in the Kansas City, Mo market but also do the occasional flip in Portland. I spent a lot of time looking at Midwest markets and so far have been really happy with everything in KC. If you have any questions hit me up!