All Forum Posts by: Chase Stewart

@Jonathan Stone and @Dave Skow, I work in Central Portland so I have primarily been looking in the east side of city proper; however, I have been slowly widening my search. Thanks for the tips, I have started to look into the screening and rent increase laws in Portland. Any other things I should be looking out for? Seems like when you are house hacking your primary residence, it is a bit easier to get out of some of the strict Portland landlord laws.

@Conner Olsen, are you referring to tenants on month-to-month leases? Or are you talking about having different tenants come and go each month, similar to short term rentals like Airbnb?

I live in Portland, OR, and am looking for my first house hack. My initial goal was to find a duplex or SFR to rent out so I could live for free. As I look more into the Portland metro area market, I am having trouble getting the preliminary numbers to work. When comparing the cost of homes with potential rents (using BiggerPockets rent estimator), I am struggling to find a place where the rental income can actually cover the mortgage, let alone have positive cash flow. The main properties in my price range are 4-bed SFR's where I could rent out the other three rooms, but I would still be paying a fair amount of the mortgage (as well as maintenance, capex, etc.). I am not sure how accurate the online rent estimators are, but before I talk with real estate agents I want to figure out if my expectations are too high.

Anyone who may have experience in the Portland market, is it usually difficult to find properties with decent cash flow? Are my expectations of finding a house where I can 'live for free' unrealistic, or do I just need to work harder to find the right deals? I have only been in Portland for about a year and a half, and this will be my first real estate purchase. Any insight or advice would greatly be appreciated! Thanks in advance.