All Forum Posts by: Chase Wippert

 I've got an off market property in SE Portland (123rd and holgate) that consists of a duplex built in 1997 and a single family home with furnished detached garage area. New roofs being put on and gutters installed on the single house. Could be a great value add property. Rental income is currently at $4300 with room to increase. 

Duplex:

$1550 on one side with all new carpets installed and a new walkup deck entrance built

$1100 on the other (can be raised)

House: $1200 and Studio apartment $450 ( can be raised)

Expenses avg around $450 a month (water, trash) 

Let me know if your in the market and would like more details 503-307-0760 *Price is 550k* 

Liz, 

I have had great success with the Irwin group here in Lake oswego at finance of america 

@Austin Irwin They have some very favorable rates/ loan programs for multifamily properties. Let me know if you would like more info or contact Austin directly. Cheers! 

Alexander, 

Yes a great RE lawyer is over PDX legal solutions, tell Henry Rau that I sent you his way. Thanks! 

Jacob, 

I recently worked with a client and he bought a property on SE 84th and lafayette that had an 800 sq ft detached garage. Cost him around 35k total, All permitting done with the city/ connect the sewer line from the main to the ADU/ and all electrical done. These were the biggest expenses for him. Let me know if you have any questions or would like to see the excel sheet for all the costs associated with the conversion.

Chase

Sergey, 

I think there is an argument for both sides here! Fortunately your in a great spot and bought at a time when the duplex can cash flow like it is with rising rents.. With that being said, it may depend on what your goals are? If you plan on being a more active investor than you may want to sell the duplex and 1031 the proceeds into more deals. If you are preparing for the long game and would like the cash flow to continue for years to come than holding on to it will have advantages as well. 

Cheers! 

Hey John,

Just saw this post and have to say that I have had only great experience with Henry Rau at PDX legal solutions. Im sure they will be able to take care of all your needs. Best of luck. 

Chase

Jesse,

That would be great if you could add me to your mailing list: [email protected]

Thanks 

Keith, 

Give "Living at home services" a call, there minimum right now is full baths because of the demand 

Let me know if you aren't able to get a hold of them, Best of luck! 

Wow @Jay Hinrichs been driving past this property everyday for the past few months wondering who took on this demo project! I am amazed at all the different things they were able to cram into that house because of how shaded off it was from trees/ bushes.. but still right on the corner of a busy intersection. Are the lots still available? 

@Mike Flatow 

I received a BS in Economics as well and a minor in Real estate development. I have decided that I learned more useful/practical things in my 5-10 Real estate classes than in all of the 4 years studying economics... lol