All Forum Posts by: Dan Z.

I am not a HML per se I dont loan money I am a capital partner we work basically the same way but our fee's are going to be a few grand higher per deal.. but for my best clients who I do 10 to 40 deals a year for year in year out.. its 100% of everything with no payments and I pay the insurance. So it allows them to scale much more rapidly than if they need down payment money for points closing costs make monthly payments etc.. But they need to be very experienced and can do some volume.

Jay you'll not believe this but I recently started my new PML business that I do everything you mentioned here as a second position gap lender, with points and rates higher than HML who's on 1st... I know I'm stupid I should have asked for equity but my borrowers all love me and my new business is booming.
BTW I'm still buying apartments that's why all my loans are short-term 6-8 months cuz I need the dry powder when a deal comes up, and I'm 1-2 transactions away from 100 units owned in PNW which I want to reach sooooo bad

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Thanks for the shout out @Michele Fischer I agree OR laws are more strict than WA, but I'm afraid WA is trying its hardest to become as bad lol...

@Brandon Nguyen Vancouver still has lots of appreciation potential so you'll definitely benefit by owning there long term.

1 Vote

Vancouver, Washington

Quote from @Bjorn Ahlblad:

I am retired and earn 10k/mo from my remaining 14 doors. Make sure they are easily accessible and take advantage of REI pro. REI pro is huge, as is a state with no income tax, that was goodbye California! I almost feel guilty with how little tax we pay but dealing with it!

I was in the similar thought camp, until I had been 2 years without deal, and all my accelerated depreciation from my portfolio ran out... Now I'm actually paying more tax, so I need to buy another bigger building ASAP to make my REP status worth its name lol...

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Quote from @Jay Hinrichs:

Quote from @Christie Gahan:

Quote from @Mike Nuss:

@Account Closed are you planning on doing this in Marion County? My first thought is 250k for that size of a unit + the brain damage just doesn't make sense. I'm not one to throw negatives at an idea...but a larger more widely accepted stick built apartment is 250K/unit for hard costs. Site development is most likely easier and permitting significantly easier. That being said, definitely not as cool as what you want to do.

@Jay Hinrichs what's your friend's name who did the shipping container project in Oregon City? Did he ever get that thing permitted and built?

@Henry Clark that's some solid stuff man, thanks!

There was a small (8? ) development in St Helens about 2 years ago. 4 up and 4 down. The lower units are wheel chair accesible. I went up to see them out of curiousity. They were all for sale as condos. I think they were on the market for 18 mos with out buyers? Nice finishes. I hated the interior units w/0ut enough windows for me. Gotta be what Jay Hinrichs mentioned. Glad to hear he is still in a good place financially.

those are the ones.. they made no sense financially as apartments.. And I will have to ask Carl when we have dinner next time whats up with those .. Financially he is fine he owns one of the largest underground contractor firms in Oregon you see his equipment at PDX currently and many other commercial jobs.. So like I said this was a labor of love that does not make financial sense his main motivation was environmental IE reusing already existing materials. He is handing the business to his Kids in 2024.

HFO sent out a marketing package for these 8 units in Jan. The whole apartment for $2.24M. Looks like it's sold now. Not sure for how much and whether financing was used....

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Quote from @Scott Bowles:

I dont see an issue buying in Oregon but might be prudent to stay out of the Portland metro, everyone who thinks it is some sort of apocalyptic wasteland is not from Oregon. Just buy something in decent shape and screen meticulously. I see decent deals in Salem all the time I am looking to buy my next multi unit there or in Vancouver...

I started in Portland Metro and am now already buying in Salem and Vancouver! Got 20 units in Salem and 10 in Camas. Looking to buy more.

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Portland, Oregon

Quote from @Travis Rogers:

I moved all of my assets out of Oregon last year, liquidated literally everything. I started moving into Texas 3 years ago, and Florida last year after liquidating my Eugene assets and moving myself to Florida as well. Those are my two states of focus, I have done substantially better profit-wise, and if I need to evict I do so easily with no problems. Oregon tied my hands on too many things.

I personally wouldn't invest in Oregon, but agree with you there will be opportunity on the buy side as literally every week in Oregon landlords are moving out over the past couple of years. Oregon has one of the highest exit rates in the U.S. which I feel will eventually will slow pricing. Florida prices are appreciating still, rents are still staying up as well. I don't foresee that in Oregon due to the lack of demand and folks moving to other states, while 1,200 per day move into Florida increasing growth/demand. Buying right as you're looking to do is key, but I also want the growth that leads to appreciation and rent growth.

Oregon caps rental increases. If taxes go up faster than rent increases you can get to a point where you're losing money monthly. This happened in NY and other places with rent control. I personally stay away from any rent control areas, one less thing I want to worry about if I can control that.

Those were my thoughts, they're free and you get what you pay for but that's my two cents haha. Regardless of what you end up with I wish you all the best. Time will tell and it's been very hard to gauge lately. Hoping for a good 2023 and beyond, I think it's going to be a wild ride.

Travis I hear you.. I own couple apartment buildings in OR and I hate the relocation assistance. I need to budget 30% more while doing value-add. However, I hear stories from my TX and FL investor friends that they're selling their portfolio there due to brutal operating expenses like property tax and insurance... They're moving their $$ to WA due to no income tax and no rent control (at least for now lol)

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Eugene, Oregon

Keep up the good work Chris!

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Salem, Oregon

Hi @Pragya Singh Long time no talk :) Hope you & your husband are doing well.

Did you check with First Tech? Last time I talked to them they had re-fi programs for rentals, but LTV is maxed at 60 I guess?

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@Jose Cuellar @Polo Vazquez
recently I've been looking at both San Antonio and McAllen/Edingburg markets. May I ask what draw you towards SA? Based on my research, numbers in the RGV seem to be better than SA, at least on paper :)

I'd like to have the contact info of your insurance agent as well!

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Hi Sean, looks like we came up with the same thoughts again! Recently I've been considering working with a local builder to build my own 4-plex community... If you find someone please let me know I'll buy those 100 units all together.

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San Antonio, Texas

All Forum Posts by: Dan Z.

Dan Z. has started 1 posts and replied 21 times.

Post: Who is your favorite Hard Money lender to use?

Post: Rental Homes in Salmon Creek/Vancouver, WA 98686

Post: Whats your ideal monthly income? How many homes/doors will you need to achieve this?

Post: Shipping Container Apartments VS Stick Built (Oregon)

Post: Tips for Oregon?

Post: OREGON SB611 Trying To Force Landlords To Pay 3X Rent For Relocation & Cap Rent!

Post: 112 Unit New construction in Keizer Oregon. Just Started!

Post: Struggles in Refinancing in Hillsboro OR

Post: Finding Home Insurance and warranty for Multi family (4 plex)

Post: San Antonio Homebuilders and Small Multifamily GCs