All Forum Posts by: Devin Deswert

Not sure why you are looking for a investor to purchase the home. Highest value to you will come from people wanting to purchase as a live in the home. If you want to maximize your cut then get a Realtor even after fees it should net you more then selling to a investor. And flooring allowance? Let the agent shoot that out of the sky, your already giving up gross just turn it over to a professional that's out for your interest.

Welcome! I've also been in and out of Utah with work, took me a few years to warm upto the place but now call it home.

I don't agree with the 100k thing but I don't disagree with it either. I look at housing as just another security. It's about hedging risk and increasing margins/up side. I would never buy 300k shares of Johnson and Johnson on a margin with that being my only holding in the company with a 3 month exit. My exit would be small to warrant the extra risk with my return being diminished with carrying. But the situation changes drastically if I take a long position of 100k cash and then 200k on a margin. Its a balance. While being light on cash and leveraging heavily you can get in sooner and maybe make things happen and grow faster but less able to take a loss. On the flip side of being cash heavy is you might not get the best turns on cash, be more stable and absorb some downside with some more flexibility durning market changes.

My concern at that price point is why would anyone rent? What's the current standard on credit for fha? 630, 650? I'm not sure but it's pretty low, and down payment on 60k is t much to save for. So if they are sub 700 beacon and can't save 2100 for a down what kinda tenet's will you end up with? That's why I don't bother outside of major area's. In the major area's you always have people moving in and out or go from renting to owning. But there a applicant might have a 840 score but they can't save up 60k for a downpayment or not ready to put roots down yet and needs to stay mobile.

Only a couple phone calls per year. Shouldn't have to manage them it's why they get 8-10% plus what they skim off the top of repairs and turn over.

1. Ease of getting ahold of on phone. If I struggle so will tenets. 2. Are they excited about my place/area on first meeting and do they come prepared with comps. I don't care what the office looks like, only that they can come to the field and be on time and prepared. 3. Time frame for rolling property to market and how fast that process is both in posting and getting in cleaning crews and photographers. If it takes more then a few days then it means they are sloppy or successful and have to much going for my place, I don't want to risk either of those 2 situations. If they came highly recommended and they are the best I will ask them who they would recommend and call them. 4. Up to speed on tenet laws, if I roughly know them they should know them front and back. If I don't learn something then it wasn't a great meeting. 5. Last is backing up promises. If it's on the market for a set number of days( depending on vacancy/season) that 50% move in is waved. If they take 60 days for a condo in Seattle durning the spring that's a no go, Rainer better be exploding. My one and only biggest pain point is when I have leases coming due. Depending on the area I have a window to send notice of a rent raise could be upto 90 days. So 30 days prior to those windows I expect a call with comps and suggestions. When I have to call 29 days before I'm annoyed. Or if I pay for a add on service like to get bi annual photos I expect bi annual photos.

Why don't you ask your mentor what you should ask her?

I think you will see prices come down some but that's mostly do to affordability and getting a mortgage. But due to housing supply, economic growth, population growth I wouldn't even call Portlands market hot right now just normal.

I think Milwaukee has some potential. Around foster and 82nd, montavilla, some parts of Gresham, NE as a whole. But like another member said follow the mass transit extensions. But to add to that look at what the PDC is doing and what areas they are investing in. Really plenty of deals to be had but it might not be realized for 5 years down the road. One thing I've noticed about Portland then any other market I've been in is mass transit location is key but also changes in the commercial property's in the area. Every neighborhood is seeming to develop its own eco system, so if you have mass transit and a row of under utilized commercial property's eventually the neighborhood will build up around that.

I recently just did a bunch of the halo brand led retrofit lights on a current basement remodel. Like another user mentioned it screws in like a normal light bulb on one of the connectors. Then for the light it will have 4 parts: The actual light with trim and a 3 prong connector that plugs into the light socket connector. Green ground wire to screw in to the can fixture. The gasket and I'm not sure about other brands outside of halo but the gasket was a cheap foam gasket. If you decide to use caulking check local code first. Tension springs. These just screw onto the light and you fold it in and push it into the fixture and the light stays in place. The lights come in different colors/kelvin. I went with the cool white 4K. But they also had a warm white 3200 and a warm white 3500k. On a side note if you are adding lights to get the number of lights for a area it's ceiling height divided by 2 as a rule of thumb. So a 8 foot ceiling is every 4 feet a light.