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All Forum Posts by: Eric Koelling

Eric Koelling has started 3 posts and replied 40 times.

Post: Second water meter in a duplex

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18
Quote from @Jeff S.:

Old Portland duplex with single water line. Have owned many years and always wanted to add a second line but the cost.

Would you EVER consider spending $17,800 to save $2493 per year in water cost?  We do know that water will keep going up. The payback is around 7 years.

Yes I know about submetering and all but trying to keep track of all that lots of work.


 Out of curiosity, were you quoted $17,800 by a company? If yes, which company?

Post: Agents in Oregon - Househack Brainstorm

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18
Originally posted by @Brad Hammond:

Hi @Eric Koelling, the rules are more lenient if you live in the property and yes, you can evict for other reasons besides non-payment of rent.  However, I've heard the courts are really back logged right now.  Also, the eviction moratorium did get extended until the end of the year.  

I believe with this moratorium, the rules are equal now whether the owner lives in the property or not. Please correct me if I am incorrect.

Post: Agents in Oregon - Househack Brainstorm

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18
Originally posted by @AJ Shepard:

@Eric Koelling

There is always risk in investing. Rules change and can pose problems. We find that good screening can go a long way. It seems as though while house hacking you should have some additional provisions because you are an owner who lives in the unit. Stick in there, you’ll be glad you did. And even though they aren’t paying they still owe you that money. Hopefully this pandemic will be over soon. They keep only extending by 3 months, so at some point the music will stop playing.

Before this eviction moratorium, I had a different set of rules as a live in owner. With the eviction moratorium, I believe those different set of rules no longer exist. I would love for someone to tell me I am wrong. Hopefully our Governor does not extend the moratorium again.

Post: Agents in Oregon - Househack Brainstorm

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18

I am currently in a situation with lodgers in my house.  One has told me he has a job and still has not paid a single penny for over two months. He now enters the doors, walks upstairs very fast, gets into his door without giving me any time to have a talk. I have offered to waive the past two months of payments plus his share of unpaid utilities in exchange for a written document stating he will leave the premise peacefully. He said no to that. Correct me if I am wrong, but this new eviction moratorium states that I can only evict for reasons other than non-payment. Regardless if I as the owner live in the premise in a different room or not? I know cash for keys is one option. Once I am able to be done with this I plan on leaving Portland, maybe all of Oregon, for good. 

Post: What Is Your Net Worth Or Passive Income Goal?

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18
Originally posted by @Jay Hinrichs:
well I got north of 10 million prior to 08 melt down  ( ON PAPER OF COURSE).. After meltdown not so much.

goals right now is simply to stack free and clear property.. At my age I dont want debt.. so does not have to be a monster number 3 million in paid for assets  Like first trust deeds at 10% plus my SSI and medicare and all my homes paid for that would be a comfortable life I think .. for me we did all our big travel over the last 25 years.. so a nice mountain cabin a little fly fishing.. some sun in the winter..   Gone were the asperations of a private jet.. that was always my number one goal. And i did have a deposit on the Cirrus Jet in 06  when they were suppose to only be 800k.. Well they did not get built until about 5 years ago or so and they are now 3 million..  Any way just musing.

Very impressive as always. As someone who lives nearby in Portland, Oregon, I have a few questions I want to ask you. Is it ok if I message you? Thank you.

Post: Oregon measure would ban landlords charging tenants ‘pet rent’

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18

@Jay Hinrichs @Mike Nuss that's how I look at it as well.

Post: Oregon measure would ban landlords charging tenants ‘pet rent’

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18

https://www.american-apartment-owners-association.org/property-management/latest-news/oregon-measure-would-ban-landlords-charging-tenants-pet-rent/

Thoughts?

Post: Your next income-producing asset? Water heaters

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18
Originally posted by @Chris Shepard:

Thanks for this!  I have a client who is going to sign up 2 of his properties!  

Cheers,

You're welcome.

Keep in mind there's a minimum numbers of units you must have. 

Post: Your next income-producing asset? Water heaters

Eric KoellingPosted
  • Residential Real Estate Broker
  • Portland, OR
  • Posts 40
  • Votes 18
Originally posted by @Mathew Wray:

That’s really interesting Eric, thanks for sharing! It kind of reminds me of the argument for solar through tax incentives, not directly through reduced energy costs. 

 I considered putting solar panels on my townhouse last year. Have there been new incentives or better incentives?