All Forum Posts by: Jessica S.

I'm partial to Tindell & Co.  They manage about two hundred doors so they're fairly small, and they offer excellent service.  Let me know if you want me to PM their contact info.

Looks like I'm driving to the suburbs 😂

Hi everyone,

Here's a link to the Portland meet-up I've arranged for this coming Tues.  It would be great if you can RSVP so we'll know how many people are planning to come.

https://www.eventbrite.com/e/bigger-pockets-portland-meet-up-tickets-17696638121

If @Jay Hinrichs is attending then I guess we should expect a good turnout 😀

Dill Ward from Urban Nest Realty has kindly offered us the use of her event space, Moxie Studio.

I booked us in for Tues, July 14 @7 pm.  

The address is 5010 NE 9th Ave. Portland.

Hope to see you there.  

I know a real estate agent who also owns an event space.  I'm not sure if she'd be interested in donating the space for a meeting  but I will ask her.

I hope your fiance's test went well.  

I'm in Portland as well. I got licensed last year for similar reasons and now work under a principal broker with her own agency.  I met her at an open house and we really hit it off.  When it came time to find someone to work under I called her, along with several others that I found through various avenues.  Her terms were better for me than what anyone else offered.

One thing that might appeal to you is that her company also does property management so she has a great deal of knowledge about rentals.

Feel free to message me for her info.

The metro areas of Oregon don't generate anything like the rental profits you can get in other areas of the country.  Unless you can  modify your criteria for what is a good deal then you'll never find anything that satisfies you.  Same goes for all the desired areas of the west coast.  

If that doesn't work for you then you should probably start thinking about investing out of state.

 Belle,

Flipping a house doesn't generate capital gains. The profit from the sale is usually considered income and therefore income tax is paid by whatever entity held the title (LLC, individual, etc)

 Keep in mind that the commission structure  and laws vary from state to state.  For example, in Oregon the sale commission is typically a pre-negotiated percentage paid to the seller's agent who then pays a portion to the buyer's agent.  The seller is obligated to pay the entire commission to his/her agent regardless of whether the buyer has representation.  Even if you're not working with an agent the seller's agent cannot return "your" portion of the commission to you since that is sharing commission with an unlicensed individual which is illegal here.

Before I was aware of that law I didn't understand why a listing agent got so irate when I asked to get the price lowered because I wouldn't be working with a buyer's agent.

Things may be very different in your state, you should research it.

The first thing I'd suggest is that you get a better handle on your ARV (aka selling price)

The 50k variance between 650 and 700 is much too broad particularly since it represents the difference between making a profit and taking a loss. Your real estate agent can help you get a more accurate number.

I'm actually in the process of adding a second story to a house in N. Portland right now. I'm by no means an expert but am happy to share knowledge. Feel free to PM me.