All Forum Posts by: Jim Butterfield

Quote from @JD Martin:

I read this entire thread and could not figure out why a property valued that high is renting so cheaply. 

 you must to be use to high pricing in homes in certain areas... I have a rental home (Portland, or) value is $500k +/- $5k. Rents for $2500. Lucky i have only $250k loan on the home. the money works. Some would say I'm wasting potential. We recently fixed and flipped a home in Reno area, Home was $450k, would only rent for $2200. Do the math on a mortgage vs rent as to why we sold it. 

Quote from @James Wise:

 Dawg, that's not a great pitch. You do know that you can walk to get coffee without having to travel through a homeless encampment in most every other city in America right?  You and the other guy have made me think Portland is worse than I originally thought.

Seeems Cleveland might just be worse off than Portland. 

yes great idea. we had same situation, she bought house long before me. after a while, she was not able to make anymore money on the home in rent. Cashflow was only $200mo.  Had lots of equity. Sold it 1031 into 3 homes (out of state) and now cash flowing $800 from the 3. 

@Mike Nuss
just remember, its always easier for some to step or crap on others on your way to the top. AS you mentioned, biased & bigotry  gets you nowhere in the long run. Your character is evidence in your writings. As you said, there are places to invest in Portland. Does it have issues, sure. Does NOT mean you cant make money in real estate as you said. You do need to do research as in any city to purchase in. We have a few doors in Portland metro, making descent money each month. 

Quote from @Nicole Heasley Beitenman:

Read J Scott's The Book On Estimating Rehab Costs.

 great advice... good book. 

a rehab home can be a big project. If your not ready to deal with contractors, delays and schedule issues, that can be tough. I prefer to buy good deal on rentable homes. However, i have some spare cash and diving into the rehabs my self, just closed on here in Oregon. Its a mild reahb. but getting feet wet slowly. Using a know contractor so this helps. 

Portland refuses to expand the urban growth boundary. so they are building up in the Portland metro area. infact, recently they have been granting permits to build sky scrapers in downtown water front. For so long it was a scenic area, so you could no build up, along the river... but now there are huge apartment complexes there... Its a little bit of NY on the river front. 

@Jeff S. exactly why we have been buying outside oregon. You cant compete with Govt regulation. Oregon will become more expensive soon when regulation pushes out more investors. They think its expensive now... just wait. 

alot more efficient if you do heat only the rooms you need. 

@Jeff S. its amazing to read that letter, of how it was, and knowing what it is today. Talks about declining prop tax rates, and crime rate dropping... HA!!! So far from todays "Portland"