All Forum Posts by: Jonathan Manacchio

Originally posted by @Uwe G.:

@Jonathan Manacchio Portland is actually becoming cheaper then Vancouver in a lot of areas as Vancouver has appreciated a lot. On the entire average Portland is still more expensive but when you compare the less desirable areas against each other it appears Portland is cheaper. Regarding multi-family, it is very scare to find anything. Most things 4 units or less are overpriced in my opinion and very hard to find them in good locations. I would expect true Cap Rates in the 4 to 5% range. A 5% cap rate is really hard to find as I frequently search. Hope that little bit of information helps.

Thanks for the information, that definitely helps!

@Chace Fraser

Good read! Appreciate the breakdown.

What’s the multi family scene like in Clackamas county? Im looking to house hack this summer and would prefer to look around Multnomah county rather than in it.

Thanks in advance!

Jon

@Austin Youmans

The tenant protection laws in Portland definitely scare me as I look into house hacking in the Washington (even though this isn’t Portland)/Multnomah counties.

If you don’t mind me asking, how is the multi family scene in Vancouver? The numbers for cash flow/breaking even just never seem to work in Portland or even Washington county in most cases. I know cash flowing isn’t always going to be the case with house hacking, but just curious to hear your thoughts.

Thanks in advance!

Jon

@Irving Casas

Hey Irving,

Wondering how managing this duplex is going. Are you able to cash flow, break even, or pay a little out of pocket each month for expenses and mortgage?

I’m curious to hear what your response is because I’m finding it hard to find multi families where you can house hack and break even in the Portland metro. I plan to house hack a property preferably in Washington or Multonomah county next summer.

Maybe I just can't see more deals since I do not have access to the MLS. Regardless, other people I have spoken to said it's very difficult to break even or cash flow in the Portland metro.

Interested in hearing your thoughts on this.

Hope all is chill and thanks in advance!

Jon

@Joe Mercer

I appreciate the insight. I'll have to take more of a look at Clackamas County. Im more interested in the side of long term buy and hold rentals, so areas that can help in that nature are ones I'm interested in. At the moment, just looking to house hack my first property next year, and primarily invest in SFH/MFHs from there. CT is nice, despite high taxes and much lower pay for what I do as a career there vs in the PNW. Had interest in college rentals around growing schools but the area was still too on the rocks with crime. CT has a few good places that are popular like Stamford near NYC and pockets of New Haven near Yale, but prices were still competing with prices here in OR and the better pay/nature made it an easy move to the PNW!

Hey, what’s up everyone?

I recently moved from CT to OR back in March right as COVID hit.

I’ve been looking to house hack a MFH by summer/fall of 2021. My budget is around $450k

I’ve done my research of the Portland metro, but am discouraged with lack of cash flow, higher property taxes, and the overly generous tenant protection laws in Portland, OR.

My question is, what areas do you Oregonians suggest investing in outside of Multnomah county? I’ve been looking at Washington county as there are big job hubs like Nike and Intel over there. Any other places that I should seriously consider looking into that isn’t too far of a drive from Portland?

I just want the reassurance I won’t make a mistake investing in OR as compared to CT if I were to ever go back there. OR is just so beautiful and I just want the comfort that I can still make sound REIs here!

Thanks in advance,

Jon

@Craig Bellot

Thanks for the input, I appreciate it. I'm currently in the process of looking at a property and I am using the BP rental property analysis calculator to figure out the numbers. I just need to get into contact with a REA to get some reliable comps so the numbers can be as accurate as possible. I will also take your suggestion and contact Chris Reid.

Thanks again!

Hey everyone,

My name is Jon and I'm a new investor located in central CT. I plan to start travel nursing next summer, but before then I would like to purchase a college rental near Sacred Heart University (I'm an alumni from there, very familiar with the area). I don't want to wait a few years to buy my first rental once I finish traveling. With that, I have been looking at properties in the north end of Bridgeport to rent out to college students. What I would like to gain from this post is to build a strong relationship with a REA that is familiar with the SHU area. Someone who can also help me build a team. Any help is appreciated, thanks in advance!

@Jacob Whitney Oregon is in our price range and we have visited before. The scenery and outdoor activities fit our lifestyle perfectly. It just seems like a place that we would be happy and comfortable to live in. We have heard good things about growing appreciation in OR as well.

@Nels Norquist I'll take a look at those places and see what I think. Thanks for the input! Jon