All Forum Posts by: JJ P.

I'd suggest keeping it simple.   Get started with your business first, then evaluate the need for the time and expense of LLCs.  

Zillow filled a gap that the National Association Of Realtors refused to fill. NAR is comprised of MLS systems nationwide, each with their own rules and regulations. The old school attitude of "you need a realtor to get the data" prevailed. In the meantime, consumers became more tech savvy and the internet grew. Zillow compiled ALL the data and made it easy to use. It's consumer friendly. The dinosaurs at NAR got left behind.

In my area, which is serviced by 2 or 3 MLS systems, it's actually easier to find a listing on Zillow for basic data than on the MLS, where I might have to log in on my MLS, search for the house, discover it's not in our system, then log off and be a guest at a sister MLS.

As for the $9.99 a week fee for rentals, I'll explore other options before paying for advertising.   If my rental listing needs a boost, I can try the paid version.  Our rental market is hot, so it's unlikely that I'll need to pay for advertising in the next few years. 

The Median Sales Price was up 15.4 percent to $800,000 for Detached homes and 14.6 percent to $538,500 for Attached homes. Days on Market decreased 47.7 percent for Detached homes and 43.6 percent for Attached homes. Supply decreased 63.6 percent for Detached homes and 61.1 percent for Attached homes.

Sorry this is so hard to read... hopefully you can muddle through it.

2019 2020 Percent Change Thru 12-2019 Thru 12-2020 Percent Change
New Listings 1,410 1,461 + 3.6% 35,530 31,330 - 11.8%
Pending Sales 1,396 1,691 + 21.1% 25,090 25,823 + 2.9%
Closed Sales 1,907 2,195 + 15.1% 24,862 25,096 + 0.9%
Days on Market Until Sale 38 19 - 50.0% 36 26 - 27.8%
Median Sales Price* $637,500 $730,500 + 14.6% $632,500 $700,000 + 10.7%
Average Sales Price* $798,932 $954,098 + 19.4% $790,166 $894,124 + 13.2%
Percent of Original List Price Received* 96.9% 100.0% + 3.2% 97.0% 99.0% + 2.1%
Percent of List Price Received* 98.4% 100.4% + 2.0% 98.4% 99.6% + 1.2%
Inventory of Homes for Sale 4,572 1,825 - 60.1% -- -- --
Months Supply of Inventory 2.2 0.8 - 63.6%

Hi, please put me on the list and I'll drive up the coast from Coos County.  I've just had the pleasure to meet

@Daniel DeSurra when I was in the area before Christmas.   Looking forward to more networking.  

I couldn't agree more! Think of all that civil unrest as a golden opportunity to buy because others are being cautious.   Warren Buffett says "Buy when people are selling and sell when people are buying."  This is your chance to jump in on a dip. 

Wow, Sunriver is very pretty!  All of Bend seems to be booming.  I just read an article in Bloomberg magazine that talked about the tech worker migration to Bend

We sold a 2 bedroom condo in San Diego that would rent for about $2K (my daughter lived in one room, exchange students paid $1K/mo) and were able to buy 3 homes in Coos County via 1031.   The 3 of them will gross closer to 4K, net about 3K, per month.  Obviously that was a stellar reallocation for us.   Without boring you with all the little nuances, I can say that I think we bought older inventory, as the houses were all priced more like 2019.   

Since we purchased, prices have creeped up, but, more significantly, inventory is very low. There is very little to buy, and much of it would be better for flippers looking for quick upside turns. We're looking at a couple more LTR investments along the Oregon Coast but they just don't have the numbers we'd like to hit, so we may sit tight for now until something whacks us in the face. The economics of that area aren't real great.. mostly older people and not a lot of opportunity for young people with ambition. There are jobs but not careers. Tourism (LTR transitioning to STR) and lack of housing make it a very strong market if you don't mind a niche. It doesn't dot the I's or cross the T's the way most investors would analyze the market. No Amazon Distribution Center will be moving in!

We only need a couple of units, and wanted to be in a very pretty/affordable coastal area,  so it's working well for us.   I would imagine that this economic profile is very similar to much of Northern California and many other rural areas.  The high return investment option in Oregon seems to be coastal short term rentals, and we haven't gone that route yet.  It's good to have a couple of exit strategies, though.  

We pass through Redding on our way to our new Oregon investments (when driving).   Keep me on your list, just in case we can time it with a meet up.  

So Cal has very little inventory.   Prices are up.  Rentals are scarce.  

We've used Helocs on our primary to purchase other properties. It worked great and we did it more than once. Our strategy was to pay down the HELOC loan asap, and we paid it off before the interest rates reset. It's a creative strategy, but it certainly was an easy way to get a large sum of cash quickly.

@Taj Richardson  that's a nifty calculator.