All Forum Posts by: Kelly Asmus

Troy Reichlein, CPA

503.653.9592

Try Mike Gruol. He's a BP Member and wholesaler I've met on these forums. 

541-527-7506 

[email protected]

They are out of Bend. 

I interviewed to change brokerages a couple of years ago and talked to both. Since you are brand new you have different needs than a lot of brokers - you need both training and mentorship. KW yes offers lot of training and is known for that. A lot of new brokers start there. ExP has the cloud based brokerage. In Oregon they have limited Principal Brokers, so if you have a question, need help, etc you have to go to the person who recruited you - who may not have much more experience than you. That concerned me when I talked to them.

Talk to lots of brokerages and understand their models, how they pay commissions, how they do or don't train you and if they provide mentorship. Expect to go 6 months without a paycheck but paying lots of expenses upfront for dues, signs, lockboxes, marketing, training, etc. So be prepared for that. Run it like your business, work hard and ask for help. Let everyone you know, and I mean everyone, that you're in real estate - your mom, your childhood babysitter, your hairdresser, your neighbors - that's how you generate leads. This whole business is based on lead generation - you generating your own leads. No one will hand you business. You go out and hunt for it.

Sure. Would I love for everything to be easy - of course. If it was easy then everyone would be doing it and then that's more competition playing in the same sandbox. If it's hard, people will go play in someone else's sandbox. So just depends on how you want to look at it. I don't raise rents every year, but I certainly evaluate it every year and adjust as needed - but so should everyone!

Dan Hayes

Real Property Management Solutions

About Us | Real Property Management Solutions Portland OR (realpmsolutions.com)

He's an expert in Portland relocation and rent control issues. 

I can't personally build 60+ homes from dirt, but have 20 years in the new construction industry and a deep rolodex of builders, developers and contractors. DM me.

Do your due diligence and research your neighborhood. How many STRs are on the market? What do they look like? Pull data from AirDna. Are you even allowed to have a STR - check local regulations. What kind of investment do you need to put forth to stage it and do you have the capacity to manage bookings/cleanings/maintenance/etc? Answer those questions and you'll probably figure out your path forward. Secondly pull a rentometer report and figure out what properties like yours are renting for. Look at all the data, then make your best, informed, decision.

@Bruce Woodruff

Yes, some investors will flee to easier pastures but you are right for those of us who figure it out - we are thriving. So yes I am capitalizing on it being "difficult." There is opportunity when others are running the other way. Oregon has had rent control for several years and yes many sellers left. Those of us who stayed picked up deals, raised rents because there is a shortage of good rentals and we maintain market rents by raising rents every year, when needed, by the amount the state lets us raise. I don't have to raise rent every year, but I certainly evaluate it and decide if I need to, then I give a 90 day written notice to the tenant and I raise the rent. That's running a business. 

We all find ways to thrive in our niches. 

Regardless of politics we all need to find ways to manage our business and carve a path forward to success. We can't worry about things we don't have the power to change but find ways to adapt to market conditions. We're doing it now, we're doing it all the time. Regulations are just one more thing to maneuver and figure out. Market conditions are vastly different today than one year ago and we're all finding ways to adapt and move our projects forward. Government regulation is really no different in my book. Understand the challenge and find ways to thrive - despite the circumstances. Some of us live in very challenging cities with very unfriendly landlord policies and yet investors find ways to thrive. Glass half full vs glass half empty. 

Some ideas. Get a HELOC on your existing and use as the down payment for the duplex.

If you keep the SF as a rental they you can use the income to qualify for the duplex. Additionally if one side of the duplex is currently rented, you can use 75% of the rent to help you qualify.

I sell a lot of investment properties and these are just a few points that help clients. Yes, do be aware of the FHA 100 mile rule - which is crazy, but it's set in stone.