All Forum Posts by: Ciarraghe G.

I agree, I always skip listings if they don't have a king for at least all adult couples to sleep in, unless we're on a very tight budget or have no other options and no way to reschedule. We are average sized people and we can't sleep if we're in a queen, we disturb each other too much, and a full- forget it, that's only good for a single person. Also consider Americans are often big people (statistics say well over 60% are obese or overweight), and a queen is just unbearably cramped if you're bigger than the ~1940's average adult when Queen and King size became available.  

Thanks Tanner for posting, yes that's the HB I read- I don't trust this OR govt to not push this through now that there is an extremely friendly Federal situation to support her, she has shown for the last year that she will take every advantage she can to take over more power and become less business friendly and more redistribution friendly. 

If this doesn't pass then things are OK for the time being. But this is alarming language: 

--Take any other action, including through the seizure, use or possession of any real or
personal property, that may be necessary for the management of resources following an emergency. --

It's basically written as a complete free reign to do as she sees fit, for anything at all that she wants to do. As an emergency is easy to declare for any reason she determines. 

With the current pending legislation on the docket to declare all property in Oregon no longer private at the whim of the Governor's emergency declaration, should I hold my properties or sell and move to another state that isn't outright announcing they plan to take everything and redistribute whenever they see fit, with no compensation? 

I have a very high cash flowing property with ~65% equity and an excellent long term tenant who wants to stay for at least 5 more years, another on large acreage that breaks even with close to 50% equity (the investment value of that one is in the land/Timber, not the rental, good tenants though with stable incomes) and lastly the one I live in with ~40% equity that I am using as a house hack for BRRR.

Things I'm also considering instead of liquidating- are there legal/structural things that could be done as protective measures? How do you protect your assets in this hostile environment coming like a freight train? 

I'm trying not to freak out about it, but it's getting harder every day as this pending Socialist takeover is looming. Not sure if anyone else is equally freaked out, or even aware of it. 

Keystone Granite out of Salem will install in Portland. I just did a HUGE kitchen in beautiful granite for $4500, installed. 

I don't know a whole lot about the details but the rules around the eviction moratorium extend through June 2021. You should read up on what is and isn't possible with that moratorium in place

Quick google search: 

SALEM, Ore. — A bill passed during the Oregon legislature's third special session extends a moratorium on evictions, but it also requires action from renters in order to gain continued protections.

House Bill 4401 extends the statewide pause on evictions for non-payment until June 30 of 2021. However, renters must fill out and sign a sworn declaration of financial hardship and give it to their landlords for those protections to apply.

Renters who don't fill out the signed declaration will need to pay back rent by March 31. If the form is completed, renters will have until July 1 to pay back what they owe — without being charged any late fees or having debt reported to credit agencies.

However, the new bill does include some exceptions for landlords, even if the form is completed.

"The new statewide moratorium also allows landlords to give termination notices after the first year of occupancy if the landlord plans to demolish the rental, convert it to a different use, or make repairs that would require the renter to move out," the Oregon Law Center says. "Landlords are also allowed to give termination notices if the landlord has sold the rental to someone who plans to move into it, or if the landlord or a member of the landlord’s family plans to move into the rental."

Landlords must give at least 90 days' notice before evicting a renter for those reasons. Landlords can still terminate a rental agreement if the renter otherwise violates the agreement or does something illegal on the property.

Moreover, HB 4401 includes funding for landlords from Oregon Housing and Community Services in order to help pay back up to 80 percent of owed rental income. The legislature set aside $150 million for this program, which is still in development.

Try Axia home loans, they are very investor focused and I've done many deals with them. Nothing like yours but definitely some creative things. 

https://axiahomeloans.com/jenn...

Thanks everyone, there are some great suggestions. 

Yes the reason it cannot stay is zoning as well as space, the lot is timberland and very sloped, there is very little space on the currently buildable area of the land, and the other flat parts of the land are hard to access without some extensive road development first. 

I'll look more into selling it outright and what it may bring, as well as lease options. I really need as much value out of it that I can get. Partnering with someone might be an option if I can find a few good lawyers to make sure it doesn't go sideways. 

I recently invested in a property I plan to build on (for personal use) and it came with a 1998 double wide 3/2 mobile home that is in really good condition, needs some cosmetic updates to make it look current but otherwise, it's perfect. The problem is that it can't stay on the property, it has to go so I can build- I just don't know what the best thing to do with it would be. 

I was thinking of buying a lot and plopping it on there and doing some updates to flip it, estimating that this would maximize my profits on the deal at around $200K or so, but I'm going to have to do that with Hard money since all of my resources are tied up in the construction loan/process for the next year or so. However, my mortgage person told me that once you move a mobile home it has to be owner carry or cash offer only (although I'm seeing online some information about the VA being willing to loan on these, not sure if that's true or not). This won't work if I have to do the flip using hard money as I imagine a cash-only will take maybe up to a year or longer to sell? I'm in the Portland market and things move pretty fast but they've definitely come to a comparative crawl in the last few months and cash only seems not to move at all, especially when the sales price would be in the 450k range when all is said and done.

I have enough cash to buy a tiny lot with hard money until I could refinance it after my construction is over, and then I could make it into a rental... I do have other rentals so that's not out of the question, but I really prefer to have the cash.

I could just sell the home itself outright and tell the buyer to come get it, but I'm thinking that I'll probably not get enough for it to even bother selling since the move costs will be high. The thing is currently plopped on top of a shop building (Yes it's very strange) and needs a crane to bring it down before it can go on a truck. I'm afraid that no one will take it unless it's free because of that caveat. 

What other options are there? I feel like I have a really nice home that could be great for someone that would be a shame to just tear down and dispose of. I want to maximize profit on it but I feel like I'm not creative or knowledgeable enough to come up with something workable with the pretty empty pockets I have at the moment, so hoping someone has some unique ideas. 

Thanks!

Just read a Linkedin article on Mariott entering the market to become Airbnb's rival... with Hilton and Hyatt also considering the avenue. 

I have been thinking about STR's and buying more rentals in general but now with that kind of giant buying up condos/SFH/multi's what impact do you think this will have on the rental industry in general (and housing for that matter) and STR- hard for most investors/buyers to compete with something like a hotel chain behemoth when it comes to purchasing power and could drive prices crazy in desirable areas, not to mention the points and perks they can offer for staying on their properties?

Sandrine Ganry with Vista Point Properties LLC out of Lake Oswego runs a good operation as well. They are also investors themselves, and her partner is a real estate broker.