All Forum Posts by: Lara Nicole

@Jonathan Greene You clearly didn't read my full post. Her first reply when I asked about the property was it was ideal, despite being overpriced, sitting on the market, no driveway & no street parking. Only when I asked her about these issues did she change her tune. Obviously this is concerning.

I've been working with a real estate agent who has a good reputation for a few weeks.

So far we lost two offers & I always send her the property address for her analysis before I/we go check it out. She has been honest so far with red flag properties but recently she gave me a green light on a property that was on a busy street with no driveway & only parking on one side of the street. She said it was ''ideal''

I replied back confused asking her if the busy street & no driveway would affect appreciation & resale value & she completely changed her tune, saying ''Not likely to impact appreciation – it will go up the same as the rest of the neighborhood – but it will always be worth less than if it weren’t on a busy street. The combo of the busy street AND no off-street parking would make me pause unless it’s your dream house. Those are two pretty big flaws.''

I feel she is now more focused on her commission than helping me avoid undesirable properties, thoughts?

@Jennifer McElliott Very smart strategy & many thanks for the suggestions, appreciated! :-)

@Jennifer McElliott Those are some amazing returns, congrats! I'm researching the STR game & factoring this into my strategy, of course location is key for this.

What city is your STR MF in & what site do you use to advertise to traveling professionals?

@Jennifer McElliott What appreciation percentages are you experiencing on a yearly basis?

I've noticed a steady increase in most Washington & Oregon state MFs to the point where these properties don't even come close to meeting the 1% rule & would actually be breaking even or taking a loss if purchased.

Are there any other cities/counties in the PNW (or elsewhere) where there's still some prospects for healthy cash flow?

I've noticed a steady increase in Tacoma, Vancouver & Olympia MFs to the point where these properties don't even come close to meeting the 1% rule & would actually be breaking even or taking a loss if purchased.

Are there any other cities/counties where there's still some prospects for healthy cash flow?

@AJ Shepardundefined You have some great points! When I moved to PDX I was originally thing about a SFH or duplex however I've ruled out a MF in Portland due to many factors. Due to the anti-landlord laws & more coming down the pipeline, plus the current state of the declining city I no longer see it as a viable investment option. My theory is multi-family properties in PDX will start to decline in demand & appreciation as the laws tighten. I've spoken with several investors who are selling their investments in PDX & going out of the state where they have more control over their properties. I'm still open to a SFH though.

@Eric Schultz I was thinking the same, possibly the Midwest. I would have to secure a solid PM though to make it effective.  I moved from San Diego to Portland, tiny world :-)

I'll reach out to you if you don't mind as I'm always happy to chat with other investors.

@Noah Chappell I like how you think & I'm trying to make this type of leverage work. I would probably reverse the order though as finding anything in Portland right now that would qualify for a $20-40k down payment for a multi-unit would be very difficult. I also don't think it's wise to buy a MF in Multnomah county due to tenant laws & minimal cash flow. Other areas could work but I would need more cash down in the city.