All Forum Posts by: Mathew Wray

Welcome Josh, sounds like you're on your way. Be thoughtful and dig into the pros and cons of all options and you'll do just fine. I used to call Seattle home...what neighborhood is your contract in?
The Seattle market seemed crazy when I was there a few years ago it must be even more "off the hook" (yeah, I said it) now!

One suggestion I have about contractors is to identify yourself up front as a real estate investor. You don't need to lie, tell them you're just starting out but wont be small forever. I had difficulty getting some outfits to respond because I was just a guy with a rental but when I started identifying myself as a guy who was building a property management company I finally started getting some traction and building relationships. That's my .02 cents...

Welcome!

Here are a few more Portland names I haven't seen reply,

Ratho Reis James Gossett Tucker Merrihew Joe Liu

You all should join us if you're available!

Adam K

Definitely check on the laws in your state. You might be surprised at what the state will regulate in regards to landlord/tenant issues. I know here in Oregon if a landlord provides it and it breaks we're required to fix it. I'm sure there are plenty of people getting away with the "use at your convenience clause" but that doesn't mean it might not come back to bite you down the road.

Best of luck!

Mathew

Karen Margrave Thanks for the tip...I hadn't thought of them like liquor licenses. I think here in Portland its more of a free for all (within the confines of an established marina). There are two rivers (the Willamette and the Columbia) that both have a number of marinas on them. I haven't done a lot of thinking about vacation rentals but it could definitely be worth pursuing.

Zach Schwarzmiller Seattle is where I first fell in love in with houseboats. I used to kayak on Lake Union and even spent some time scuba diving under it. Anyway, it's good to know that someone is doing it!

Jeff S. Sorry you had such a bad experience. Maybe I can pick your brain at the meetup. I like the idea of owning the marina even more. I assume it'd be sort of like owning a mobile home park? Admittedly I know nothing about mobile home park ownership...

Jeff S. with enough houseboats you could make a 55+ community covenant and then you wouldn't have to worry about children falling in when showing the property. Of course you'd have to worry about senile elders doing the same thing! But seriously, did you rent the houseboat when you had it and if so were you able to charge a premium for the property?

Taylor Jennings I think it's an interesting idea too but, for the reasons Jeff stated and others I've encountered, it probably wont work (not that I'm giving up on it totally). I started looking into it because, A. I love houseboats, and B. they can be a fair amount cheaper than comparable properties in Portland.

I know Seattle has a bunch too...Are they as prevalent on the East Coast (why is Baltimore standing out in my head?)

Hi all,

I'm curious if anyone has any experience buying and renting out houseboats? I know there are slip fees (if the slip isn't included in the purchase price) and I'd be shocked if there weren't some sort of HOA fee to pay for docks, walkways, garages, and depending on the marina utilities.

On the positive side, you get waterfront property and a unique draw for tenants. There is a fair amount of waterfront in Portland and a lot of sweet architecture on that waterfront. I don't see many of them come up for rent so don't have as much information to pull from.

Does anyone here hold and rent houseboats?

Thanks,

Mathew

I'm definitely in!

Bill,

I worked with Kate Brooke ([email protected]) to develop my Property Management Contract and I was really happy with her. She understood and responded to what I was asking for. I definitely plan on working with her again in the future.

Mathew

I think I have some pictures on my phone from my trip last year to the "affordable" street of dreams. I'll get them uploaded and send some to you in the next day or two.

Here are a few examples I found floating around online:

https://www.google.com/search?q=double+sided+fireplace&source=lnms&tbm=isch&sa=X&ei=57XPUf7IIaWUiALf_oHwBA&sqi=2&ved=0CAcQ_AUoAQ&biw=1366&bih=665

Jeff,

Congrats on the buy...anyway you could remove them both and put in one of those fancy double sided see through fireplaces? That way some of the wall can come down (or be opened up at least) while keeping the aesthetic of a fire place?

I know I've seen them on TV and at street of dreams houses...which probably means it would be way out of budget!

Mathew