All Forum Posts by: Marcus Mathews

I did this at the end of 2018. Make sure you have them fill out a W-9 so you can 1099 them if you haven't already.

@Ashish Acharya  Awesome thank you for your help!

@Ashish Acharya Sorry I realize that was unclear. The ADU was rented.

I am selling my two unit property here in Portland, which is a small 2/1 house along with a detached 1/1 ADU on the back of the lot.

I have lived in the main house for well over two of the last five years, so that definitely qualifies for the primary residence capital gains tax exclusion. My CPA said that the ADU will not be covered though.

My question is: Can I do a 1031 exchange on just the portion of the gain that is apportioned to the ADU?

She needs to get elected in November first, which is not a forgone conclusion if someone with enough cash behind them runs against them. 2010 was the last time Monroe had a Republican competitor, and he only won 52% of the vote. District 24 includes a good portion of Happy Valley, so it's not all liberal SE Portland. I believe this could actually be an opportunity for the Democrats to lose a seat.

@Derrick Aragon

I know an upper middle aged gentleman who has started selling his properties, and he owns an 8-unit complex along the 205 corridor in SE. I recently let him know that my business partner and I would be very interested in buying it from him, as he owns it free and clear and I think we have a good chance of getting him to carry the note on it. I'm just trying to get a good idea of what would be a fair price to offer.

I would say it's a class C property, and it definitely has deferred maintenance. I think the rents are probably under market, but not by too much because of the condition of the property.

I own my own job selling surplus industrial MRO parts on eBay.

@Derrick Aragon Would it be accurate to say that in general the lower the class of the property, the higher the cap rate should be?

@Ed Allen

Matt Lesher at The Agency PDX is a fantastic broker, and also an investor himself.

Another idea you could look at is buying an SFR with an Accessory Dwelling Unit (ADU) on the property, which could be detached or within the main house i.e. basement as you said. You could also find a property that has room to build an ADU. They are all the rage here right now as the city is trying raise the housing density while at the same time keep the older feel of the close in neighborhoods, and they seem to like them. They can be up to 800sq ft or 75% the living area size of the main house, whichever is less, so they don't have to be tiny studios.

@Joe Hughis It does, thank you for the info!