All Forum Posts by: Nicholas Cook

The best path forward depends on where the microbial growth occurred and why. There are a lot of preventative/proactive things you can do, including, but not limited to;

1. Ensuring there a humidistats built into the bathroom fans. 

2. Ensure the tenant keeps the property at 60 degrees Fahrenheit or higher.

3. Require blinds are opened and furniture is away from walls to help with circulation. 

4. The EPA has a booklet on this I recommend giving to the tenant at move-in.

5. Periodic site visits. If someone is checking on the home 2-3 times per year, you have a better chance at catching this before it gets bad. 

I hope this helps.

Do you offer second position debt?

This is more and more common right now for a lot of developers. What interest rate range do you typically offer? 

If you have a tub/shower combo I would consider 2 things. The first is, what is going to reduce possible water damage. The second is what looks better. Curtains are okay, but they tend to offer less protection depending on the tub design. Also, if the rod is mounted versus spring loaded that changes the look too. I hope this helps. 

Most property management companies offer a "Lease Only" service. I'd recommend contacting Colorado Realty and Property Management. If they can't help you, they probably know who can. They are very reputable. 

@Lauren Olson It really depends on your financial position and your goals. Oregon will bring lower cash flow and more regulations. The upside is general appreciation trends, low time on market and greater liquidity of the property than less popular markets.

While having a property locally is great for learning, you can still learn by buying out of state. The key is to have a solid property manager. A property manager will keep you informed and help you navigate the landscape of being a landlord. The key is to find a reputable one. 

There is no perfect answer which is why your goals will help inform the best choice for you.

@Maria D'Aura Everything really comes down to your primary goal. The west coast is a great appreciation play if you are looking to hold long term. If you are focused on cash flow, there are opportunities in the NW, but a bit harder to find unless you are buying large multifamily buildings. 

Vancouver is more landlord friendly than Portland, and Oregon for that matter, but it's not clear how long that will be. 

If you want to discuss feel free to message me.

Thank you!

@Luis A. Great post and story. I've been in real estate for over 13 years. I started and operate one of the largest property management companies in Portland and Vancouver. I am a licensed broker in Oregon and Washington.

I would be happy to connect sometime and see how we might be able to work together or even just talk shop.

Thank you!

If you are an owner or are managing the property without compensation that shouldn’t be a problem. 

If you are managing the property and are being compensated that is considered professional real estate activity and you need a license.

Now if the property was put into a legal entity and you worked for that legal entity, you could manage it and be paid, but that introduces nuances and other factors. 

I hope this helps. 

@Mike Meerschaert Welcome to Portland! I've been operating in real estate for about 13 years (all of it in Portland). I am an investor, realtor and owner of a large property management company in Portland.

The biggest factor to consider when investing in Portland is the regulatory environment and how it will impact you and your goals.

Portland has new security deposit and screening criteria for residents that may make you pause. Also, you will want to read up on SB 608, which is the latest bill in Oregon that passed in early 2019. 

I would be happy to connect.