All Forum Posts by: Phillip Pommier

Jeff, I think the company is Flow Rite, and as I recall it is on Jay St.  Mr. Flow Rite is Dean Spencer.  Our house is 51 years old this year and all original piping inside the house is galvanized. We live in a planned unit development (townhouse) and neighbors have been warning us about leaks.  We left town for 4 weeks last summer and came back to soggy carpets everywhere.  Because of stories we'd heard from neighbors we decided to replace all pipes.  Dean may have told us that he didn't want to work on it because of concerns noted above.

Pex may be easy but old galvanized is not. You mess with old galvanized and it can break at the other end.  Not good to do partial replacement.  Problem is plumber only wants to work two days a week. Need a contractor who will come in and get the job done. We used Flow Right Plumbing last year to replace all galvanized in our house. They did work fast and recommended an ace sheet rock guy to clean up wall openings. They did a great job. 

@Cori Leste, sorry I do not wholesale multi-family.

@Francisco Jasso, I am no longer looking in the Beaverton or Portland metro areas.  Its too expensive.  I'm now focusing on the Salem area and towns nearby.  If you find a deal there I would be interested.  Right now, however, my funds are fully deployed.  Until I sell a house I can't do anything.  Thx in advance for any deals you bring.

P.

Taj, if you haven't already, check out the Rare Bird Investor Network (https://rarebirdinvestors.com).  They have a monthly meeting that is great for starting out. Good luck!!

At a previous REI seminar I was told that a flipper could do four houses a year without getting a license in Oregon. We always use a RE broker to sell but have bought once in a negotiated private deal. I am very interested in what @Jay Hinricks and @karen Margrave have said. And I look forward to @Mike Nuss providing a presentation on this subject for Oregon.

Regarding the original question by @Steve Dunford, I've sent many mailers and consistently get a 1-2% response.  However, the local market is tough and most people really are just wanting to know what their property is worth.  So nowadays I start on the telephone by telling them I am an investor and advise them regarding the economics of wholesaling their house.  Occasionally you will find someone who: 1) can't afford their property anymore and is tired of the struggle, and 2) have enough equity in the property that you can make them happy while still buying at a discount.  But these deals are few and far between.   Good luck Steve.

Colin, I think the best, and most active, is the Rare Bird Investor Network.  Next meeting is Thursday, July 12 at the Multnomah Lucky Lab Pub.  Starts at 6:30 and typically includes time to network,  plus a discussion of the local market and a program feature.  This month's program is "The Five Most Dangerous Financial Pitfalls."  They've also started doing "master classes every two weeks.  Check 'em out at https://rarebirdinvestors.com/.  Hope to see you there.

Yonah, excellent help!! The links you sent provided great information and led me to Adventures in CRE. Thx for the advice!!

I have an opportunity to be part of a new apartment development in central Oregon.  The property owner is asking my partner and I for a proforma to develop the site to about 60 units.  Zoning is complete and the city supports the project.  Can someone give me an example of a proforma for a project of this nature?  

Patrick, I will recommend Daniel McNabb, Ambience Remodeling.  You should be able to reach him via BP  

@Daniel S McNabb .  He's easy to work with but is very busy.  Regarding the age of the house, watch out.  I think Daniel will recommend an hourly NTE type contract because you never know what you are going to find.  Have a healthy contingency budget.  

I hope you are going to the next BP open house or Rare Bird Investment Network.  I'd love to meet you since Newburg is in my targeted area.

It's on my calendar!  Looking forward to it.