All Forum Posts by: Mike Nuss

@Jack Chu 

Kyle Pearson is the best. Real Estate background focusing on small business services in the real estate arena. 

Pearson Advisory - Portland Accountant
7455 SW Bridgeport Road, Ste. 220
Tigard, OR 97224

p. (503) 610-8291

@Emilie Benn 

 you and your husband have the perfect skill set to flip homes in Portland. Keeping construction costs down and design are two very important factors to making $ in the Portland market. The right design in the right location can create some serious value. What parts of town were your two recent purchases? Where has your husband been doing flip rehabs? Have you been watching any specific rehabbers in our market? It's always exciting having projects going on, although sometimes it's hard to keep the excitement from turning into being anxious. 

You should come check out our RareBird meetings at the Lucky Lab in Multnomah Village. You'll meet like minded individuals. Some of them right here from BP. One new investor recently quite his day job due to success he's been having. You'll find a range of individuals great for networking with (wholesalers, flippers, builders, developers, landlords, brokers, etc..). 

http://myrarebird.com/events/

Hey Matt

I feel bad no one has replied to your post yet so I'm going to give my two cents whether it's worth one or not. You're probably going to have more success asking this question in person at a real estate meeting (see below for two references). Offering a helping hand is a great way to get some advice, although I wouldn't frame it as "pick your brain". No one wants their brain picked. However, as someone who does give out a lot of advice in the Portland area I'll tell you that it feels good to help out an energetic soul looking to change their lives and invest the right way. There are 3 groups having investment meetings in the Portland area that I know of. RareBird (I'm biased), Northwest REIA and REVIN.

RareBird has three meetings a month all on Monday evenings at the lucky lab in Multnomah Village. This is a membership based group that you can check out a couple times for free. We have a deal analysis meeting tomorrow night.  http://myrarebird.com/events/  Along with the meetings you'll get some good info on our blog posts. We also have done a bus tour in the past and will do one again in the spring.  

Northwest REIA is the largest group in the area. They have their general meeting in Portland, a Vancouver meeting and two meetings in Beaverton. They're also a membership based group that allows you to go to one meeting for free. http://northwestreia.com/

You can find REVIN on facebook. They meet every Tuesday at lunchtime at the Mongolian Grill on Mill Plain Blvd. Totally free venue. 

I'd check out some meetings, meet people you want to work with and get to know them a bit. The worst thing you can have is a "mentor" that doesn't care about anything except getting deals from new investors. There are many of these predator types in the Portland area so I suggest asking around before working with them. Meeting someone in person is a much better way to vet them than it is through an online forum. 

I hope this helps and didn't sound too negative. 

I could use this service!!!!!!

@Jay Hinrichs is there anything you don't know about real estate on this continent? Seriously, your perspective and insight is quite amazing. Let me know when I can buy you a coffee and glean some of that info. 

"I am close to starting my own firm with license and was wondering how to do a full service management."

Easy answer. Finish the licensing and be legitimate in your practice. Sounds to me like trying to negotiate a "creative" solution will take longer than just finishing your licensing. 

I invest in inner areas of Portland (west of 39th ave, these prices are moving out towards 60th ave). Average unit price for off market properties is close to 200K (typically more for marketed properties). 

@Zach Davis I'm assuming you mean east of I-205 for East Portland at those prices you listed. The only duplex I've seen purchased under 300K was a total rehab that is now being a condo conversion. Of course that's marketed properties. It's tougher to track off market purchases.

@Keith K. utility bill backs for the Portland market are becoming more and more common. You'l see even more of it with increasing sewer costs and low vacancy rates. This could change with the apartment boom, but most of the economists I've seen have been saying the apartment boom is still trying to catch up to the lack of development from 07 to 11. Basically, the boom is still not going to catch up to demand. Of course we haven't seen that play out. 

 Owners have to pay garbage in multnomah county, but the law says nothing about billing back for garbage. That is an easy one because it is not a complicated billing system like water/sewer is here. 

RSVP is now full. Thanks for all who will be attending. Fun times ahead...

Hey there BPers. I'm sending an invite to Portland area BPers. RareBird is having our first annual Christmas Party and you're invited. This is a networking opportunity for local investors interested in Portland Real Estate, wanting to meet other like minded individuals. Details at the link below. I just ask that you RSVP. The space holds 100 people and RSVP is over 50 at this time. See you there. Informal atmosphere this time around, very similar to our summer BBQ event. 

http://myrarebird.com/event/rarebird-christmas-party/