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All Forum Posts by: Sharon Beatty

Sharon Beatty has started 7 posts and replied 63 times.


@Mike Meerschaert

I don't have great advice but would love to follow this as you go through the process. We have a house in N Portland. We converted the basement to a 2 bd/2bth apt with separate utilities. Considering converting the 2nd floor to a short term rental and we'll live on the first floor.

Out of curiosity, where in North Portland is your duplex? Since I live here, I might know it!

Post: First Rental Property Acquired!

Sharon BeattyPosted
  • Posts 64
  • Votes 17

@Chris Nester, Congrats! My husband and I are at a very similar point in our real estate Journey. We bought a house 2 years ago and finished creating a basement apartment and rent it out at the beginning of May. We're thinking we might end up renting out the upstairs at some point in us living in a smaller place ourselves. We'll see there still lots of decisions to make. But I hope you and your wife went out and celebrated. that was a great success!

@Andrew Tupper, I had a friend that did this a little over a year ago. They tore down the garage and built a separate 2 story building, at 800 sq ft (the max allowed for an ADU). It cost them just over $140k. You should read Kol Peterson's book, Backdoor Revolution: The Definitive guide to ADU Development. He covers what building entails. I believe he mentioned that garage conversions are not necessarily cheaper because the foundations need to be shored up to be legal. Anyway, the book is worth the read. I hope that helps!

We use a local pest control company for our house, Morgan Pest Management. He told us that Portland has a high number of rats for the size of the city. It has to do with being at the intersection of two rivers and the shipping here. I'm not surprised the rats are becoming more visible with people staying home. 

@Steve Morris I'd love to get those stats as well please. I just sent you a friend request and can get you my email address when you accept

@Jeremy Barren. Welcome to the world of investing! And congrats on your upcoming Masters degree. My husband and I live in North Portland. We did a house hack successfully and will be looking at additional Investments next year ourselves

@Matt Zigler, We don't have a separate business account, just our personal. Is it ok to use that as a direct deposit? 

This is a newbie question - what service do you use to accept rent money when you're managing the property yourself? We're using a property manager right now for the basement apartment we just created in our house. It seems  like an extra step for communications, especially when we just live upstairs. I just don't want to accept checks if I can help it - do people use Venmo or are there apps out there specifically for rent collection? 

Thanks!