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All Forum Posts by: Steve Morris

Steve Morris has started 0 posts and replied 3933 times.

Post: Absolutly Crushing it with New construction

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Man, am still amazed at how strong the residential market is.

Move quick is my advice, stuff changes.

Think Canby is hotter growth than Portland proper or West Linn (where I live) or Yamhill county (where I'm moving into a now-VRBO)?

Post: DETERMING SEC 8 VOUCHER RENT

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377
Originally posted by @Jennifer Donley:

@Jake Drappi, hang on here - there's a lot that goes into determining rent.  

Generally, Section 8 rents strive to be even with market rents.  

I'm assuming there is NO LURA requiring him to verify income, so he can ask whatever he wants as long as he tells all applicants the same.

Whether the H/A can reach or not is their decision to say Y/N, but they know they need to be close to market so that may mean fewer vouchers they give out to be able to reach market.

Post: House Hack - House with unpermitted rooms but cash flows well

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Biggest issue is if you EVER pull a permit that needs an inspector, they're looking for code violations all the time since they have a quota (I think I'm kidding).

Eventually, you're going to need to bring it inline with code and longer you wait, the more expensive since they're making new lines of code daily at the planning dept.  They catch you, odds are they want you in compliance with ALL current code.

Might be worth getting a contractor that is disinterested to take a look and give you an idea.

Then again, you could threaten to rat out the seller for a bigger discount :)

Post: I want my mom to gift her house to me, so I could leverage it?

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Well, if you have a great relationship, just do a Bargain & Sale Deed to get title (in OR) for no consideration.

However, you need to think a couple of things:

1) Qualifying to assume the loan if she's not making payments and you're the new title holder AND

2) Tax impact of a "gift" that size from your mother - Call a CPA.

Not getting why you just get something like a Transfer on Death (or equiv) and make the loan payments and be nice to her (to maintain the relationship).

Post: Looking for a lender for a house under contract

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Well, get on the phone and start calling banks.  You have a relationship (ie lots of deposits or long-term accounts) with a bank?  Call them first and tell them everything up front to save you time.

Post: Looking for real estate agents who work primarily with investors

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Congratulations for being there for us.

Post: MLS Access for Non-Agent Investors in the Dallas Area

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Well, good luck. I'm pretty sure (at least in OR) that MLS ONLY allows licensed known agents in a firm that pays for MLS access.

Re-selling access to you would be death penalty for that broker with regards to MLS.

Why not just tell the broker what you want?  They have automated searches that can send regular updates.

Post: Seeking MHP Acquisitions Person

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Not clear, am a broker in OR and know some owners.  

Are you looking for MHPs or stuff that could be MHPs?  Why COARE instead of the 5 guys that own and have money to buy here?

Post: Need covid / eviction / section-8 attorney San Mateo county Ca.

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Good luck, landlord rep attys are busier than H in OR, even without the ability to get a FED for non-pay.

You got anything else they stepped off the lease besides non-pay?

Post: Selling a Balloon Payment.

Steve MorrisPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 4,039
  • Votes 2,377

Umm, OK so how much Jason Dillard want to teach me this mastery?

I really wish posters would include that info.