All Forum Posts by: Taj T.

@Eman K. aw, makes sense.

@Derrick Aragon has mentioned in this forum a few times that he does contracting work in Portland.  He may be able to point you in the right direction.

Best of luck with the flip, Eman!

Taj

Hi @Eman K.,

The flipping market is tougher in Portland right now, mostly because of the level of competition that you see in the area.  Many RE investors and RE companies have discovered the area and are driving up prices on what is already a limited supply.  With that said, I'm sure you can still find some potential flips - the margins will just be tighter (in my experience).  You can still find some lower priced flip opportunities in deeper East side Portland - albeit with less upside, generally.

I'm just curious - what draws your interest to Portland as an LA investor?

Best of luck!

Taj

@JR Hinds thank you for the heads up on the date change. I may end up being out of town for a conference that weekend, but I hope to make it!

Taj

This looks great - I'll be there.  @Chris Parrish - thank you for the heads up!

Dan Drazba Thanks again, Dan, I'll shoot you a note!

Dan Drazba Really great information here - thank you, Dan! Can I ask why you ended up tearing down the garage to build the ADU instead of using the existing structure/framing? Just curious. I really enjoy working with Umpqua Bank too, by the way. They have some great loan programs and MLOs. This other question just popped into my mind.. does anyone have experience building an ADU on the lot of a multi family dwelling? Wondering if 1) this is allowed and 2) what the allowed structure details are (sq footage, etc)?

@Kelvin 

@Kelvin Lee Solid insights - much appreciated, Kelvin. I am leaning towards multi, too, unless I can find the right property with a lot that makes sense for an ADU (and the financials work out, per your note).

I'll be sure to stay connected on this - I'm sure I'll have some learnings from this process, too.

@Derrick Aragon Thank you.  I'll connect with you and see about chatting further on this topic, if you're up for it.  I'm always curious to hear outside perspectives on Portland properties.

@Kelvin Lee Thank you for the information, Kelvin. You're always helpful and knowledgeable in these areas. Yeah, that $/sq. ft. seems high - that wouldn't pencil out amazingly well. I have been trying to find properties that have a lot that would make sense to build an ADU on, instead of just trying to squeeze one into the backyard (ex: large side lot), to try to combat the issue of lack of privacy. It will be a long term investment.

Have you found that ADU laws in Portland are fairly reasonable for people in our situation?

@Derrick Aragon Thanks for the note, and $100k sounds like a more reasonable range.  What is the typical sq footage of the ADUs that you build?  Are they typically 2/1's?

Hi All, I'm an investor from the Eugene area, looking to get started with investing in Portland (I just moved up). My preference would be to find a solid multi property, but inventory seems to be very low in this category. I'm looking into the option of buying a single fam primary and building an ADU as a rental property on the lot, or turning a basement into an ADU. Does anyone have experience dealing with the Portland ADU laws in this manner? Successes, failures, other thoughts? Thanks in advance! Taj