All Forum Posts by: Trent Werner

Does anyone have an IRR calculator for Multi Family syndications?

I am looking for recommendations for an IRR calculator that can be used to calculate asset performance over the course of us owning the property, and calculate investor returns.

@Wesley B Williams HAHA dang! I was really interested to hear an outsiders' perspective. At least I learned that there is an area in Louisville named Portland. I did not know that before today!

Hey BP,

I am curious how people are finding good deals right now. I am on multiple wholesale lists and have seen a handful of deals come out recently but am curious if anyone knows where to find good multifamily deals right now. The MLS is full of overpriced multifamily listings and none of them pencil. Does anyone have access to rehab/fixer deals that they are willing to share?

@Wesley B Williams I am interested to hear more about your recommendation to avoid Portland, OR. I am interested to hear an out of state perspective on the Portland market as I have not had a chance to talk with many out of state investors about Portland. Louisville does seem like a solid cash flow market for investment real estate!

Casey,

Portland crime rates have increased in certain areas. There is no denying that. However, the Portland Metro Area is still a great place to buy investment real estate because the appreciation rates mixed with rental rates make for a great return. If you plan on holding your investment properties long-term, Portland is a great market to be in.

Eric,

I am a born and raised in Portland, OR and own 10 rental units here myself. Portland definitely has some "strict" landlord- tenant laws, but I am a huge fan of the Portland Metro area for investment real estate regardless of the laws that we have here. Portland is a "hybrid" market because you can still find deals that will produce positive cash flow and still get to benefit off the great appreciation that we have here! If you are weary of the landlord-tenant laws, I recommend having a property management company do the daily activities so you do not have to spend hours trying to keep up with the rules and regulations that are constantly changing here.

As a small multifamily owner myself, I highly recommend finding a deal in the Portland Metro area. 

@Zach Davis Did you sell because of the market or did you have tenants that were not paying rent?

Hey Cielo,

Welcome to the Investor community! I have seen a lot of cash buyers getting into dilapidated properties (nothing new as these are typical wholesale deals) but I have also seen more tenant-occupied properties popping up from my wholesalers. In my opinion, investors that have tenants that are not paying rent has led to more investors wanting to liquidate these properties quickly so they don't have to deal with tenants that are not paying rents. 

In short, investors that have tenants that are not paying are dealing with the uncertainty that comes with it. People are unsure what Kate Brown will do with the moratorium and believe there is no end in sight. 

What are your thoughts on Portland, OR right now? I am curious what my fellow BP users think of Portland, OR right now. I definitely have my own opinions about the current state of Portland but want to know what you think. How do you feel about the government officials, pandemic related impacts on the local economy, "urban camping" issues, and of course, the real estate market? 

I have seen the urban camping situation get out of hand and it does not seem like much is being done about it. We are approaching 70% vaccinated, which in theory, means pandemic restrictions will be lifted completely... I also think the real estate market has leveled off slightly since I am seeing fewer deals closing for absurd prices. It seems like investors are searching for off-market deals right now. Personally, I am looking for a primary residence to purchase with my wife but refuse to pay $50k over asking and have been exploring wholesale/ off-market deals. 

@Jeff S. I understand where you are coming from! Have you considered St. Helens, Newberg, or Salem area? I think these areas have good deals where prices are lower and still pencil out on 12 month leases.