portland: My client wants to write you an offer today!!!
- 10/03/09 08:30 AM
My intent with this site is to create an area where readers can learn about multifamily real estate and the market in general. Rarely do I commercialize the site with information about a specific opportunity. I depart from that with this post as there is an investor who urgently needs your and my help. He has an exchange ID date rapidly approaching. I've also included some of our other investors who are ready to buy and looking for projects. Help me out!!My partner Robert Poe and I am working with several clients whose needs range from "Highly Urgent" down to … (0 comments)
portland: Are You Ready To Sell?
- 04/23/09 08:45 AM
I need your help. I've to talked to property owners, brokers, title companies...but nobody seems to know of any properties for sale that fully meet the needs of one of my clients. He has no 1031 or 1033 Exchange deadlines to worry about...but he does have cash sufficient to purchase 60 to 80 quality units in the Portland area. Wilsonville doesn't hit his sweet spot...nor does Gresham or much East of I-205. Vancouver is possible...West and Southwest PDX would be winners. He's willing to pay a fair price for quality. He takes real pride in ownership: fixer-uppers are not his thing. This is … (0 comments)
portland: Another Reason To Be Bullish On Portland's Multifamily Market
- 04/15/09 03:54 AM
One of the metrics to look at when picking an area for a long term investment is the affordability index. And by that I don't mean looking soley at how much the median income is in an area...I mean: Average Rent/Median Household Income = Affordability Index. (What portion of your pay goes to rent?) It's great that some investment counselors track Median Household Income (MHI), but without the context of average rent for that area we really don't have a way to evaluate areas that have long-term rent expansion capability. An obvious example is New York City. Clearly the MHI is higher … (0 comments)
This isn't even my listing...but I'm making good on my commitment to find great deals for my investors. This NE duplex is a great value: for under $165k you get two residences for less than the normal price for one. My faithful readers know that I eschew residential multifamily in favor of commercial multifamily due to the usual lack of cashflow. On most plexes you have to put huge downs just to keep from having an alligator to feed monthly. As such, many entry level investor's feel their sole option is to live in one side and rent out … (0 comments)
portland: Good News For Portland: Major Green Manufacturing Expansion
- 03/23/09 04:24 AM
SolarWorld Group not only reaffirmed their commitment to the Portland area, they're increasing their investment in a major way. So reports Brian K. Miller in today's Globe Street: HILLSBORO, OR-SolarWorld Group said Friday it plans to expand its five-month-old, 480,000-square-foot operation here with a new 210,000-square-foot building. The existing building serves as a production facility for the Germany-based solar panel manufacturer. The new building, slated for completion in November, will be primarily a distribution facility. "We are fully committed to not only marketing the proven renewable energy of photovoltaic technology in the United States but also manufacturing it here," Boris Klebensberger, SolarWorld's … (0 comments)
portland: People Would Move To Hell If That's Where The New Jobs Were
- 02/25/09 04:28 AM
Look at current and future job growth as key factors when evaluating a market for multifamily purchases. To research opportunities I have traveled to Reno, Albuquerque, Phoenix, Seattle, and Los Vegas. Without exception job creation/population growth seemed to be the common fundamentals that told the tale. It seems that folks would move to hell if they could get a job. That's why I'm so strong on Portland. We've seen good job growth on a consistent basis here for years and the promise of the future is for the pattern to continue or accelerate. For those that are dour about the current multifamily market...remember that … (0 comments)
portland: CCIM Meeting To Offer 2009 Multifamily Market Projections
- 01/05/09 01:53 PM
FOCUS ON MULTIFAMILY: Mr. Mark Barry will be the featured speaker at the Portland CCIM's monthly luncheon on January 7, 2009 at the MAC Club. His focus will be current local apartment trends and 2009 projections. With over 4,000 appraisals completed, he is widely held as the leading apartment appraisal specialist in the area; Mark's opinions carry great weight in the commercial real estate community. TIME: 12:15 to 1:30 PM on Wednesday, January 7, 2008. Luncheon is open to all: Members $35/Guests $45; $5 off early registration. LOCATION: The Multnomah Athletic Club is located at 1849 SW Salmon St. At over … (1 comments)
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Rick M. Bean
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