I have been following this forum for over a year very passively and wanted to say hi. Reading through your stories has been very insightful and a great source of real state knowledge.
I currently own a couple of properties in the bay area and I’m contract for a multifamily property in the Portland area , anyone advice when investing out of state? Biggest challenges? Is it worth the effort for 5-6% return?
I’m trying to due my diligence of finding capable management, etc, but any advice or experience would be greatly appreciate it!
No. Only Hanera likes out of state property management. I had one friend get robbed by an out of state PM.
Our PM in Ventura stole a lot of money. Then he died. The farther away the higher the cap should be. Plenty of 8 caps in CA
I pretty much based everything on cap rate, is a 16-plex in portland metro, pruchase 1.7m (20% down) , when bringing place to market rents , I expect a 98k NOI before debt payment.
For what I have read this a normal cap rate in portlan 5%~, but I have been spoiled with stock returns in the past years especially tech.
@Edubravo works at google too so naturally like @tomato they are hyper sensitive about privacy. Because they know how the sausages are made inside the factory.
Going back to topic I have nothing to offer. I think it’s a great idea to diversify in different geographic areas though. Why Portland specifically? Don’t they have rent control up there?
Why? Why would people join if they can’t see what’s being discussed? You can always hide in lounge. There not even newbies like @Edubravo can see you. Unless they have some secret weapon in Google…
