I love LA but it’s a big world.
No, I’m not moving, I really do love Los Angeles. This is an investment story. I’m excited to have recently purchased an investment property in Portland, Oregon. Portland is a great city! There is solid industry with major companies having their headquarters located there. Intel, Adidas and Air B&B are some recognizable namesand there are well over 1200 tech companies making Portland home. This has lead to the nickname of “Silicon Forest”. What this meant to me was that there are jobs! And speaking of forests, nature abounds! There is skiing close by, stunning hike and gardens, it is just over an hour to the coast, the Willamette River is beautiful, and after a day of fun there is wine country to explore! Personally, I appreciate the politics and their city planning is trend setting.
Portland is great but this is a story about investing in real estate, so lets talk numbers. After repairs I will have paid $500,000 for two units. My loan is $400,00 at about a 4.75% interest rate so payments are approximately $2600 a month. These units are in a very popular area, about 10 minutes to a burgeoning downtown and should rent for a combined $3800. (I’m using round numbers for ease.) Not a bad return and not including appreciation. This will be a long-term investment for me. I also bought over the holidays so, based on comparables, this is a good price already!
So what’s in this blog post for you? My hope is to open minds to the potential that exists in real estate investing. Investment opportunities abound but I find many are overly complicated or come with heavy fees negating much of the return. I really do love Los Angeles, especially on a warm sunny afternoon in February as I type this, but the above scenario is nearly impossible in my fine town. If you are looking for somewhere to stash some cash I encourage you to look beyond your immediate surroundings or your savings account with its paltry interest.
If Portland sounds interesting to you, I’m happy to share more about my experience with you and I was very happy with my realtor and lender if you would like a connection.
If you may be looking for real estate investments, a second home or thinking of downsizing/upsizing elsewhere than our sister company, Leverage Global Partners, has you covered! We are connected worldwide through an exclusive network of boutique real estate firms that have been carefully chosen for their innovative leadership and peerless integrity. We have relationships in 17countries with 279 offices and 5,316 agents. If I may help with an excellent and vetted referral worldwide then please, just ask!
And of course, if you are looking to purchase or sell here in Los Angeles give me a call!