I am an agent in Central Oregon, and there are a lot of good investment properties around here at good prices. Check out this listing of mine which rents for $850 a month and the renters would like to stay:
Please let me know if you would like me to email you some other listings in Central Oregon that may be a good investment for you. Prices are pretty good right now, and its a great time to buy. Have a great day!
Selena McNeill, Broker
Century 21 Gold Country Realty
They are hard to find. This is one of the top markets in the US as held up by todays Wall Street Journal.
The question is do you want a great deal in a bad market or an ok Deal in a strong market. Properties in and around Portland do not cash flow very well. Not much different than The Bay Area. But there are some.
You can buy homes in Phoenix brand new for $90,000 that will rent for $1000 and that same home in PDX would be $240,000. To me it is all based on risk and return. Also the appreciation rates are gone in most all markets and may not return for years. So why would somebody want to buy an investment that does not cash flow and does not appreciate? They wouldn't.
And that is the new paradigm we are in. Having said that there are some great buys that are out here coming in at 10-30% below value. Portland is still the best value on the West Coast by a mile and I think has room to move up sooner that the rest of the Country....same applies to Seattle.
I have a duplex coming up next week in a great area for $225,000 that has $1500 in rents. There is an owner contract on that and I think it can throw off some decent return after tax benefits.
Call me if your interested in that. I also have some great land deals where we can actively split land and that generates nice upside. I would need to know more to advise you but this is some realistic feedback.
Dirk T Knudsen
Re\Max Hall of Fame
#1 Rated Re\Max Team in Oregon