a local chapter of

northwest real estate investors association


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  • 02/20/2024 1:15 AM | Anonymous

    Congratulations to our 2024 Board of Directors Election Winners!

    Christian Bryant re-elected as President

    Dick Uffelman re-elected as an Advisory Board Member

    Chris Burdick and Natasha Hill elected as new Advisory Board Members.

    Thank you to all members who voted and volunteered for positions.

  • 10/01/2023 10:55 PM | Anonymous

    Download the latest nationalreiaNOW

    In this Issue:

    • Successful Real Estate Investing is Like a Jigsaw Puzzle
    • Your Perfect Landlor Experience Starts with Approving the Right Tenant!
    • ODP Lowers Free Delivery Minimum to $20!
    • Legislative Update

  • 10/01/2023 10:54 PM | Anonymous

    The State of Oregon announced that the 2024 maximum rent increase is 10%.

    The allowable rent increase percentage for the 2023 calendar year WAS 14.6% if the increases were issued before July 6th. If issued after July 6th, 2023, the maximum allowable increase is 10%. Click the link below for more detailed information through Oregon.gov. ​


    ​​​OEA will publish the maximum annual rent increase for 2025 by Sept. 30, 2024. That exact calculation will be the percent change from the CPI average for the September 2023 to August 2024 time period (most recent year).

  • 10/01/2023 10:54 PM | Anonymous

    Existing-Home Sales Down 0.7% in August

    The National Association of Realtors is reporting that existing home sales were down 0.7% in August to a seasonally-adjusted annual rate of 4.04 million (down 15.3% year over year).  Click here to read more.

    New Home Sales Down 8.7% in August

    The U.S. Government is reporting that sales of new single-family houses in August, 2023 were at a seasonally adjusted annual rate of 675k, which is 8.7% lower than July’s revised rate and is 5.8% higher than one year ago.  Click here to read more.

    Housing Starts Crater in August

    The U.S. government is reporting that privatelyowned housing starts in August were at a seasonally adjusted annual rate of 1,283,000, which is 11.3% below than July’s revised number and is 14.8% lower than one year ago.  Click here to read more.

    Flipping Activity Drops but Profits Rise

    According to the latest U.S. Home Flipping Report from ATTOM, 84,350 single-family houses and condominiums were flipped in Q2, 2023 representing 8% of all home sales in the first quarter.  Click here to read more.

    Black Knight Says Early-Stage Delinquencies Continue to Trend Up

    According to Black Knight’s latest Mortgage Monitor, the total U.S. loan delinquency rate (loans 30 days+ past due but not in foreclosure) as at 3.17% in August, up by 4 basis points and is nearly a full percentage point below its 2015-2019 same-month average.  Click here to read more.

    Calculate the Value of $1 Dollar over the Years

    Each month we post inflation data (CPI) from the U.S. Bureau of Labor Statistics.  Recently we came across an interesting site that allows you to calculate inflation for any year as well as comparing the value of a dollar with various years.  Click here to read more.

    Attitude Adjustment

    Jane Garvey says attitude can make or break you. We all have times in our lives where it is tempting to doubt ourselves and our abilities. Many of us also fall into the trap of externalizing control. It may be tempting to think we are a victim when people do something, intentional or not, that harms us.  When others, or even circumstances, force a change to our routine our immediate reaction is sometimes to feel angry or put upon. No matter what is happening, you have the choice of your attitude. You have the ability to do better.  Click here to red more.

    Where Gas is the Cheapest & Most Expensive

    Infographic:  Statista says gas prices vary widely across the United States. State-specific costs for transportation and distribution can drive up prices, like in Alaska & Hawaii.  However, state taxes also play a large role, for example explaining the price of gasoline in a high-tax state like California.  Click here to read more.

  • 10/01/2023 10:53 PM | Anonymous

    It’s a scenario we are all familiar with, the rental car inspection process prior to receiving the keys. Think back to the last time you were asked to walk around the vehicle with your half sheet of paper with the car diagram on it, looking for any existing problems.  To avoid getting charged for damages that aren’t your fault, you dutifully circle the car, notating every scratch and ding.  Why does the rental agency  require this?  To protect their investment.  Period. When it comes to your investment property, do you take similar steps to ensure that your property is delivered back to you in the same condition as when you rented it?  The average car rental is 3 days and it is sometimes hard to remember what was there at the time of possession.  Imagine how much more difficult it is to remember the condition of your much larger asset after a 3-year lease. Will you accurately remember every room, wall, faucet, light fixture, appliance, flooring and everything else?

    Pictures and forms are great, but where do I store them so I can easily access them when my tenants decide to move out?  Truthfully, the whole process is a pain and most landlords drop the ball in their move in, move out inspections, ultimately costing them money at the end of each lease. No one gets into business to lose money (at least not anyone that expects to last long as an investor). It’s not a question of should we do move in, move out inspections, but rather how we should do them.    

    As a landlord, for years I paid for damages created by tenants because it was easier to pay the bill than it was to fight over who was at fault.  I realized that I had no leg to stand on because I had no real evidence. When something causes me pain, I look for a way to get rid of the pain.  I became laser focused on creating a solution that would be both easy and effective.  The result… Introducing MI-MO, Rent Perfect’s Move-In, Move-Out process, found inside your Rent Perfect Portal next to our other innovative products like tenant invites, online lease creation and more. 

    Here’s how it works:  MI-MO starts with the new tenant receiving an invite through Rent Perfect to inspect the property.  They inspect each room and accept everything that is in good working order.  If something needs to be repaired, they take a picture of it with their phone and document the needed repair.  They repeat the process throughout the home and after completion, you receive a notification to login to your Rent Perfect Portal and review their inspection.  You have the option to either note the damage or fix the problem.  Rent Perfect stores the inspection notes and accompanying pictures for the duration of your rental contract, no matter how long your tenant lives there.  During your inspection of the property at move out you have photographic evidence of the condition of the property at time of occupancy.  Find something wrong?  Take a picture and it will automatically upload into the Rent Perfect system.  You can easily compare the property condition and adjust the refunding of the security deposit based entirely on the difference in the property at move-in and move-out.

    The whole goal is to prevent a situation where it is your word against the tenant.  MI-MO will allow you to be transparent and your tenants will love that.  Rent Perfect just took one more unnecessary fight away from the rental relationship game. I guess we can thank the rental car industry for doing something right.   

    About the Author

    David Pickron has been a licensed private investigator for over 20 years, specializing in tenant screening for real estate investment owners and property management companies. His company, Rent Perfect, an Investigative Screening Company, helps clients onboard tenants from the initial background check to leasing and payment collection. You can learn more by visiting www.rentperfect.com or calling 1-877-922-2547.

  • 10/01/2023 10:53 PM | Anonymous

    We are making significant investments into additional education and networking opportunities for members, including investments into our membership recruitment and retention efforts.

    Our Membership Committee, chaired by NWREIA board member Donni Phommany, will meet monthly to discuss ways to increase membership and bring value to members. Please email Donni @ donni.phommany@onqfinancial.com to join the committee and be eligible for 10% commission opportunities for recruiting new members and sponsors.

    Additional member investments include more bus tours, educational roundtables (one for financing deals starting in November), and social events like our recent member happy hour.

    Starting October 1, our investment in vendor memberships will be $750 annually or $75 per month.

    Starting November 1, our investment in individual memberships will be $195 annually or $20 per month.

    Thank you for your continued investment in NWREIA. We are here to help your business grow.

  • 10/01/2023 10:52 PM | Anonymous

    Did you miss our first Thirsty Thursday Investor Happy Hour?? 

    We had a great time, as you can see above, at the Prime Tap House West End in Beaverton. We networked, shared success (and horror) stories, and ate delicious wings.

    Our members enjoyed free drinks and appetizers. Stay tuned for our next happy hour on the last Thursday of the month.

    We are also recruiting for new board members! If you have been a member for at least two years and are interested in serving, please email NWREIA Vice President Dave Metsker at primefinancial@frontier.com

    We are proud to continue as the largest organization for real estate investors in the Portland/Vancouver, Willamette Valley, and Northern Coast areas.


  • 07/05/2022 9:25 AM | Anonymous

    Working For You & Our Industry

    I hope that you had a nice 4th of July with your family and friends!

    Last month, I was honored to travel on behalf of NWREIA to the National Real Estate Investors Association mid-year leadership conference in Milwaukee, Wisconsin. Along with me was our executive director, Patrick Sieng. Together, we recruited national speakers who will plan to come to our monthly investor forum meetings to educate us on how to make money! We also solidified connections with our vendor members who provide us with deep discounts - including Home Depot, Arcana Insurance, Rent Perfect, and Office Depot. To learn more about these benefits, please login to the members area on our website or click here.

    The market continues to adjust from rising interest rates and inflation. This is a prime time for investors and NWREIA will continue to provide our members with prime opportunities to network and be educated on what's coming.

    In addition to our many roundtable meetings around the region, please join us next month for our main investors forum meeting where Aaron Kirk Douglas from HFO Investment Real Estate will present a "Market Update for Investors." We'll hear the latest on rents, vacancy rates, population changes, submarket highlights, and transaction volume. Don't miss this important meeting.

    As always, please let us know how we can work for you.

    Best Regards,

    Christian Bryant

  • 01/15/2022 12:29 PM | Anonymous

    Courtesy of NWREIA Preferred Vendor IRC Enterprises

    Read the full article here.

    With more than 435 million dollars distributed, the federally funded Oregon Emergency Rental Assistance has been a necessary relief to many tenants in need. Even though so many Oregon tenants have received financial assistance, there still remain others that are at risk. In response, the OHCS has announced a limited reopening of the OERA portal for 3-5 weeks beginning on Jan 26th, depending on availability of funds. Although it is unlikely that remaining funds will be sufficient to pay all applications expected to be received once the portal opens, the OHCS will continue to prioritize applications based on need.

    You can find more information on local agencies at https://caporegon.org/who-we-are/the-community-action-network/. For more information on Oregon’s Rental Assistance Program, visit their website at https://www.oregonrentalassistance.org/additional-assistance/

  • 03/15/2021 12:27 PM | Anonymous

    Courtesy of NWREIA Preferred Vendor Merchants Mortgage

    In the US, house flipping activity is rising. And no wonder, considering the average gross flipping profit in Q2 of 2020 was $67,902.

    But how much does it cost to flip a house? Well, that’s a tricky question… When budgeting for a flip, any number of variables can negatively (or positively) affect your perfectly balanced spreadsheet. For example, when purchasing a house to flip, you may need several hundred thousand dollars or almost no money upfront. The house’s location, condition, and your credit score all impact how much money you’ll need. Keep in mind that no two projects are exactly alike, so your costs will vary from project to project.  You’ll never know exactly how much money a flip requires until you’ve completed the process, but estimating as accurately as possible is critical. Keep reading to learn more about the costs associated with house flipping and how to finance your first flip.

    Cost of Purchasing
    There’s no one-size-fits-all formula to estimate house flipping costs. There are personal preferences to consider, as well as unpredictable variables to take into account. And, as no two properties are alike, the cost of a flip will vary from market to market—as well as property to property. The cost of flipping a house depends on too many variable expenses for investors to come up with a comprehensive answer. However, there are general expenses that cannot be pinpointed. You must work these into your budget—even if you don’t know exactly how much they will be.

    There are several costs to consider when buying a house—not only the initial price. The purchasing cost is a combination of several expenses—the highest of which is the purchasing price. However, other charges you’ll incur include:
    • Paying off liens
    • Property taxes
    • Title search fees
    • Commissions
    • Insurance

    When buying a house, you have to pay property taxes while you own it, as well as taxes on short-term capital gains on any profits. Federal short-term capital gains are taxed at the same rate as personal income. Some states will also take a cut off capital gains taxes, but you will pay federal tax no matter where you decide to buy.

    When you include rehab and repair costs, the cost of flipping a house increases dramatically. Renovation costs are often the hardest to estimate, as a typical rehabilitation could have anywhere from a few reno and repair costs to countless expenses. While you shouldn’t rush renovating your house flip, you don’t want the house to sit around on the market too long. For this reason, look for a property that will only take four to six weeks to rehab. Owning a house for less than two months helps you keep costs such as interest and taxes at a minimum. The key to your success is to find contractors who do quality work efficiently. So, do your due diligence before onboarding one. Don’t make the mistake of going with the first contractor you find, but interview at least a few. Ask for the license number, references, and an estimate. Further, be wary of contractors who ask for money in cash upfront. They’re not playing by the rules and may try to run off with your money.

    To give you an idea of what renovation costs you should expect, let’s go over some everyday renovation expenses throughout a house flip.

    • Interior Construction — If you’re hoping to flip a house as they do on HGTV, the interior is where you’re likely to spend most of your rehab money.
    • Paint — Your rehab budget should always include interior paint, no matter the project. A single coat of paint can transform an entire home.
    • Flooring — Your most economical option for attractive & functional flooring is installing laminate, luxury vinyl, or simply refinishing existing hardwood that’s already in place. While you may have thought of installing new, true hardwood, that will drive up costs. Other alternatives include engineered hardwood (top layer is hardwood, bottom layer is composite material). Be thoughtful in your analysis of flooring costs & the most practical material to use. 
    • Appliances — Appliances make or break kitchens, so it’s crucial to buy nice ones for your flip. Appliances you’ll buy may include an oven, range, range hood, refrigerator, microwave, and dishwasher.
    • Kitchen — Your kitchen rehab will include countertops, cabinets, plumbing, backsplash, sink, garbage disposal, electrical, faucets, and other amenities.
    • Bathroom — Bathrooms are of interest to buyers, so spend some time buying fixtures that complement the home. Deck out the bathroom with a sink, faucet, tub, shower, vanity, countertop, towel bars, lighting, and mirrors. Don’t forget basic plumbing and electrical.
    • Framing — Don’t let framing be an afterthought. If you leave it out, you may upset your entire budget. Account for additional framing or walls that may need to be torn down.
    • Insulation — Always properly insulate any home you renovate. It will attract more buyers because it makes the house more energy efficient.
    • Doors and Trim — Doors and trim are relatively inexpensive and can transform the look of a project. Upgrading doors is an easy way to add interest.
    • Walls — Your budget should account for any damage to the house’s walls and ceilings. When complete, your flip should not show signs of wear and tear.
    • Exterior Construction — “Curb appeal” isn’t just a real estate buzzword. It’s your potential buyers’ first impression of your property, and it can mean cash in the bank. Take the following expenses into account when crafting your reno budget.
    • Roof — While it’s not always necessary, replacing the roof can be well worth the money. A new roof will always increase curb appeal if you have the means to replace it altogether.
    • Siding — If the house you’re flipping has siding, you may have to repair it, if not replace it altogether.
    • Masonry — Most stone and brickwork requires repair, so factor in small fixes into your budget.
    • Windows — It doesn’t matter how much you add to a home if you leave it with old windows. Replace windows if need be—this could potentially present huge results.
    • Painting — Every renovation can benefit from a nice, fresh coat of paint when the work is done. Don’t skimp in this area if you want to make a return on investment.
    • Landscaping — When all of the rehab is finished, think about the landscaping that will surround the home. You’ll want to spend a little money here to highlight the curb appeal you worked hard to achieve.
    • Concrete and Asphalt — Is the house’s driveway cracking, or worse, are their potholes to address? This is something you’ll want to fix, so make sure you budget for concrete and asphalt repair.
    • Fences, Pergolas, and Decks — If the home you’re renovating has any wooden amenities, such as fences, pergolas, or decks, those will need to be repaired—or at least stained or painted.
    • Mechanical Construction — Last but not lease, don’t leave out mechanical construction costs when you are budgeting for your flip. HVAC units, water heaters, electric wiring—all of this is essential to a home. It will show if you don’t spend money here. Many older homes need entirely new electrical panels, while others will require rewiring throughout the house.
    • Holding — Holding costs are the expenses that incur while the property is in your name. Simply keeping the property up and running requires cash, and investors know this.  These expenses won’t take much of a chunk out of your budget, but every good budget takes into account each and every cost. The more accurately you can estimate the cost of your renovation, the more money you stand to make when you sell. This is why having a solid plan and timeline in place is essential.  Examples of holding costs include:
      • Loan repayment fees
      • Utilities
      • Insurance
      • Property taxes
      • HOA FEES
    • Selling — Unfortunately, the spending doesn’t end after purchasing a house and renovating it. You’ll need to factor in the costs you’ll insure from selling the home, as well. When you enter into a flipping project, don’t forget to add selling costs as you calculate the cost to flip a home.
      Selling costs are the culminatikon of several expenses, including:
      • Real estate commissions
      • Attorney fees
      • Property taxes
      • Marketing
      • Escrow
      • Miscellaneous fees

    When all said and done, the cost of selling a house can amount to several thousands of dollars. You can’t forget to factor these into house flipping costs.

    Financing a Flip
    Are you still asking yourself, “How much money do I need to flip a house?” Most investors will tell you to set a goal to make a 10% to 20% return on your investment. So, you’ll need to do the math. Research to determine how much your property will sell for when you’re done by looking at comparable properties in the same neighborhood. If you find that a move-in ready home in your area sells for $200,000, lower that price by three-quarters for a run-down property (75% of $200,000=$150,000). Then, subtract the cost of repairs (if you estimate $30,000 for repairs, then $150,000-$30,000=$120,000). In this example, you shouldn’t pay more than $120,000 for your flip to walk away with a decent amount of money.
    If you’re wondering how to get a fix and flip loan, speak with a private investor. A fix and flip loan is generally easier than buying a home the traditional way. They’re popular with people renovating and selling houses who prefer not to go through the trouble of taking out a 15- to 30-year mortgage.

    Please feel reach to reach out to us with any questions or if you’d like to inquire about financing a fix & flip loan. In the meantime, take care.

    The Merchants Mortgage Team

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