Right now I’m up in Bend Oregon looking at potential real estate investment properties. I drove up here from San Francisco last Friday and will be here until the 28th. Oregon has really boomed (especially Bend) over the past several years and it shows. I remember coming up here years ago and seeing single family homes going for $250k. Now the same style is going for $450k.
More people are moving up here to retire
Investors bought up properties since CA or other west coast states are too pricey
Oregon was undervalued or at least perceived that way
Now I actually came up here looking for a vacation/rental home for myself. Something I could rent out 75% of the year via a rental agency and vacation the other 25% of the time. What I’ve found so far isn’t too bad assuming vacancy rates will stay low. There are also a lot of inventory since local owners are trying to cash out. That gives me the advantage and I can low ball on the offer.
How did I find property to look at?
I first narrowed down my search to a single location — Bend. I then hopped on the internet and printed out a list of potential properties. I called the realtor for each and setup time for showing. During the time I wasn’t looking at properties, I crunched the numbers to make sure everything worked. If the realtor told me vacancy rates are usually 25% I bumped that number to 35% and then did the math.
I’m still evaluating properties and should have a decision by this weekend.