As active real estate experts in Portland OR, we get asked for advice by people looking to start to investing in real estate.
How can you find good investment property in Portland OR?
With less foreclosure deals on the marker compared to a few years ago, people are having to get more creative to find the best deals on great local Portland investment properties. We source our properties from a variety of marketing routes. There is no one way that is the best way to find good investment properties in Portland.
The information below walks you through some ways to find great properties to add to your investment portfolio.
Most investors are afraid of competition
That’s not how we work. We work with other investors to accomplish things together that we can’t do alone. We share our learning and our philosophies because we want to improve the quality of investment in Portland to build stronger communities. Ultimately, we’re all investing in the same places, so it makes sense to do it right. There’s a few core principles that are important to understand if you want to get the best investment property deals.
First, think long term.
Real estate doesn’t move like the stock market. It’s where people live, work, and play – not just numbers on a screen. It’s almost impossible to make a huge amount of cash in a short-term real estate deal. Don’t expect to get away with fancy tricks. Thinking long-term means learning from the past to better anticipate the future. It also means that it’s okay if you don’t find the local investment properties you’re looking for right away. That’s why it’s a great idea to find several sources of properties that fit your criteria (like our Portland Investment Property Buyers List >> ) so you have a heavier flow of great deals to look at.
Second, focus on relationships.
The investment community in Portland is much smaller than most people think. There are only a handful of brokers and investors who conduct most of the business in the market. They’re used to working with the same people on a regular basis. It’s worth the time and effort to find them and learn from them. If you can, work with them. They’re your best source of good deals, now and in the future.
How do you get to know them? Go to your local REIA. Find the people who are active and talk to them. Ask them which real estate agents they use, what wholesalers in the area are active (and get their info), and let everyone you can find know that you are looking for investment properties that fit your criteria. Learning how to find good investment property in Portland isn’t difficult. Relationships can be a key element in getting some of the best deals on properties that no one else has access to in the Portland OR market.
Who should you get to know?
- A few of the top investment friendly real estate brokers in Portland
- A couple real estate appraisers who deal with the same types of properties as you
- The top handful of property wholesalers in the area
- The top handful of property rehabbers / flippers in the area
- Title agents that deal with investment properties often
Third, identify your target investments.
Investment is like many other aspects of life – the people who are the most focused often succeed the most. You have to find your niche. Some people make millions dealing exclusively in parking garages or storage units. Others specialize in residential apartments, while others deal strictly with retail. If you take the time to do your homework, you can analyze the different segments of the market to see which opportunities are truly the best for you as opposed to just the best marketed. Once you find exactly what you want to own, you can create a plan to find out who owns it and make sure that they know to call you when they want to sell that property.
This takes a lot of work, but it’s a tried-and-true method for creating long-term wealth.
Finally – use technology.
Sign up for our list of exclusive properties, and we’ll notify you instantly when we find a great investment.
We frequently source properties for deep discounts, secure them, and then sell them for a discounted rate to the people on our list who are ready, willing, and able to invest. There’s other ways to get notified about properties on the open market. You should get familiar with searching the multiple listing service.
We only pass along great deals to our partner investors. We’re not real estate brokers, and our business is a niche within Portland. If you’re looking to invest in Portland, we’d love to chat with you to learn your wants, wishes and objectives. Hopefully you now know how to find great investment properties in Portland. If you have questions give us a call or join our buyers list below!