By Mel Marzahl, May 28, 2019
I love working with investors, but this family was just the sweetest! My clients, Pat and Mike, decided to buy a home for their adult children to rent back from them. Pat and Mike, live in Colorado, but their son and daughter live and work here in Portland.
The Plan
Cara and Sam, “the kids”, met with me in our Alberta Office to talk about what the family’s plan was. The kids would be touring the homes with me and identifying the best ones. They would ast as the “eyes” for their parents, Pat and Mike, who would be purchasing the house. The would buy the house as an investment property and rent it back to the kids.
The House
The type of home the family was looking for has some divided space. The kids are grown, with their own lives, and needed a home where they could have their own spaces. Because of this, we looked at homes where there were bedrooms and living room areas on different levels. Some of these homes had a separate apartment, some had a finished basement, and a few just had unique layouts that provided the separation they were looking for.
The house they bought was perfectly divided. The main floor had two bedrooms, one of which had been opened up to the living room. The basement was finished with a bedroom, bathroom, and living area with wet bar. You could also access the stairs to the basement from the back door, allowing the downstairs extra privacy.
Why It Works
This plan works out great for this family. The parents found a great investment property in a growing area (Foster-Powell). They could expect their home to appreciate over time, gaining equity. The kids found a house they could live in together, with their own spaces. The family would also be securing the kids a place to live where their rent wouldn’t go up while rental prices increase throughout the city.
Is an investment or rental property right for your family?
There are so many ways families can help each other with housing, while also making a smart investment. Parents buying homes for kids in college to rent, or siblings buying duplexes, single people buying houses with an ADU to rent in the backyard, etc… If you’re like Pat and Mike, and want to invest in Portland real estate, give me a call! I can help you identify a great place that will meet your family’s needs too.
Congrats Pat, Mike, Sam and Cara on the new house!
(Oh congrats to Dudley, the handsomest chocolate lab/most fun roommate, too!)
Mel Marzahl
Broker | OR
She/Her
Raised in the Pacific Northwest, Mel became a passionate advocate for homeownership and investing in real estate after buying and selling her first home. What drew her to it was realizing the significant financial impact the right investment property can make and learning how much having a home to truly call your own can improve your quality of life.
Her specialties are working with first-time home buyers and sellers yet she is fluent in all aspects of residential real estate. She is trained extensively in real estate negotiation, holding both the CNE (Certified Negotiation Expert) and RENE (Real Estate Negotiations Expert) designations. Mel knows that with all the technology available to buyers and sellers, one of the best skills a REALTOR® can have is knowing how to be a collaborative negotiator to get the best outcome for their clients.
After a decade-long career working in operations and client service for creative companies, Mel earned her Broker’s license and made the move to real estate. She listens to her client’s needs and aims to treat everyone involved in a transaction with honesty and integrity. She loves getting to know her clients, their wants, and needs to ensure they get the highest level of service Mel is known for.
Mel brings creativity and an eye for detail to the table with a background in art and events. She enjoys a remodel or renovation project, has a soft spot for old craftsman homes, loves helping first-time buyers, and educating her clients on the selling and purchasing process. She believes in staying up to date on market trends, technology, and tools available to real estate agents. This gives her an edge when it comes to marketing properties and communicating with her clients.
When Mel is not working in real estate she is volunteering with the Red Cross, gardening, hosting dinner parties, or relaxing at home on Bull Mountain with her husband, son, two big dogs, and a handful of chickens.
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After a decade-long career working in operations and client service for creative companies, Mel earned her Broker’s license and made the move to real estate. She listens to her client’s needs and aims to treat everyone involved in a transaction with honesty and integrity. She loves getting to know her clients, their wants, and needs to ensure they get the highest level of service Mel is known for.
Mel brings creativity and an eye for detail to the table with a background in art and events. She enjoys a remodel or renovation project, has a soft spot for old craftsman homes, loves helping first-time buyers, and educating her clients on the selling and purchasing process. She believes in staying up to date on market trends, technology, and tools available to real estate agents. This gives her an edge when it comes to marketing properties and communicating with her clients.
When Mel is not working in real estate she is volunteering with the Red Cross, gardening, hosting dinner parties, or relaxing at home on Bull Mountain with her husband, son, two big dogs, and a handful of chickens.- T: 503-443-5382
- mel@livingroomre.com
