Tag: Duplex Investment

Adding to an Investment Legacy in NE Portland!

Posted on by Olivia Rush

Congrats to Matt and Angela on growing their portfolio. This one is so special in so many ways!

I was fortunate to teach Matt and Angela’s daughter for 4th and 5th grade over a decade ago. They have both dedicated their lives to education and improving the lives of young people. I was honored to be a tiny part of the village that raised their daughter.

Matt and Angela also understand the power of real estate. They purchased their current home in 2007, and over the years have acquired the house next to it, as well as the house next to that one! Matt has leveraged his handiness to renovate each of these homes himself – most often in the evenings after a full day teaching middle schoolers. (This is incomprehensible to me. HUSTLER.)

Matt and Angela have been eyeing the duplex across the street since they first moved in. It was listed in 2024 and they finally got to see inside. There was A LOT of work to do – but nothing Matt hadn’t dealt with before.

The property made zero sense at the list price – it needed to pencil. After analyzing sold and rental comps, we submitted our first offer – about $170K off the list price. The sellers accepted another offer, and Matt and Angela made peace with that.

I kept in touch with the listing agent, and nearly a month later, we got a call that the first buyers were terminating. We put in another offer, slightly higher than our first. The sellers countered back slightly higher, and we accepted JUST as those first cash buyers came back around with an offer that was $40K higher than ours.

This was a SCRAPPY transaction, but we got it done, $140K lower than the initial list price. They’ll get the nicer unit ready and rented and then turn their attention to the bigger project.

I’m grateful to have been a part of this family’s journey again, in a completely different capacity. Congratulations Matt and Angela for growing your portfolio, and cheers to building legacy!

#legacy #nepdx #investment #investmentproperty #pdxrealtor #pdxrealestate #portlandrealtor #portlandrealestate



House Hacking Success Story in North Portland

Posted on by Will Sing

I am thrilled to share a success story. It’s the story of Amanda and Shiv, a determined couple who embarked on a house hacking journey with dreams and a clear vision in their minds. Let’s dive into their journey!

The Dream: House Hacking in North Portland

Amanda and Shiv had been on the lookout for a golden house hacking opportunity for over a year. For those new to the term, house hacking involves buying a multi-unit property, living in one unit, and renting out the others to offset your mortgage. It was a dream they nurtured, and I had the privilege to guide them in this journey, equipped with my custom deal calculator to run the numbers meticulously.

The Find: A Duplex with Potential

Our persistent search led us to a promising duplex in North Portland. A place that whispered potential and promised a positive cash flow in just the second year! Yes, it required a bit of a nudge to enhance the rents, but nothing too daunting.

The Victory: Winning Against the Odds

In the competitive Portland market, we found ourselves up against another eager offer. But Amanda and Shiv had a winning spirit, and guess what? We won, securing a place that was more than a house; it was a canvas of opportunities.

The Inspection Period: A Time of Diligence

Entering the inspection period, we rolled up our sleeves, ready to delve deep into every nook and cranny. We scrutinized the property’s financials, keeping an eagle eye on the major issues. Our diligence paid off, securing a substantial $7,500 towards a new roof and a comforting home warranty to boot.

The Closing: A Happy Beginning

As we neared the closing, the joy was palpable. Not only did we secure the home, but we also managed to get a generous $9k in closing costs. Amanda and Shiv were all set to move into their new abode, ready to infuse it with their personal touch, one improvement at a time.

Conclusion

Today, Amanda and Shiv are happily settled in their unit, gradually transforming their space while enjoying the benefits of house hacking. Their story is a testimony to what determination, the right guidance, and a bit of house hacking savvy can achieve. Here is what they had to say:

Will was super helpful throughout the entire home buying process. He has a lot of knowledge about different types of housing options and knows the Portland area really well. He wants his clients to feel good about their purchase and we definitely do.

Inspired by Amanda and Shiv’s story and keen to start your own house hacking journey in Portland? Reach out to me at 📞 503-303-0822 or 📧 hello@agentlivinginpdx.com and let’s turn your home buying dream into reality!