Forum Replies Created
Light rail is not a failure, it is the way of the future, it needs to be paid for and will be paid for even if my pretentious neighbors in their suv's fight it tooth and nail, they don't want bus service either, it allows the riff raff access to our pristine community. Snobs
Jay
Your Hillsboro, Oregon development does not really represent urban sprawl, Hillsboro is its own entity, the development in blocks from the Hillsboro Airport. It is located in the appropriate area in that it is filling in gaps. It is areas west, Cornelius and Forest Grove that remain agricultural communities that are wary of Metro and are ready willing and able to be heard at town halls and in council chambers. Washington county commissioners need to be stout.
My house is 11 miles from downtown Portland, 15 minutes drive I-5, 25 minutes tops in"bad" traffic – I'm on a half acre. My school district provides a quality education mostly reserved for private schools, in fact LO charges tuition for out of district residents, our Foundation (PTA) generates more revenue to supplement the school budget every year than some larger districts can muster in a decade.
So… what do retirees have to do with anything? Most of them will have shrugged this mortal coil before twenty years time. Your development is a subdivision in the Tualatin Valley, it is a part and will be part of Hillsboro, It is not the city with the flavor of Portland,
In short, it isn't a choice between a house with a yard or living off a hallway. Your residential lots will be a fifth the size of my property and twice the distance to Portland. There are lots available in my neighborhood.I go to Portland or through it daily , residents in your development will work close to home shop and eat close to home will go to Beaverton. Portland will only be an occasional destination. A buyer is buying one lot, they are looking for value, large tracts of land converted to comprehensive new communities is too canned, too vanilla unappealing. Fortunately for those that cannot read the writing on the wall there is bankruptcy court, that statement does not apply to you and this development, in fact our Aussie colleagues would do well to invest in it ,.REALLY HERE IS THE LINK http://www.americanrealestateinvesting.com/ .Gee property sales seem slow today, I have time to be on this forum, I wonder why?Hi Neighbor,
New construction does compete heavily with existing stock., in some cases for the same reasons that Toyota and the Prius are doing better than GM/US Feds and the Hummer. Green is no longer extreme. "Eco" as a prefix no longer brings to mind hippies, its on every aisle of the Home Depot.
I feel that to say urban sprawl will continue as it has for the last 20 years is just wrong. It can't and won't. Fuel costs will most certainly remain high as we have reached peak oil production. All those projections of population growth to where really soon we will have bagillion people on the planet without adequate resources to feed them – not playing out that way.
Sub division living of the seventies is my lifestyle, in my lifetime. My son and his wife are bright (nearly too bright) young professionals (nearly he gets his Engineering degree this year) they seem to have no interest in living this lifestyle. If they want a city life and city careers they will live in the city. All the young people I talk too loath traffic, being in the car, and commuting. If they don't need to be in town because they can work remote – then remote it is. Kids today are more comfortable with technology than I will ever be.
Think about our culture and society as it is now with how it was those twenty years ago. Bank machines were free and were there to save banks money, dial up computer connections 56k, Starbucks,
Supply and demand, supply and demand, we are in a heap of *&%^$ with the economy, young people are more rightfully skeptical today than I was at their age, and I came of age in the Watergate era. There will be no demand for new subdivisions, the end of urban sprawl is nigh, good riddance.Thank-you John. Like most things, if your good at something it is easier. When I was an educator and counselor working with gang effected teenagers it was easy to get up for work and easy to feel good about what I did, the work…well, it was never easy but most of my college educated friends thought the job seemed impossible let alone difficult.If you are an effective PM then you are obviously taking to heart what people say in those exit polls and care about the conditions within which they live. in the long run happier tenants make fewer problems. and that in turn reduces costs and keeps the rent flowing and makes for happy owners. It is an old fashioned idea that good business keeps everyone happy not just merely satisfied. Your buildings likely have a good reputation, on the street where the renters lurk, and among owners. Keep up the good work'
Did urban sprawl lead to urban blight and is that as large a problem as it hasbeen made out to be in KC?.I obviously don't see eye to eye with Jay, just read the most recent posts here, however, Kansas City, really, I own a lot there. The author unknown in the above wrote
Property management is pretty easy for those that have the experience in dealing with tenants, and understand that you have to think like a tenant, not an investor. To toot my own horn, this is why I do exit polling, I can't think like a tenant without polling tenants, as I have not been a tenant for over 20 years.PROPERTY MANAGEMENT IS NEVER EASY THAT IS WHY OWNERS PAY GOOD MONEY FOR THE SERVICE, TENANTS ARE ALWAYS VEXING. Before becoming a homeowner I was a renter for the better part of two decades, several apartment in two states. I was vexing to the owners. It is easy to think like a tenant, Needs come first, if circumstances require me to move and my budget is tight then I gather my funds to establish my new place and make the move at the expense of rent and utilities. I may or may not feel bad about it and I may even hope to eventually make good. This is why tenants are required to pay last month's rent up front, is it not?
One last note, money spent on a bridge over Highway 26 to accommodate potential traffic on the outer west side would have been better spent on the Sellwood Bridge an essential artery…all done.
Walmart is in the process of filling what was the Lake Grove Natures. I'm still not an Intel fan. I think our discussion is becoming a bit esoteric , parochial, I can't say that I agree that this west side development will not effect Portland NW industrial or downtown.How will adding several thousand jobs and residential units not effect the entire region? Orenco Station does not effect downtown Beaverton? See my comment from Dec. 16, this type of project contributes to urban blight, in fact it is a definitive element in the process.
Thank-you. I am very familiar with the area, my best friend worked at Jackson Middle school and managed apartments a few blocks from this project. I have forwarded the link to the powers that be. I will say this though, Metro does not always make friends where it goes and there is organized opposition to it development plans. Farmers and family businesses surviving in these tough times are not hip to having industry and its effluent moving in next door. Growth, progress and the opportunity for investors to make a buck are not as high a priority as maintaining community dynamics. Also, this development will require roads to be widened, more traffic equals more traffic control. In short Metro's development plans will most certainly inconvenience the people already in place, certain businesses holding on by a thread won't be able to survive the construction period. A company like Walmart, on the other hand, can bank on the potential, build a store and operate at a loss for two or three years while jobs and housing are created. This is a classic "not in my backyard" issue. Portland area grows by about 40,000 people per year. Locals would prefer learning the lessons of our recent past and would prefer Metro stop encouraging urban blight by having a comprehensive plan to create a complete community 40 minutes from town when there are empty buildings and entire blocks available in the NW industrial district and half empty office buildings in downtown. These locations already have the port of Portland, is at the hub of the highway system (I-5), adequate roads for high volume truck traffic, and has integrated rail.
OK, the cat is out of the bag, I do not like Metro's plan. Politicians want more revenue from taxes, corporate CEOs want to build and maintain a company town. Many people believe that the politicians are working for the money and that lobbying, campaigning, graft, corruption and blatantly selling out has replaced common sense and public service for the greater good. Imagine that, where do some people get their ideas?
Intel through its aggressive hiring and firing practices has made enemies of ex-employees and vendors as well as competitors. Their campus is a shining example of transforming an area.
Be careful.I am in Portland and would be thrilled to look at a property here. The normal way we communicate with sellers is through this link
http://www.landtrustcompany.com/ there we provide a form to fill out with all the basic info so we can make a bid. Call me -I am in Pacific US time or contact me through the web site , my e-mail is here and there.There is what has been called the Small House Movement starting here in the US and its effects are going to have a major impact on the way people live in mid-west cities that have been subject to urban sprawl. Kansas City comes to mind, simply put there were no physical boundaries to prevent developers from building pleasant suburbs within a reasonable drive from town. People given the same pocketbook often made the choice to buy a new house and send their children to the new school,.. I'm sure the story is familiar to everyone, sorry.
It is truly an ugly situation to buy an apartment building and end up having to take your lumps and throw in the towel, but imagine how it would be to be the tenant that never paid late and perhaps took time to help decorate for the holidays. Moving sucks.
In a "pocket neighborhood" a developer builds individual tiny houses – from 350' sq. to 1350' sq.- and places them on small lots. The effect is great. I always come back to energy costs, these houses address that issue. Efficient living, more simple living, less work to maintain, having a space that meets your needs…I would love to have tenants that find this appealing. In this situation individual tenants aren't a bad apple, they are not abusing community resources such as utilities, and liability issues are less and insurance is less. Even if the developer decides to have an HOA and provide a recreation/community center the costs and issues will be less than in a conventional apartment building. The developer can also sell individual homes, or sets of homes, and could opt to lease them.
With tax incentives and ever lowering costs for energy efficient choices; new small homes, tiny homes and cabins are going to be a popular choice. At over $3.00/gal for gas that commute from the suburbs is a cost many (most) Americans will consider.
On a more personal note, my son will soon be getting his Engineering degree. When in high school he and his smarty pants friends did not seem to care about getting a driver's license or to work out how to get a car. Some more affluent families gave their kid's cars. It seemed parents wanted their kids to get a license so they would stop asking for rides, or so they could help with siblings or errands.With the emergence of the laptop, we may be seeing an end of America's love affair with the automobile. It is just as well for environmental reasons but honestly the American automobile industry has been far from lovable.
Anyway check out Tumbleweed Tiny House Co., Texas Tiny Homes and Ross Chapin Architects on-line to see a range of possibilities
.DHCP wrote:Risk??? What risk?! Ask Steve McNight, he bought 100s of properties from 10K to 20K in the US Last seminar I"ve attend with him, he showed the property he bought in Florida for 15K and hundreds similar properties like that he purchased some above 20K, others under 30K…so he went for quantity primarily which gives him HIGH yield. I have absolutely no problem emulating his approach.Again, every investors are different….different strategic and different goals to achieve. No strategic fit all. I rather put it this way, the investor is the risk, not the investment. Why? If you blend in with the local, knows the market well studied well, attend seminars, have good contacts on the ground etc., your chances of succeeding in real estate investment is HIGH.
On the other hand, if you are investor from remote location, have no contacts on the ground, done no market research about the target area, have not read any books about real estate investment, attended no seminars, have no contacts in the ground, the chances of succeeding in real estate investment is very LOW…hence you are the risk, NOT the investment. BTW, don't quote me on that, I heard that from Robert Kiyosaki, who's worth only billions of dollars.
If I owned hundreds of properties and or had a billion dollars, real estate investment really wouldn't be risky. The occasional stinker would be analogous to having candy pinched at the convenience store – its just a business expense, On the other hand, if your a small investor or just starting out then individual issues with a management company or a particularly vexing set of renters can really impact cash flow and capital.
I do not totally disagree with your entry. The point I would take is to understand that as stated above – real estate investment is a risk. It is about numbers first and there is a touch of luck. In the long run luck evens out. An investor needs to have adequate resources to absorb the inevitable "hit". Hope for the best but plan for the worst. Adequate volume and diversity of investment provide a safety net. Sometimes a deal seems like a "slam-dunk" (remember CIA Director George Tenet of George the Lesser's administration) other times the ground is deemed unfit for development (please refer to Disney World).
As with most things – if you work hard and have a talent you are likely to succeed. Golf is a game of luck the more you practice the luckier you get.Seems like a cruise ship without the water. Once "on board" you don't pay for anything. Hopefully the Pacific Northwest is in the itinerary. I'm sure we will hear more details as the dates get closer.
Portland metro is growing at 40,000 people per year, and this given that the Oregon economy never really recovers. Lumber and fishing are no longer the backbone of solid long term sustainability. Tourism remains solid especially with Tom McCall's legislation limiting development of the entire coast – yet the state does not have a sales tax.
Intel makes for an interesting neighbor. I've lived here for 25 years now and I promise , anyone that has lived here more than a few months knows someone that worked for Intel…but I digress.
The discussion to this point has been stimulating, however I would ask the community to think outside the box – so to speak. Just a few years ago Investors and the public were riding high, despite indications to the contrary, and bought SUV s , Hummers, muscle cars and burly trucks. Now that gasoline has doubled in price over the last 12 years, there are a lot more hybrids on the road. I maintain that the same thinking went into home building.
Here in Portland we have a project called Street of Dreams. Some chunk of farm land within 30 minutes of downtown Portland, and there are still quite a few chunks still around, gets developed with cooperation from the utility companies. Really large homes with three and four car garages, lots of brick and columns. Truly beautiful homes.
There are more truly beautiful homes in America than people that can afford to buy and maintain them. Isn't that what the mortgage crisis really means? These houses were built to last a lifetime, they aren't replaced as easily as a car.
My point, there are plenty of homes available in gated communities and on the upper end, that market is covered now and in the immediate future. What there is a market for is sensible housing. Renting is what it is and renters are vexing. Small ergonomically designed houses, built to suit , that apply 21st century technology will be more affordable. Energy costs .and availability are important concerns. Building in the community has many rewards, real stimulation of the economy.
Value.jayhinrichs wrote:by land on lineSo there are business's that do nothing but scoure the country buying these properties and then remarketing them by selling them on contract and they a make a living collecting the monthly cash flow…. There is a good market for cheap property by and large that people will think hey for 5k 500 down and 50 a month I own a property.
Now not all properties like this are unbuildable but a very large % are that is why they are let go for tax's and thats why you can buy them for these prices. And in the old days when buildable lots where 100's of thousands buying these little cheapies was appealling.
I for one am a big proponant of buying land. However I only buy land that I know can be built on or is clearly in the path of progress like my Oregon land holdings.
But if someone wanted to stick their toe in the US water as it were you could search a few of the properteis out from a company like this gentlemens do some good research on if they are buildable under current zoning and health codes and it could be a good way to have yourself something that is no hassle.
Just always keep this in mind in the US you can definatly own a property but you definantly do not have the right to build on said property by the fact that you own it. It must meet city and state zoning and health codes. And these codes change over the years.
The biggest issue will be on site sewage systems. There are counties in CA like Sonoma county that its next to impossible to put septic systems on a smaller property. I know I own 2 ocean view lots at Jenner by the sea and if they were built on in the 50's there would be a house there today but today you cannot get a septic approved. CA is working on some new septic rules but who knows how long.The history lesson is valuable, I personally inherited a 5 acre parcel in Lucern Valley California, desert. It had been presented as a soon to be developed subdivision where you could live your wild west fantasy. This was in the 1950's and indeed the development was a fantasy – my father received it from his elderly friend for back taxes in the 80's then it became mine. It was unsellable, until Bally Fitness and a theater chain corner-stoned a strip mall at the intersection of Apple Valley Road and The Pearblossom Highway. When the power grid and other utilities reached out into the desert to that point, tens of thousands of acres suddenly went from zero value to +/- $5000/acre.
With Google Earth, the internet and my telephone I can determine which properties are solid choices when buying. Most vacant land is buildable, some may require engineering. Honestly it would take about 10 minutes of actual work to determine from a given county if there are building restrictions on a given parcel. Local real estate agents can also let you know if a given street or area are compromised by environmental issues, bad neighbors or blight. This is the 21st century, you can build almost anywhere if you are willing to pay to do so. Spending $40K to put in a well and pump may be daunting – but it does represent a potential money maker. Once you bring water to the surface, your property and your neighbor's land becomes more valuable. If your well is deep and expensive, then your water will be less expensive to buy than it would be for your neighbors to get their own.
In short it is true companies in the US buy properties for pennies on the dollar as described above, but with the recent readjustment in the US market, IE crash, there are a ton of properties available. These companies buy and sell many parcels, why would they, we, want to buy a stinker? Buyers are gold, we want testimonials, referrals and repeat business, all companies in competitive business in a tight market do. If a company finds out one of their properties is not worth the dirt it is, then they are better served to sit on it – put it on the back burner – sell it to a next door neighbor or wait until urban renewal or civilization corrects the issue.
Be wary of businesses that have no history or an obscure one, they may be a shell attempting to unload "swamp land". On the other hand, if a company has been in business and survived through the last 5 years, through recent events, then the company's owner is reputable and likely has a keen eye.There is no substitute for being on the ground, property ownership requires some hands on time regardless of property management companies, their stellar reputations and promises. The more developed the property the more operating/maintenance costs, the more liability and insurance costs as well as government agencies and codes and lawyers. This is clearly because there is money involved, after everyone's cut you have profit. Clearly also the greater potential return comes with a higher risk. Renters are vexing at best.
J.Smith wrote:TIP,
Always do research. You can never do enough research. A lot of people dive into the property market head first and blind folded, and that’s when people make bad purchases. If you like a property, find out about the surrounding area; find out the local crime rate, find out how much properties in the area recently sold for. Find out EVERYTHING. There are tonnes of websites out there that will give you all these details at no cost.J.Smith
One of the tools I use every day is Google Earth. I can view properties and in most urban and suburban areas in the U.S.A. – take a virtual drive down the street.
That is a very good tip about checking all the information and facts provided by real estate agents… remember they are only human and can make mistakes, plus they only make money when they sell property, so why would they ever tell you not to buy a property? Even though they represent the buyer or the seller their business is to make the deal happen.
