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How to Invest in US Real Estate as a Foreign Inves Blog

Thursday, July 25, 2019   /   by AJ Shepard

Should I Work With a REALTOR?

Before we get started, I am going to say that I am a REALTOR in the state of Oregon and I have an active Oregon Real Estate License.

Should I work with a REALTOR?

My answer is going to be "YES" every time I get asked but here is why:


1. A REALTOR has experience buying and selling real estate

- Buying or selling a home is usually a big decision to make, and REALTORS commit to a Code of Ethics that ensure the best service for our clients

- The more times someone practices a skill, the better they get. A doctor does a residency so they can serve their patients to the best of their abilities. Now I am not comparing a REALTOR to a doctor, but if you get hurt, you are very likely to seek out an expert's opinion on your injury. Same goes for investing a large amount of money into real estate. If you are planning on buying a property, I am sure you want to know that you are making a good decision before you sign on the dotted line.

- Negotiation is a huge part of buying or ...

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Thursday, July 25, 2019   /   by AJ Shepard

Is the Portland Real Estate Market Cooling Off?

I have had many people ask me, "How is the real estate market right now?,"

My answer is dependent on which side of the market you are interested in. For Buyers, the market is very competitive, especially in the $100,000 - $400,000 price range. For Sellers, the market data shows that it is a great time to sell your property. Currently, the Portland real estate market inventory number is 2.2, which means if there were no more houses listed for sale, it would take 2.2 months for all of them to sell. This means the market is in favor of sellers. An inventory number of 6 is considered to be a balanced market between buyers and sellers. Anything over 6 is considered to be a "buyers market," and anything under 6 is considered to be a "sellers market."

If you are wanting to buy or sell a house, it is important to work with a REALTOR that knows how to navigate the current market.



What do these numbers mean for you?


BUYERS

On the buyer side, there are many ways to structure ...

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Wednesday, July 24, 2019   /   by AJ Shepard

Simple Updates That Add Value: Bathroom Floor

Many people that are new to real estate investing think that saving money during the rehab of a property will help increase their profit. Whether the property is a flip or you plan on holding it as a rental property, investing in quality products for your rehab will increase the life of your asset. However, you do not want to put marble floors and gold plated door knobs in your investment properties. There is a happy medium when choosing how much to spend when updating your property.
The duplex I just bought had a leaky shower head. We looked at it and even had a plumber come look at it  because I could not find a solution to the leak. While Tim, the plumber, was fixing the shower I asked him to tighten our toilet as well. When he lifted the toilet we found that the toilet flange was completely rusted out, the subfloor around the toilet had rotted from the shower leak, and the vinyl flooring had been damaged. After finding all of these issues I decided to do the repairs myself. W ...

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Wednesday, July 24, 2019   /   by AJ Shepard

Understanding Real Estate Language

How many times have you been talking real estate and had no clue what your lender or Realtor is saying? You may know what some of the lingo means, but we are going over all of the main phrases and terminology today.

PITI: Stands for Principal, Interest, Taxes, Insurance and makes up the monthly payment for your loan. 

MI:  Stands for Mortgage Insurance. This is insurance securing your loan if the borrower puts less than 20% down when getting the loan. Usually mortgage insurance is removed from the monthly payment once a certain amount of the loan is paid off. 


Escrow: This is a neutral account that a third party oversees during a real estate transaction. Earnest money is deposited into this account and the seller is paid their funds out of this account once the sale has recorded and closed.


Earnest Money: These are funds that are deposited once an offer is accepted. Usually due within three business days after acceptance, these funds c ...

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Tuesday, July 23, 2019   /   by AJ Shepard

FAQs of Property Management

CLEANING
Tenants are entitled to a clean home upon taking occupancy. Oregon law states that when the carpets are professionally cleaned upon a move-in the tenant’s security deposit can be charged for cleaning upon the move-out. We ask that our owners please have the home and carpets professionally cleaned when vacated and hiring us. We can arrange to have the work done, as long as we have funds in the account to pay the bills as they arrive.
EVICTIONS
One of Owner’s biggest fears can be facing a contentious eviction process. While there are a few “nightmare” cases, the majority of the time a For Cause termination is simply due to a change in the Tenants’ fortunes, and they can no longer afford the rent. Through our Eviction Protection program, we contract with specialized attorneys to handle the process of filing the proper notice, the court appearance and the final settlement.  
FEES
In 2010 Oregon law changed so that owners can no longer charg ...

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Uptown Properties
Chris Shepard
3526 SW Troy
Portland, OR 97219
503-941-0276
Fairway Independent Mortgage Corporation
Mike Maier
5410 SW Macadam Ave, Ste 100
Portland, OR 97239
503-545-9879

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