Are you planning on investing in Portland Oregon Rental Properties?
If so, now is the perfect time to add more rentals to your portfolio of investment properties because, thanks to historically low mortgage interest rates, and demand for rental properties in Portland, it’s an ideal time to add more rental properties to your Investment Portfolio.
In this article, we will share with you several tips that you can use for finding real estate investment deals in the Portland Oregon area.
Tips For Finding Real Estate Investment Deals In Portland
Tip #1 – Connect With A Local Realtor – The first way to find real estate investment deals in Portland Oregon is to connect with a local real estate agent.
This step will save you the time and hassle of searching for real estate deals yourself.
Thanks to their connections, and access to the multiple listing service, an agent will have the ability to find the right properties for you based upon your search criteria so that you don’t have to take the time to look for investment properties yourself.
Tip #2 – Drive For Dollars – Let’s face it, one of the oldest and most time-tested ways to find real estate in Portland, or elsewhere across the United States, is driving for dollars.
This method is effective because some owners may end up not listing their properties for sale on the MLS so you may find one or more rental properties which may be vacant, or showing signs of obvious neglect.
In these cases, it’s best to write the addresses of these properties down then view the tax records for each property to find ownership information.
Once you find out who owns those properties, you can connect with them by mail, or phone, and you may be able to connect with at least one owner who is open to selling.
Tip #3 – Build Local Connections – If your goal is to invest in Portland rental properties but, you don’t live in the area, you may want to consider building some local connections here. This means that you should consider hiring a ‘bird dog’, or someone who has the specific job of searching for properties which may be for sale in the area.
Besides firing a ‘bird dog’, you should also consider connecting with the local mailman, FedEx delivery driver, and repairman in the area. These people are always on the ground and may be able to identify a multi-family or single-family homes in the area which may be for sale, or have owners who would be interested in selling them.
Tip #4 – Direct Mail Marketing – Another effective way to connect with owners in Portland, or elsewhere across the United States is Direct Mail.
Yes, this form of marking does take time, and effort, but direct mail is often more effective than email because most people are inclined to open up a piece of mail that’s in their hands compared to an email.
So far, we’ve offered you several ideas for finding real estate leads in the Portland area, some of the other methods that you may want to consider utilizing identifying pre-foreclosure properties, checking eviction records, and showing up on the courthouse steps for foreclosure auctions.
Hire A Property Manager
Once you invest in a new rental property, don’t spend your hard-earned time and money managing at yourself. Your goal should be to hire a property manager immediately because this will save you the hassle of property management and enable you to focus your time on growing your portfolio of investment properties.
At Rent Portland Homes, we specialize in full-service Property Management and can assist you with everything that you need including rental property marketing, rent collection, maintenance, customer service, and more.
To learn more about the property management services that we can offer you, contact us today by clicking here.