PURCHASING A PROPERTY IS DOWNRIGHT EXCITING
Whether buying a home or investment property for the first time or the tenth time, it signals growth and change. Setting your intention helps bring clarity and lays the foundation for success. I like to think of any real estate purchase in an outdoorsy sense: we formulate the roadmap to get to basecamp, to camp 1, and eventually to the summit. The planning process is complex, but together, we can scale mountains.
THE IDEA: SET YOUR INTENTION
Having a clear picture what you want and how you're going to attain it lays the roadmap. What does this entail?
Get your finances in order. How much will you have for a down payment, inspections, and moving costs? Do you need to have a chat with an accountant for tax purposes (think capital gains and 1031 exchanges)? How will you finance your purchase: cash, privately, or conventionally? If you're going conventionally, finding a mortgage broker is paramount. They will help you get pre-approved and on your way. Creating the roadmap is one of my favorite steps along the way...
BASECAMP: DEFINE YOUR GOALS & MOTIVATION
Begin to visualize the end result and answer some important questions. What do I love about my current house? What needs to change (more yard, less traffic, bigger lot, better schools)? What type of home do I want to buy: new construction or antique? Do I want an investment property? If so, two to four units or more? What is my price range? Am I willing to put sweat equity into my purchase?
Portland is 145 square miles, and it also has lots of neighborhoods with nooks and crannies to explore. Think about where you want to live or own an investment property. Do you want to walk to the grocery store, your child's school, and the park? Do you want to be close to bike streets, the MAX line, and bus stops? Do you want to be surrounded by single-family homes or a mix of multifamily houses and the like? The answers to these questions will guide your investment property purchase.
CAMP 1: LET'S MEET! COFFEE IS ON ME
I love to talk about the power of home and property ownership. I also love to dig into the details: putting together a dynamic team to serve your needs, focusing on the tasks at hand, negotiating to find the win-win, and enjoying the process along the way. I have grown my own rental portfolio, helped others do the same, and founded Portland's best property management company.
My mentor talked about sharing more moments with your friends, family, and community. I have taken this advice to heart. I endeavor to make your purchase process as pleasant as possible so that you can share more moments with the people you care about.
I love what I do and hope to be part of your story.