I recently came across this article that talked about the top 10 markets for investors, and Portland was ranked No. 2 on that list. It really got me thinking about what investors are looking for and what are some of the things that we need to think about for investors when they’re buying in Portland.
Our prices have appreciated quite a bit, so it can be a great market if you can buy in as an investor. Investors are quite competitive and are usually cash buyers, but the No. 1 thing that I see that trips up investors the most is that they’re looking at the property like they’re going to live in it. This is especially true for new investors who have made profits elsewhere and have cash to spend or investors coming in from other U.S. markets or overseas.
To look at a property like an investment, you have to really look at the numbers. Will you see a good return on investment and cash flow? What do the numbers say? If you’re going to come out in the black, then it makes sense to proceed. If you aren’t, then you just need to pass on the property.
If you’re not looking at the numbers and you’re just looking at the views out the windows or the way the building looks, then you’re not going to fare well. When you’re looking at investment properties, it’s not as personal of a decision. Treat this as a business and not as an emotional decision.
If you have any questions about this or any other topic, please give me a call or shoot me an email. I’d be happy to help!