If you are new to real estate investing in Portland, there are many things you need to know. The key to knowing your Net Operating Income is knowing the actual expenses. Some of the expenses include insurance, property management, advertising, lawn care, maintenance costs, and vacancy costs.
Some expenses you may not think of but you’ll need to account for are: hidden maintenace costs (like a new roof in a couple years, or the water main breaks); tenants who are behind on payment when you buy an occupied property; HOA fees (the numbers look great until you account for the $125/mo fee; utilities - if you are responsible for them.
These are just a few things to think about when purchasing income property. Remember, the key is to have a investment property that makes you money and not an investment property that you have to feed each month.
If you are looking for a real estate investment property or fixer in Portland give me a call or send me an email. I can provide you with the latest listings for Portland real estate investment properties.
Tags: Investing
