Even when buying a fixer property, three of the most important factors are… location, location, location! This holds true throughout the Portland real estate market.
Never underestimate the advantages of buying a fixer property in a great location. The key to a great deal is finding the least expensive, most run-down house on a street of well cared for homes in a nice desirable neighborhood. There are many pockets of neighborhoods around town that feature homes like this including Cedar Mill, Cedar Hills, Rock Creek, West Haven, and Burlingame on the west side of Portland.
Drive around these neighborhoods and get a feel for them. Then start your search looking for lower priced homes on nice streets that are within walking distance of parks, schools, shops, and restaurants.
If you get a great deal on a fixer in a nice neighbohood, but it backs up to an apartment complex or a busy street, you’re not going to get nearly as much return as on a quiet street a couple blocks over.
Tags: Fixers, Investing, Real Estate
