a local chapter of
Tom Zeeb started from dead-broke and now uses Wholesaling to flip dozens of deals annually and live the lifestyle of his dreams: no 9-to-5 job, no debt, and unlimited time to spend with family, friends and travelling the world.
If you want to learn how you can do it too, then attend Tom’s 1-day “Wholesaling: The FIND the Deal, MAKE the Deal, GET PAID Workshop”. Tom will break the process down into its simple components and repeatable frameworks so that you clearly understand the process and can replicate it yourself for massive profits.
Tom will present "Winning the Negotiation Stack" at the monthly investors forum on Thursday, September 5th at 6:30 p.m. As usual, registration for members and trial members is free.
His FIND the Deal, MAKE the Deal, GET PAID Workshop will be Saturday, September 7th from 9 a.m. to 4 p.m. This event is also FREE for NWREIA members and $29 for non-members. Lunch will be provided!
REGISTER for the Thursday, September 5th Investors Forum here
REGISTER for the Saturday, September 7th Workshop here
Existing Home Sales Drop 1.9% in April
The National Association of Realtors is reporting that existing home sales were down 1.9% in march to a seasonally-adjusted annual rate of 4.14 million – down 1.9% year over year. Click here to read more.
New Single-Family Home Sales Down 4.7% in April
The U.S. Government is reporting that sales of new single-family houses in April, 2024 were at a seasonally adjusted annual rate of 634k, which is 4.7% lower than March’s revised rate and is 7.7% lower than one year ago. Click here to read more.
Local Market Monitor’s National Economic Outlook for May ’24
Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. Click here to read more.
Top 10 Most Expensive Zip Codes 2024
Realtor.com crunched the data to compile the 10 most expensive Zip Codes in the nation for home buyers, along with the single priciest listing in each one. Click here to read more.
Investor Home Purchases Up for First Time in Nearly Two Years
A recent report from Redfin says real estate investors bought roughly 44k U.S. homes in Q1 2024, up 0.5% from one year ago – the first increase since Q2 2022. Click here to read more.
Top 10 Counties with Greatest Number of Foreclosure Starts
According to ATTOM’s April 2024 U.S. Foreclosure Market Report, there were a total of 31,649 U.S. properties with foreclosure filings. This figure 4% lower than March and a 4% lower than one year ago. Click here to read more.
Survey 44% Said They’d Buy their Childhood Home – if they could!
A recent report from Zillow says 44% of Americans would buy their childhood home if cost were not an issue, however, only about half said they could afford it. Click here to read more.
States Losing & Gaining Population
We’ve seen a lot of data about people migrating around country to better economic climes. Today’s infographic illustrates the states that losing & gaining population. Click here to read more.
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Ready to get into the housing provider game but not sure where to start? Rent Perfect President David Pickron discusses the 3 critical steps to identifying your first property with first-time landlord and Rent Perfect Video Expert Kent Shelley. The Rent Perfect system helps investors become successful "lazy" landlords by managing efficiently with ease, starting with the initial application and background check, to leases and payment collection. Learn how to streamline your rental process at www.rentperfect.com.
VIDEO PODCAST: https://youtu.be/y5ebrYQBsgA
Oregon Housing and Community Services (OHCS) releases the 2023 Annual Report, “Building Oregon’s Future,” to show and highlight outcomes achieved throughout the state to meet the housing needs of Oregonians with low to moderate incomes.
“Building Oregon’s Future describes the progress that OHCS has made in delivering results on the strategic goals and challenges facing our housing system,” said OHCS Executive Director Andrea Bell. “The public has placed great trust in OHCS, and we are honoring that trust by delivering results that aim to make everyday life better for the people of Oregon.”
As the state’s housing agency, OHCS works across the housing continuum to help reduce poverty among Oregonians and increase access to safe, stable, and affordable housing. Some highlights from 2023 include:
The report features stories from Oregonians who have received housing assistance through OHCS and its housing partners, like Howard. Howard is an older adult who was able to receive a new manufactured home through the Manufactured Home Replacement Program. His new home is more energy efficient and structurally sound, ensuring he has a safe place to enjoy and live for many years to come.
About Oregon Housing and Community Services (OHCS)
OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of low and moderate income. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs.
Congratulations to our 2024 Board of Directors Election Winners!
Christian Bryant re-elected as President
Dick Uffelman re-elected as an Advisory Board Member
Chris Burdick and Natasha Hill elected as new Advisory Board Members.
Thank you to all members who voted and volunteered for positions.
In this Issue:
The State of Oregon announced that the 2024 maximum rent increase is 10%.
The allowable rent increase percentage for the 2023 calendar year WAS 14.6% if the increases were issued before July 6th. If issued after July 6th, 2023, the maximum allowable increase is 10%. Click the link below for more detailed information through Oregon.gov.
https://www.oregon.gov/das/OEA/Pages/Rent-stabilization.aspx
OEA will publish the maximum annual rent increase for 2025 by Sept. 30, 2024. That exact calculation will be the percent change from the CPI average for the September 2023 to August 2024 time period (most recent year).
The National Association of Realtors is reporting that existing home sales were down 0.7% in August to a seasonally-adjusted annual rate of 4.04 million (down 15.3% year over year). Click here to read more.
The U.S. Government is reporting that sales of new single-family houses in August, 2023 were at a seasonally adjusted annual rate of 675k, which is 8.7% lower than July’s revised rate and is 5.8% higher than one year ago. Click here to read more.
The U.S. government is reporting that privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,283,000, which is 11.3% below than July’s revised number and is 14.8% lower than one year ago. Click here to read more.
According to the latest U.S. Home Flipping Report from ATTOM, 84,350 single-family houses and condominiums were flipped in Q2, 2023 representing 8% of all home sales in the first quarter. Click here to read more.
According to Black Knight’s latest Mortgage Monitor, the total U.S. loan delinquency rate (loans 30 days+ past due but not in foreclosure) as at 3.17% in August, up by 4 basis points and is nearly a full percentage point below its 2015-2019 same-month average. Click here to read more.
Each month we post inflation data (CPI) from the U.S. Bureau of Labor Statistics. Recently we came across an interesting site that allows you to calculate inflation for any year as well as comparing the value of a dollar with various years. Click here to read more.
Jane Garvey says attitude can make or break you. We all have times in our lives where it is tempting to doubt ourselves and our abilities. Many of us also fall into the trap of externalizing control. It may be tempting to think we are a victim when people do something, intentional or not, that harms us. When others, or even circumstances, force a change to our routine our immediate reaction is sometimes to feel angry or put upon. No matter what is happening, you have the choice of your attitude. You have the ability to do better. Click here to red more.
Infographic: Statista says gas prices vary widely across the United States. State-specific costs for transportation and distribution can drive up prices, like in Alaska & Hawaii. However, state taxes also play a large role, for example explaining the price of gasoline in a high-tax state like California. Click here to read more.
It’s a scenario we are all familiar with, the rental car inspection process prior to receiving the keys. Think back to the last time you were asked to walk around the vehicle with your half sheet of paper with the car diagram on it, looking for any existing problems. To avoid getting charged for damages that aren’t your fault, you dutifully circle the car, notating every scratch and ding. Why does the rental agency require this? To protect their investment. Period. When it comes to your investment property, do you take similar steps to ensure that your property is delivered back to you in the same condition as when you rented it? The average car rental is 3 days and it is sometimes hard to remember what was there at the time of possession. Imagine how much more difficult it is to remember the condition of your much larger asset after a 3-year lease. Will you accurately remember every room, wall, faucet, light fixture, appliance, flooring and everything else?
Pictures and forms are great, but where do I store them so I can easily access them when my tenants decide to move out? Truthfully, the whole process is a pain and most landlords drop the ball in their move in, move out inspections, ultimately costing them money at the end of each lease. No one gets into business to lose money (at least not anyone that expects to last long as an investor). It’s not a question of should we do move in, move out inspections, but rather how we should do them.
As a landlord, for years I paid for damages created by tenants because it was easier to pay the bill than it was to fight over who was at fault. I realized that I had no leg to stand on because I had no real evidence. When something causes me pain, I look for a way to get rid of the pain. I became laser focused on creating a solution that would be both easy and effective. The result… Introducing MI-MO, Rent Perfect’s Move-In, Move-Out process, found inside your Rent Perfect Portal next to our other innovative products like tenant invites, online lease creation and more.
Here’s how it works: MI-MO starts with the new tenant receiving an invite through Rent Perfect to inspect the property. They inspect each room and accept everything that is in good working order. If something needs to be repaired, they take a picture of it with their phone and document the needed repair. They repeat the process throughout the home and after completion, you receive a notification to login to your Rent Perfect Portal and review their inspection. You have the option to either note the damage or fix the problem. Rent Perfect stores the inspection notes and accompanying pictures for the duration of your rental contract, no matter how long your tenant lives there. During your inspection of the property at move out you have photographic evidence of the condition of the property at time of occupancy. Find something wrong? Take a picture and it will automatically upload into the Rent Perfect system. You can easily compare the property condition and adjust the refunding of the security deposit based entirely on the difference in the property at move-in and move-out.
The whole goal is to prevent a situation where it is your word against the tenant. MI-MO will allow you to be transparent and your tenants will love that. Rent Perfect just took one more unnecessary fight away from the rental relationship game. I guess we can thank the rental car industry for doing something right.
About the Author
David Pickron has been a licensed private investigator for over 20 years, specializing in tenant screening for real estate investment owners and property management companies. His company, Rent Perfect, an Investigative Screening Company, helps clients onboard tenants from the initial background check to leasing and payment collection. You can learn more by visiting www.rentperfect.com or calling 1-877-922-2547.
We are making significant investments into additional education and networking opportunities for members, including investments into our membership recruitment and retention efforts.
Our Membership Committee, chaired by NWREIA board member Donni Phommany, will meet monthly to discuss ways to increase membership and bring value to members. Please email Donni @ donni.phommany@onqfinancial.com to join the committee and be eligible for 10% commission opportunities for recruiting new members and sponsors.
Additional member investments include more bus tours, educational roundtables (one for financing deals starting in November), and social events like our recent member happy hour.
Starting October 1, our investment in vendor memberships will be $750 annually or $75 per month.
Starting November 1, our investment in individual memberships will be $195 annually or $20 per month.
Northwest Real Estate Investors Association5434 River Rd N #371, Keizer, OR 97303contact@northwestreia.com managed by Sieng Enterprises
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