So you wanna get started investing in Portland and you’re checking things out, eh?
Good for you. Always do your homework and you won’t get schooled.
Here’s some great tools that we’ve found and we use from time to time and great real estate investing resources in Portland for investors here locally to tap into for quick research on your investment deals.
The best thing is most of these sites below are completely free!
Here’s a few sites you should get to know:
1. Zillow
Zillow is the biggest, baddest real estate website on the block. They are building data on real estate wealth like few other sites.
The CEO of Zillow, Spencer Rascoff, said their company’s best asset was their “living database of all homes”.
The Zestimate tool is off, as a lot of folks have noted. It’s fun to see what the computer calculates, but you still gotta know how to analyze the comps and evaluate the market for yourself.
Spend a lot of time on Zillow and get to know the intimate details of each property sold in your target Portland neighborhoods. Really try to identify the psychology of the prices, and seek to understand why the seller and buyer picked that point to settle.
Remember, each sale is like a tiny piece of a moving puzzle that makes up the whole market.
Zillow is an awesome tool for investors to get to know their markets.
2. Craiglist
Craigslist stands out as a remarkable platform, presenting tremendous opportunities for savvy users willing to invest time exploring the site. Within the vast landscape of Oregon, significant deals abound, concealed behind poorly crafted advertisements for genuinely excellent properties. This phenomenon occurs consistently, with poorly written ads masking the true potential of great properties. The reality is that even the most promising properties might receive only a single subpar advertisement, emphasizing the need for diligent scouring and meticulous examination to unveil the hidden gems scattered throughout the platform. It’s an ever-evolving landscape where the discerning eye and persistence can lead to the discovery of remarkable real estate opportunities.
3. LoopNet
LoopNet is the granddaddy of commercial real estate investing.
You wanna sell a gigantic freakin building to institutional investors, this is the site you want to list it on.
Sometimes there are great deals on LoopNet, but you’re competing with every other investor to find them. If you are a Grade-A investor working with a top broker, you’ve got a chance to win the bid and seal the deal. This is not the site for rookies.
LoopNet is a great place to learn about the market in Portland and see how the major money is moving. You’ll be surprised what you can learn, so start searching through the properties for sale and watching where they close.
4. Auction.com
As implied by its name, Auction.com serves as a comprehensive hub for a diverse range of auctions, encompassing foreclosures, REOs, short sales, distressed properties, land, new construction, and an array of other real estate offerings. The platform stands as a versatile marketplace, catering to a broad spectrum of property types.
Be sure to explore the auction calendar diligently, considering a visit to some of the auctions hosted in Portland. The dynamic environment of auctions not only provides an opportunity to explore a myriad of real estate options but also opens doors to potential connections. Engaging in these auctions could introduce you to valuable contacts, potentially leading to future collaborations or business partnerships that might significantly enrich your real estate ventures. The unpredictability of auction events adds an element of excitement, making it a worthwhile avenue for both property exploration and networking opportunities in Portland.
5. Realtor.com
The largest place to search the MLS (multiple listing service), Realtor.com is sometimes confusing and often doesn’t seem consistent with what data it displays.
But it’s got some neat search alerts and other tools that help you get alerted when a broker in your neighborhood ha
Positioned as the primary hub for scouring the Multiple Listing Service (MLS), Realtor.com, although expansive, occasionally poses confusion and exhibits inconsistent data displays.
However, its features include intriguing search alerts and additional tools designed to notify you when a broker in your vicinity adds a new listing. While these digital functionalities provide valuable insights, fostering a solid relationship with a competent Realtor holds more significant weight if you are genuinely committed to real estate investment. A dedicated Realtor can offer personalized guidance, insights, and a tailored approach to your investment goals, surpassing the capabilities of a website alone. Building a strong, professional rapport with a skilled Realtor enhances your investment journey, making it a more informed and collaborative experience beyond the offerings of the website.
s added a listing. If you’re serious about investing, you probably want to form a good relationship with an excellent Realtor, rather than just the website.
6. Walkscore
Most investors overlook Walkscore.com – a big mistake.
Walkscore tells you a ton about any given address. It tells you how a potential renter or buyer will evaluate it – what’s nearby and how long it takes to access.
It’s also a fantastic tool to target areas that are underpriced for their amenities. If an area has a really high walkscore and low prices, chances are good that prices will rise in the next few years. There’s big exceptions – but walkability is a really key factor in Portland investment.
Those tools will help you to understand the Portland area market, if you take the time to use them. Do your homework, and understand the market before you start dumping your hard-earned money into a property.
You can always give us a call (503) 893-9107 – we love to partner up with investors, and we’ve got great terms.
If you’re looking to access to local Portland investment properties, great!