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Old 03-25-2015, 09:47 PM
 
10 posts, read 13,954 times
Reputation: 11

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I'm interested in investing in either a multi-family or single family residence property. I'm looking for the greatest return on investment & an ideal community.

My budget is $170,000 & a duplex or foreclosure/fixer 3+ bedroom single family is most likely within my grasp. I prefer a bit of land for growing veggies/fruits with RV parking.


My requirements;

*Healthy town economy with stable current job market poised for future growth

*Population 5,000+ & healthy rental market

*Town not dependent on 1-2 main job industries, diverse employment options

*Not high crime/high drug use/high pollution

*Amenities in town such as grocers, entertainment, transportation, farmers' markets, hiking/trails, shopping

*Live & let live mentality & eco-friendly community for the most part. Vegetarian/vegan friendly (Trader Joe's)

Considering;

Eagle Point
Hillsboro
Gervais
Willamina
Dallas
Sweet Home
Cottage Grove
Corvallis
Medford
Eugene
Salem
Ashland

Do these areas fit what I'm seeking?


Thank you for all your suggestions :-)
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Old 03-26-2015, 08:35 AM
 
Location: The beautiful Rogue Valley, Oregon
7,785 posts, read 18,823,925 times
Reputation: 10783
From a Southern Oregon perspective:

Ashland is out of your price range (by about 2x). Medford is out of your price range unless you are willing to live in some of the dicier area or out of the city area proper. Eagle Point is probably doable. On the other hand, Southern Oregon in general probably doesn't fit some of your wish list. Historically higher unemployment than the Portland - Salem - Eugene corridor and the job diversity isn't great. Pockets of crime and poverty. There are some good grocery stores, farmer's markets
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Old 03-26-2015, 09:09 AM
 
Location: Salem, OR
15,575 posts, read 40,425,076 times
Reputation: 17473
Quote:
Originally Posted by truthbetold247 View Post
I'm interested in investing in either a multi-family or single family residence property. I'm looking for the greatest return on investment & an ideal community.

My budget is $170,000 & a duplex or foreclosure/fixer 3+ bedroom single family is most likely within my grasp. I prefer a bit of land for growing veggies/fruits with RV parking.


My requirements;

*Healthy town economy with stable current job market poised for future growth

*Population 5,000+ & healthy rental market

*Town not dependent on 1-2 main job industries, diverse employment options

*Not high crime/high drug use/high pollution

*Amenities in town such as grocers, entertainment, transportation, farmers' markets, hiking/trails, shopping

*Live & let live mentality & eco-friendly community for the most part. Vegetarian/vegan friendly (Trader Joe's)

Considering;

Eagle Point
Hillsboro
Gervais
Willamina
Dallas
Sweet Home
Cottage Grove
Corvallis
Medford
Eugene
Salem
Ashland

Do these areas fit what I'm seeking?


Thank you for all your suggestions :-)
Gervais-No
Willamina-No
Dallas-No
Sweet Home-Not even close
Corvallis-You can't afford
Salem-You can't afford.

I don't think you can afford Ashland, Eugene, or Hillsboro either. $170k doesn't get you far in Oregon when you want those other things.

You can live in Dallas and Willamina for $170k but you won't get the other things.
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Old 03-26-2015, 12:11 PM
 
4,059 posts, read 5,618,677 times
Reputation: 2892
Agree with the others. Nothing in Oregon jumps out as viably meeting all or even most of your requirements at once. You're asking for a lot with not a lot of money to put on the table for it given high regional prices.

For perspective, there are only 12 Trader Joes in the entire state, and 7 are in the PDX metro. In half of those you'd be lucky to get a condo for 170k, much less a multi-family property that will generate income with land attached. In the others 170k might get you a SFH (particularly a fixer), but on a small lot. And if your budget is reliant on rental income to make the numbers work, I don't see it as super likely.

You can buy a multi-family home in Klamath and a few other places around the state cheaper than 170, but those places are typically not a fit for what you're asking.

Last edited by bler144; 03-26-2015 at 12:22 PM..
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Old 03-26-2015, 01:35 PM
 
Location: North Idaho
32,643 posts, read 48,015,234 times
Reputation: 78406
I just saw an ad for a tri-plex in Prineville for about $180,000. Unless it is falling down and next to a pig farm that is an excellent deal. It looks like it is right in the middle of town.

There are huge multi-national computer companies moving into Prineville. Les Schwab has it's main warehouse there. Shopping, including a Trader Joes and Costco, is in Bend, about 30 miles away. There are lots of outdoor recreation activities available.

It's a lot colder and drier than the areas you are considering.
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Old 03-26-2015, 02:05 PM
 
4,059 posts, read 5,618,677 times
Reputation: 2892
Quote:
Originally Posted by oregonwoodsmoke View Post

There are lots of outdoor recreation activities available.
Interesting suggestion.

Though I'd caution those aren't 30 interstate miles (40-50 min each way in good weather) and the OP may not find Prineville itself to be particularly vegetarian/vegan friendly. While it's growing (almost 10,000 strong now!) and diversifying, most of the old-timers lean conservative in my experience, since it's an area that's traditionally been heavily dominated by timber/resource extraction.
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Old 03-26-2015, 03:19 PM
 
10 posts, read 13,954 times
Reputation: 11
Thanks everyone for your input. I can sacrifice some things such as land. I found the below property in Eugene, but it must be in very bad neighborhood or a money pit? I found a few like this ;


http://www.realtor.com/realestateand...-46540?row=224
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Old 03-26-2015, 03:45 PM
 
Location: Eugene, OR
56 posts, read 124,155 times
Reputation: 86
It appears to be a very noisy location.
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Old 03-31-2015, 12:04 PM
 
33,016 posts, read 27,451,622 times
Reputation: 9074
Quote:
Originally Posted by truthbetold247 View Post
I'm interested in investing in either a multi-family or single family residence property. I'm looking for the greatest return on investment & an ideal community.

My budget is $170,000 & a duplex or foreclosure/fixer 3+ bedroom single family is most likely within my grasp. I prefer a bit of land for growing veggies/fruits with RV parking.


My requirements;

*Healthy town economy with stable current job market poised for future growth

*Population 5,000+ & healthy rental market

*Town not dependent on 1-2 main job industries, diverse employment options

*Not high crime/high drug use/high pollution

*Amenities in town such as grocers, entertainment, transportation, farmers' markets, hiking/trails, shopping

*Live & let live mentality & eco-friendly community for the most part. Vegetarian/vegan friendly (Trader Joe's)

Considering;

Eagle Point
Hillsboro
Gervais
Willamina
Dallas
Sweet Home
Cottage Grove
Corvallis
Medford
Eugene
Salem
Ashland

Do these areas fit what I'm seeking?


Thank you for all your suggestions :-)

Not in Oregon, we don't want vultures.
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Old 03-31-2015, 03:55 PM
 
Location: At the Beach :-)
308 posts, read 410,249 times
Reputation: 327
You may want to check out Scappoose and Saint Helens. They have grown remarkably over the last 3 decades, and are still growing. They're basically the outskirts/end of the line limitation for people who commute to Portland for employment. I was born in St. Helens, and my aunt and cousin still live there. There should be some fixers within your price range, there. Any other fairly large community on the west side of the Cascades isn't going to have cheap real estate AND everything you're looking for. East of the Cascades, the Bend/Redmond area is booming and not cheap. Anywhere else might be w/in your reach, but if you want "civilization" (such as it is), Pendleton is probably your best bet. La Grande hasn't grown past the 12K population point in over 100 years, and although its economy is fairly stable, it's stable on the low-pay scale end of the spectrum. Any other small town, there, is dependent on one or two industries, only (i.e. ranching/farming or logging) who either are scaling back operations or don't hire many people to begin with. Most jobs are service industry-related, and many independent small business owners aren't able to keep their retail businesses going longer than a couple of years.
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