Investors in the market are very curious to see the ramifications of rent control in Oregon, and buyers are appearing at this point to not be dissuaded from pursuing multi-family deals. We recently listed two “rehab” properties in the Portland metro area, and both properties received multiple offers (seven and thirteen offers!)
Comments from investors range from:
-“This is going to be a disaster”
And the following sentiment seems to be the prevailing opinion so far:
“The 7% (plus cost of living index) is OK, I’m “ok” with that as I don’t usually raise rents more than that anyways.”
Another point of view is worried that the politicians will keep rolling back the rent increase/controls.
Time will tell!