Rick Bean

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This is “Rick’s Tips” with Rick Bean, Principle Broker at Rose City Commercial Real Estate, rosecitycre.com. This episode we’ll learn why an investor looking to buy or sell commercial real estate in Portland, Oregon needs a broker, and what makes Rose City Commercial Real Estate different. A buyer’s broker is a good thing for anyone to have if they’re buying, leasing, selling, or investing in commercial real estate. What I do is I act as their assertive, and occasionally aggressive, advocate for best price and terms. Read or Click to Listen Ricks... Read More »

This is “Rick’s Tips” with Rick Bean, Principle Broker at Rose City Commercial Real Estate, rosecitycre.com. This episode we’ll learn why the Portland, Oregon multifamily commercial real estate market is a great investment right now. The reason why Portland multifamily is so hot, is that Portland is enjoying a great reputation for returns from investors not just locally, but nationally. There’s a lot of money pouring into Portland and one of the reasons why is the last five years we’ve had extremely low vacancy rates. Even though there’s a lot... Read More »

  WHAT IS AN ESTOPPEL CERTIFICATE? A real estate investor recently asked me what an Estoppel Certificate was and why he should know about them. The old Real Estate Adage is: “You earn when you buy…and get paid when you sell.” Due Diligence research is how you make sure you are getting what you are paying for, and an Estoppel Certificate is an important component of that research. When investors purchase multifamily or other revenue producing real estate investments they are counting on a certain level of on-going rents. An Estoppel Certificate (EC)... Read More »

Off market properties can be a source of profits.

Off Market deals solve a lot of problems for Portland, OR multifamily investors. Many Rose City Commercial Real Estate (RCCRE) customers have confided that they would love to sell their current assets. Fear of not being able to find a second leg property for their 1031 Exchange keeps them from making a move.  RCCRE has a group that focuses resources solely on multifamily assets that are not publicly marketed. JUNE OFF MARKET SUCCESS Our June success story success was finding an off market 57 unit property in great condition. And plenty of upside. Our client was  an... Read More »

I am currently looking for 50 unit and up properties for a 1031 investor…but I’m also researching plexes and small apartments for a California investor that wants to move his equity to an environment that is more favorable.  There are huge REIT funds now that focus on single family residences and plexes…and they are doing quite well.  The fact that they are active in Portland says volumes.  With PDX being the #1 city in the US for year over year appreciation three months in a row we can expect that to continue. Residential Multifamily (RM) Definition: ... Read More »