Rent It Out and Buy Another

SOLD! October 11, 2013 for $289,000

Ever thought about the possibility of renting out your current home and then buying another house? Well my clients, who live in a small Hawthorne/Division area Craftsman, had that EXACT idea and were able to pull it off, and even close on time! The Hawthorne/Division neighborhood is pretty well known as the place to live if you are young, into walking, unopposed to the occasional beer, and have a love for vintage Portland homes.  Michael and Polly really love the area but needed more room for their growing family.  Michael and I share a love for green building practices (he works for Earth Advantage and I’m an Earth Advantage broker) so, he and Polly reached out to me to help with the hunt. It’s realtor conventional wisdom that if you go just a little outside the city, you can get a lot of house for your money.

On SE 87th and Holgate, a walks distance to Lents park, they found a special mid-century home that they had first seen at an open house, but we looked at all of the options before making a final decision.  They found the spacious living areas and lower level apartment to be just what they were looking for. Stunning hardwoods, completely updated kitchen, built-ins, and 1950s charm are just some of the amazing things about this home.  The plan? Find fabulous tenants for their close-in home and raise Oscar and Lily Be in almost 3000 Sq. Ft, a little east of the city center. The really cool thing about this transition? The option to (someday) retire where it all began, in the Hawthorne/Division neighborhood, and rent out the two separate living spaces in the 87th and Holgate house. Congratulations to Michael, Polly, Oscar, and Lily Be!  Oh and the cherry on top was that it was extra fun to close on Polly’s birthday!

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I love being able to help clients realize their vision. Interested in becoming a landlord, a sustainable remodel, or just have a real estate question? Reach me at stephanie@stephanielundin.com. To find out more about the Earth Advantage vision, click here.

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