Blog Stories Sell the starter home, buy the dream home!

Sell the starter home, buy the dream home!

By Carson Mead, August 28, 2018

I worked with Justin and Katie a few years ago when they were looking at buying their starter home. They purchased a small 2 bedroom, 1 bathroom 850 sq. ft. cosmetic fixer right in the middle of their beloved Sunnyside neighborhood in SE Portland. They were on a tight budget, and opted to go small to fit their economy to scale. First and foremost for them was finding that right location. Over the course of the last few years, they took on the cosmetic project with a renovation loan and dialed the home in with modern updates including a great kitchen, bathroom, and french doors off the master that lead to a spacious backyard.

Needless to say that life happens, as it always does, and they now have an almost 2 year old toddler in tow. The walk-ability of the neighborhood is no longer the most important thing, but rather the actual day to day of living with a commute to SW Portland. Time to be together as a family after a day of work. We’ve kept in touch, and I knew about these big changes. I wasn’t too surprised to hear they were ready to make a move to a home that would work better for them now. I was surprised when they got in touch that they already had the exact home in their sights, and wanted to tour it. We scheduled it in right away, and it’s a really special home. A mid-century ranch on a spacious lot with original details, with a view that goes on for miles. The home is a unicorn among other homes up on Skyline in the west hills. It’s not a million dollar contemporary, but another cosmetic fixer at a price point they could squeak into.

We quickly put together an offer, but a cash offer came in. We worked hard to present the best terms and conditions possible, and the seller selected my clients offer over the cash offer. It was a very exciting moment. The house isn’t perfect, and the inspections revealed that it’ll need some love and attention. Fortunately, the bones of the home are in great shape, and they can customize it and make it their own over time. They close today, and I couldn’t be more happy for them. We’re working towards listing their little starter home, and the equity that they’ve built into that home will complete the flip of their initial investment towards this next phase of their lives. It’s always a privilege and an honor to be of service, and to help my clients along the twists and turns of their story.

Please be in touch with me if you have any questions, or want to talk about what’s important in your next steps.

Carson Mead

Broker & ADU Specialist

My first introduction to the world of real estate came in 2004, when at the age of 22 I bought my first home in NE Portland with my sister. I still remember what a monumental life transition that was. Buying my own home laid the foundation for a lifelong love of all things related to houses. I enrolled in a year-long Building Construction program to gain more knowledge in housing systems and techniques. I have used those tools to enhance my own home both inside and out. I joke that my favorite part of a house is the basement, as that’s where I can see the health and maintenance of a home’s systems: plumbing, electrical, HVAC, foundation etc. While a home inspector is the professional on helping to understand the story of a home, I like to provide as much due-diligence as possible up front before you spend the money and get into contract. Ultimately my goal is to meet you in any endeavor that you are wanting to undertake. If you are looking to sell, I will develop a strategy that makes sense for you with your goals, timelines and marketing strategy. If you want to invest in your home before going on the market, we’ll look at what you can do to maximize your profit: be it refinishing floors, painting, modifying light fixtures, and getting it staged. If you need to stay in your home while selling, I’ll bring in my stager to help get perspective on how to pare down the feel of your home and have tangible goals to achieve in getting ready to go on the market. If you are looking to invest in Portland real estate, we can talk about the big four in analyzing properties. Rental income, principal reduction, equity growth and tax benefits. I work with spreadsheets to outline these assets so you can see the short and long term performance of your investment. Once last piece of my professional and personal life that I spend a lot of time thinking about are ADU’s (Accessory Dwelling Units). Also known as mother-in-law units and granny flats, these can be detached or attached. When I see a home, I look at the property in detail to see how the home is oriented on the lot and if it is ripe for a detached ADU (new construction), or if it is a good prospect for creating an attached unit (a basement apartment). I also look at the zoning to see what kind of potential this could add. I am in mid-process building my own detached ADU. The structure is going to be modern with clean lines and open concept. I live on a corner lot, which means the ADU can have it’s own street entrance. I also have zoning which will allow me to split the lot if I choose and sell it separately at some point. My plan is to keep it as a rental, but this will create a lot of flexibility both short and long term. I am a cooperatively focused broker, with a passion for helping people achieve their goals and succeed in their endeavors. I am patient, understanding, trustworthy, and truly care about your best interests. I serve on my neighborhood association board and the larger Northeast Coalition of Neighborhoods. Please let me know if you'd like to share a beverage, coffee, tea, beer/wine to talk about what’s important to you and see if it would be a good fit to work together. All the best— yelp
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