Bluestone & Hockley | Portland Property Management https://www.bluestonehockley.com Portland Property Management Thu, 14 Jun 2018 20:03:29 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.6 Portland 9th- U.S. metro for investing in commercial real estate – Business Tribune https://www.bluestonehockley.com/portland-9th-u-s-metro-for-investing-in-commercial-real-estate-business-tribune/ https://www.bluestonehockley.com/portland-9th-u-s-metro-for-investing-in-commercial-real-estate-business-tribune/#respond Thu, 14 Jun 2018 20:03:29 +0000 https://www.bluestonehockley.com/?p=24840 The City of Roses has jumped to yet another Top 10 list of U.S. cities — this year, for investment opportunities in commercial real estate. Portland is the No. 9 best metro area in the U.S. to invest in commercial real estate this year, according to CBRE findings in its 2018 Americas Investor Intentions Survey.... Read more ›

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The City of Roses has jumped to yet another Top 10 list of U.S. cities — this year, for investment opportunities in commercial real estate.

Portland is the No. 9 best metro area in the U.S. to invest in commercial real estate this year, according to CBRE findings in its 2018 Americas Investor Intentions Survey. Last year, Portland was ranked No. 16.

“Portland’s jump into the top 10 illustrates the tremendous amount of growth we’ve seen over the past few years,” said Jason Green, CBRE’s managing director for Oregon and Southwest Washington. “The biggest indicator of new investor interest is growth in office-using jobs and continuously shrinking unemployment rates, and that trend is likely to continue in our region.”

The survey covered all asset types and showed that 88 percent of investors plan to either maintain or increase spending in 2018, up from 83 percent in 2017.

By property type, industrial is increasingly preferred: it was cited by 50 percent of investors as the most attractive investment in 2018, up from 38 percent during 2017.

To read the full article visit the Business Tribune

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Portland commissioners overreach in regulations being drafted for residential Landlords. https://www.bluestonehockley.com/portland-commissioners-overreach-in-regulations-being-drafted-for-residential-landlords/ https://www.bluestonehockley.com/portland-commissioners-overreach-in-regulations-being-drafted-for-residential-landlords/#respond Tue, 12 Jun 2018 16:40:39 +0000 https://www.bluestonehockley.com/?p=24813 By Clifford A. Hockley President Bluestone and Hockley In early May 2018 the City of Portland introduced a rent control concept to limit annual rent increases for tenants to 5%.   In addition, Commissioner Eudaly and the Rental Services Commission are testing out new approaches in application screening.  Both will dramatically affect the cost structure for... Read more ›

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By Clifford A. Hockley

President Bluestone and Hockley

In early May 2018 the City of Portland introduced a rent control concept to limit annual rent increases for tenants to 5%.   In addition, Commissioner Eudaly and the Rental Services Commission are testing out new approaches in application screening.  Both will dramatically affect the cost structure for a landlord in Portland.

The basic objective of these two policies is to make it easier for low income tenants to afford rental housing in the City of Portland.   Unfortunately, there are major misconceptions regarding the ability of local Landlords to absorb these costs.

Local landlords, buffeted by more and more regulation, are finding additional levels of regulation and rent increase caps difficult to swallow.  These new policy changes are in addition to new unreinforced masonry regulations and massive zoning changes that will affect real estate investors.

Utilities, maintenance, and property taxes are slated to increase 5% annually or more in the next two years.  This will likely increase rental housing shortages even more as landlords consider selling their investments that are not making money.

Commissioner Eudaly and the Rental Services Commission are introducing additional tenant screening criteria that are designed to maneuver the most challenged tenants into rental housing. These are the most difficult tenants to place and don’t have the money to rent from market rate Landlords.  These tenants would be better served through not-for-profit and/or government-funded housing schemes because the targeted demographic do not have the income to pay market rate rents.  Landlords do not have as much flexibility in setting rents, seeing as they have to pay market rate mortgages, and these additional screening requirements will affect the whole marketplace and create risk for all tenants and landlords alike.

Of the estimated 120,318 total rental units in Portland (2016 number), 80,445 are owned by ‘Ma and Pa’ investors. Any screening criteria changes made will have a huge effect on these small business people and their ability to maintain properties and pay taxes and mortgages.

Utility Increases

For many rentals, the utilities (water, sewer and garbage) are paid by the landlord and are anticipated to increase over 5% annually over the next five years.

For example, quoting from a recent memo from Melissa Merrell, PUB Analyst, Portland Utility Board:

“While the board sees encouraging process changes and transparency efforts in both bureaus, we remain concerned about long term cost projections for Portland customers. Current rates of increase in the proposed ordinance are 8.7% for PWB and 2.35% for BES for a combined rate of increase of 4.46%.

We are grateful to the Mayor for directing BES to use more of its cash-on-hand to reduce next year’s rate of increase but are still concerned that at the current rule of thumb for increases [5% combined for both bureaus], utility rates would double in less than 15 years.”

Wage and Construction Cost Increases

Property maintenance usually accounts for between 5% and 15% of the annual operational costs, excluding capital expenses. These increased maintenance costs are being driven upward by the construction boom, the reduction in immigration, and the increase in minimum wage. (See chart below.) Additionally, health insurance companies are forecasting 7%-20% increases in their 2019 premiums. We forecast wage and construction cost increases in excess of 6% annually for 2018 and 2019

         Portland Metro Minimum Wage Levels
Date $ increase % increase
July 1,2017  $11.25
July 1,2018  $12.00 7%
July 1,2019  $12.50 4%
July 1,2020  $13.25 6%
July 1,2021  $14.00 6%
July 1,2022  $14.75 5%
Average annual wage increase 6%

Source:  http://www.oregon.gov/boli/WHD/OMW/Pages/Minimum-Wage-Rate-Summary.aspx

 

Property Tax Increases

Due to increased demand, Portland housing prices have increased significantly. As a result, every homeowner’s assessed value will likely go up by 10% or more in 2018.  For example, a current home with an assessed value of $400,000 would increase by $1.40 per thousand or $560 a year due to the new school bond alone. The 2017-2018 property tax bill will include this increase as well as the affordable housing bill bond increase. This is in addition to strong appreciation in the Portland housing market. So, a 2016-17 tax bill that was $5,000 will probably increase to $6,500 or more in the 2017-2018 bill. (https://realestateagentpdx.com/portland-property-tax-going-2018/10482)

New Screening Criteria

  • Newly proposed screening criteria regulations are designed to take screening decisions out of the hands of landlords and instead focus on allowing almost any tenants with a low credit history the ability to rent. Most disturbing is the requirement that landlords approve applicants with monthly incomes as low as two times the rent amount.   This obligates landlords to rent to tenants that may not be able to pay their rent consistently.
  • Additional changes mandate that all applicants need to receive a time stamp on their application and a queue number. Landlords will also need to document all contact with prospective tenants and keep that record for over three years, including phone calls and email communication.  Records must include the tenant’s name, how the contact was initiated (phone, email, etc.), reason for contact, and any information the landlord shared with the potential tenant.  We expect these rules to cost us an additional $200 per applicant to implement.  Mom and Pop owners will never be able to afford to comply.
  • Inquiries to past Landlords are limited to the time frame of rental period that that specific landlord, ; rental payment history, security deposit charges due to intentional damage, court judgements, and outstanding debts. However, the landlord reference cannot be asked if they would rent to that tenant again, or about general complaints, lifestyle, or eviction filings.  Any crime older than seven years from the date of offense (not the date of judgement) cannot be considered.
  • Fair and effective screening was a landlord’s last line of defense against the recently imposed tenant relocation payments.

Summary

Let’s summarize with some statistics.  See the chart below:

Total Housing Units in Portland, Oregon 376,750.00 100%
Owner occupied housing 256,432.00 68%
Renter-occupied housing 120,318.00 32%
House (detached) 28,406.
House (attached) 5,199.00
2 Units 9,209.00
3-4 Units 13,298.00
5-9 Units 11,900.00
10-19 Units 12,433.00
20-49 Units 14,305.00
50+ Units 24,509.00
Mobile Homes 925.00
Boat, Van, RV 134.00

 

Notice that 80,445 of the units range from single family homes to 19 units.  These properties are usually managed directly by the owners themselves and small property management companies. These folks don’t have the technical or financial resources to comply with the proposed requirements. A significant percentage of the rental home and condominium owners will likely sell their properties because they cannot comply.  This will have a negative impact on housing supply. We anticipate that probably in excess of 5,000 rental homes could be lost to the marketplace, which is not what the city wants.

Landlords are generally reasonable people, but they rely on these investments for their income.

It is time for the city to realize that the policies being drafted affect the rental marketplace, not just the 13% considered very low income.

There are other options to create more housing in Portland:

  1. Erase or reduce system development charges for builders /developers that keep their properties as low-income housing for 30 years.
  2. Establish a grant program to help not-for-profit organizations build and manage low income housing.
  3. Use federal block grant funds to have Prosper Portland (formerly known as the Portland Development Commission) buy up a 25-year strategic land reserve to support future low-income housing development and grant that land to not-forprofit developers as the need arises in the future.
  4. Spend money on an office to help senior citizens rent out vacant rooms in their homes.

(This kills two birds with one stone; it helps low income renters and supports senior citizens raise money for their retirement.)

  1. Encourage developers to build shared and multigenerational housing where families rent together in a co-op style of living, allowing tenants to rent to subtenants.
  2. Simplify building and zoning requirements to reduce the costs of construction.

The mandates proposed by the city may seem free, but they are not.  Landlords are being used as social service surrogates to support the system. To keep rental housing, real estate investors need to cover their operating costs and make a profit.    Reducing income potential and revenue streams will cut out small Landlords, and the city needs small Landlords to keep its heart, personality and housing.

Finally, one of the new requirements demands documentation of all tenant/landlord contacts, and city commissioners should wonder if tenants will want to share all their information with landlords before they have a rental relationship.  Tenants might have privacy concerns as landlords track all phone calls, emails and contacts.

It seems that commissioners have overreached with this last set of adjustments to public policy.  The battle against homelessness should involve all citizens, not just residential Landlords.

 

__________________________________________________________________________________________________

Information from the desk of Cliff Hockley

From: KAYLOR Christian R * OED
Sent: Thursday, May 31, 2018 5:27 PM
To: KAYLOR Christian R * OED

Subject: Portland Economic Indicators – May 2018

Friends –

Continuing economic growth for Portland in the data this month. Though we are seeing some slowing in the pace of job growth as we enter our second year of unemployment rates below 4%.

New 2017 population data was released this month. The city of Portland grew by 11% from 2010 to 2017. For 2017, Portland became the 26th largest city in the United States, up from being the 29th largest in 2010. If this trend continues, Portland is on track to become the 24th largest US city by the middle of the next decade. Portland’s population growth of 11% is above average among major US cities, but not particularly impressive. Seattle is the fastest growing major US city at 19%, with Austin and Denver close behind.

Looking around the Portland region, Hillsboro has grown by an impressive 16% from 2010 to 2017. Oregon City and Tigard both grew at about the same rate as the City of Portland, while cities like Tualatin and Gresham have been growing at about half that rate. In absolute numbers, the 62,465 new residents in the city of Portland is larger than population growth in the next 9 largest Portland area cities combined.

 

  • Christian

 

Christian Kaylor

Multnomah County Economist

Oregon Employment Department

www.qualityinfo.org

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State seeks to fill gap in community development financing – Oregon Business https://www.bluestonehockley.com/state-seeks-to-fill-gap-in-community-development-financing-oregon-business/ https://www.bluestonehockley.com/state-seeks-to-fill-gap-in-community-development-financing-oregon-business/#respond Fri, 08 Jun 2018 19:06:03 +0000 https://www.bluestonehockley.com/?p=24791 Oregon’s state Treasury is looking to fund more community-driven infrastructure projects as appetite from investors in such financing grows.   Last week the Treasury sold its first ‘sustainability bonds’ – a $40 million issuance that will finance affordable housing construction throughout Oregon. The new category of state bonds are tailored for socially responsible investors and are the... Read more ›

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Oregon’s state Treasury is looking to fund more community-driven infrastructure projects as appetite from investors in such financing grows.

 

Last week the Treasury sold its first ‘sustainability bonds’ – a $40 million issuance that will finance affordable housing construction throughout Oregon.

The new category of state bonds are tailored for socially responsible investors and are the first bonds that are dedicated to projects that strengthen community and sustainability efforts.

The Treasury department issues bonds to fund a variety of state needs. Oregon State Treasurer Tobias Read said the Treasury is now capitalizing on the investment community’s interest in financing for sustainability projects.

“The market is interested in this,” said Read. “There are a variety of investors that want to focus on the sustainability of communities.”

For the full article visit:

Oregon Business

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Small businesses ask city for help with landlords – Oregon Business https://www.bluestonehockley.com/small-businesses-ask-city-for-help-with-landlords-oregon-business/ https://www.bluestonehockley.com/small-businesses-ask-city-for-help-with-landlords-oregon-business/#respond Fri, 25 May 2018 21:12:29 +0000 https://www.bluestonehockley.com/?p=24753 Amid rising commercial real estate costs, small businesses struggle to navigate disputes with landlords. A group of small business owners met with Mayor Ted Wheeler earlier this month, asking for protection from landlords amid skyrocketing commercial property costs. “It was a productive meeting,” says Khanh Le, director of the Main Street Alliance, an organization that... Read more ›

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Amid rising commercial real estate costs, small businesses struggle to navigate disputes with landlords.

A group of small business owners met with Mayor Ted Wheeler earlier this month, asking for protection from landlords amid skyrocketing commercial property costs.

“It was a productive meeting,” says Khanh Le, director of the Main Street Alliance, an organization that advocates for small businesses. “We discussed some recommendations on the issues of commercial affordability and tenants rights.”

One of their wishes — a small business liaison to field complaints — will soon be granted. The Bureau of Development Services recently approved funding for the position, spokesperson Thomas Ngo said, but hasn’t yet started the hiring process.

Despite that win, small businesses continue to fight for stronger legal protections. As Portland’s affordable housing crisis continues, Ngo says, public officials are keeping their focus on residential safeguards.

Read the full article over at Oregon Business.

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How Shuttering Retailers Are Helping The Industrial Market https://www.bluestonehockley.com/how-shuttering-retailers-are-helping-the-industrial-market/ https://www.bluestonehockley.com/how-shuttering-retailers-are-helping-the-industrial-market/#respond Mon, 21 May 2018 23:54:52 +0000 https://www.bluestonehockley.com/?p=24731 Struggling retailers are vacating warehouse leases that supplied brick-and-mortar locations, and it is helping to bring supply back onto the market.   Any one that has followed the industrial market for the last few years knows that ecommerce has created the heyday of industrial real estate. The industry has created tremendous demand for industrial space... Read more ›

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Struggling retailers are vacating warehouse leases that supplied brick-and-mortar locations, and it is helping to bring supply back onto the market.

 

Any one that has followed the industrial market for the last few years knows that ecommerce has created the heyday of industrial real estate. The industry has created tremendous demand for industrial space and has driven vacancy rates to historic lows—sub 1% in certain L.A. submarkets—creating a frenzy for more space. Now, ecommerce might be helping to increase the supply. Brick-and-mortar retail closures are beginning to turn into industrial downsizing, since fewer fulfillment centers are needed to supply brick-and-mortar locations.

“I represent some large corporations, and they have told me that because online sales are killing their business, they are cutting back on brick-and-mortar retail locations as well as the distribution and fulfillment facilities that support those locations,” Chris Jackson, an executive managing director at NAI Capital, tells GlobeSt.com. “I think you are seeing that across the board.”

Read the full article at GlobeSt.com

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How Much Down Payment is Needed in a Real Estate Transaction? https://www.bluestonehockley.com/how-much-down-payment-is-needed-in-a-real-estate-transaction/ https://www.bluestonehockley.com/how-much-down-payment-is-needed-in-a-real-estate-transaction/#respond Wed, 09 May 2018 23:49:30 +0000 https://www.bluestonehockley.com/?p=24685 By Cliff Hockley, President Bluestone and Hockley Real Estate Services Executive Director, SVN | Bluestone and Hockley How does an investor decide how much down payment is needed? There are many answers to this question – but most importantly a real estate investor needs to balance their investment strategies, risk management, financial institution lending requirements,... Read more ›

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By Cliff Hockley, President

Bluestone and Hockley Real Estate Services

Executive Director, SVN | Bluestone and Hockley

How does an investor decide how much down payment is needed? There are many answers to this question – but most importantly a real estate investor needs to balance their investment strategies, risk management, financial institution lending requirements, and cash in the bank to decide on the appropriate amount of leverage in a deal.

Investment Strategies and Risk management

Individual real estate investors typically want to use the least amount of their cash to buy an asset (20 – 30 %) and borrow the rest from a financial institution like a bank, savings and loan, credit union, insurance company or a hard money lender.

Experienced investors with significant cash and real estate holdings may put 40 – 50 % down on a deal to ensure that they can resist future economic downturns.   Often as investors mature and reach their financial goals, they typically become more risk adverse and will tend to invest in deals that may require a higher down payment to protect them from potential risk.

Some investors buy with 100 % cash, (like REIT Pension funds or insurance companies) because they have the cash and they don’t want to deal with paying interest to a financial institution.  This may seem a very conservative stance, yet if you have the money and want to reduce your risk, it’s a strategy that works and increases your return.

Investors must understand the local market they are buying in before they make the decision to purchase an investment – bearing in mind that some markets enjoy sustained economic growth, and some do not.   In some states, counties, or cities there is no economic momentum, and the value of the real estate may not grow exponentially over time -like a town with one factory that drives 50% of the local economy.  In that case, financial institutions may require a higher down payment, a faster amortization, or possibly a higher interest rate to account for the risk they are taking.   Even though there might be a  greater risk, , an investor may choose a risky third or fourth tier market, because the CAP rates (return) in those markets may be higher, and therefore drive a greater cash flow to their pockets.

 

Cash Down Payment

The vast majority of real estate investors in the United States are limited by the amount of cash they have to bring to the table to close a deal.

They look for help in raising money to buy a real estate asset in a variety of ways:

  1. They save money until they have enough for a down payment
  2. They invest with partners that bring money to the table
  3. They are selling an asset and using the funds from the deal (with or without a 1031 exchange) as down payment
  4. They refinance an existing asset (business or real estate) to raise the money
  5. Mom, Dad, or the grandparents lend the investor money for the down payment
  6. Other: You fill in x, y, z, or see a list of possible options on this website

 

The amount of cash an investor can raise typically will equal the down payment, reserves, due diligence and closing costs that will be necessary to close a deal.  The benefit of sharing a deal with other investors is that you do not have to bring as much money to the deal up front, and when the time comes to sell you can either trade up to another investment together, or you can exit in your own LLC to buy your next property (call your CPA and Attorney at least one year ahead to structure potential exit options.)

Financial Institutions

Financial institutions tend to set standards ranging from 20 – 30 percent down with debt coverage ratios in the 1.20 to 1.35 range.    They also set standards for investor global net worth and stress test deals at higher interest and debt coverage rates to insure they aren’t at risk as interest rates increase.  It is not unusual for a financial institution to quote one rate to get you to the table and adjust the deal to increase the amount of down payment you must pay from say 30% to 35%-40%.

As a sophisticated real estate investor, you will want to align yourself with a Mortgage Banker that brings you multiple financing offers and gives you a chance to review and choose the best deal for your particular situation. In a recent transaction one bank offered the following terms:

 

Property Value:      

         

$8,600,000
 

Loan Amount:      

            

$5,750,000
LTV:                                        

Up to 70% LTV of Appraised Value (Opus Bank ordered 3rd party appraisal)

 

 

Amortization:                   

 

30 years (with a 30/360 day payment calculation)
 

Term:                                  

 

10 years (PPP terms for each product below)
 

Rates:

 

3yr./Hybrid:         

 

 

4.90% fixed for 3 years and then would adjust on a 6 month LIBOR thereafter with a margin of 2.45% for the remainder of the loan term;  so a fully indexed rate today of about 5.00%.

 

4yr./Hybrid:         

 

 

4.95% fixed for 5 years and then would adjust on a 6 month LIBOR thereafter with a margin of 2.45% for the remainder of the loan term; so a fully indexed rate today of about 5.00%.

 

5yr./Hybrid:         

 

 

5.00% fixed for 5 years and then would adjust on a 6 month LIBOR thereafter with a margin of 2.45% for the remainder of the loan term; so a fully indexed rate today of about 5.00%.

 

7yr./Hybrid:         

 

 

5.15% fixed for 7 years and then would adjust on a 6 month LIBOR thereafter with a margin of 2.45% for the remainder of the loan term; so a fully indexed rate today of about 5.00%.

 

Interest-Only Option:     

 

 

2 yrs. I/O is allowed with a 12.5bp increase to the rates quoted above, so long as we are at or under 65% LTV, if 66-70% LTV; then just 1 yr. I/O is allowed with just a 7.5bp increase to the rates above.

 

Rate Floor/Ceiling:          

Start rate is the floor and ceiling is 9.50%.

 

Underwriting Rate:          

There is a stress rate of 5.45% at 1.30 DS on most loan types.

 

Recourse:                            

 

This is recourse pricing quoted above; for non-recourse you can add 10bp to all pricing above, as well the reset margin after fixed period goes from 2.45% to 2.60%.

 

Origination Fee:                

0-100bp

 

Pre-payment (PPP):        

 

Term                     PPP
3 Yr. fixed            3-2-1%
4 Yr. fixed            3-2-1-1%
5Yr. fixed             3-2-1-1-0%
7 yr. fixed            3-2-2-1-0%

 

Rate Locks:                         60 day available for a 1% refundable deposit

 

Processing Fee:                .10% of the loan amount (Min. $1,500/ Max. $5,000) + appraisal and enviro—no other 3rd party reports generally are needed.

 

Tax Returns:                       $2,500,000 need 2015 and 2016 personal tax returns for all sponsors + K-1’s-no LLC/Partnership returns.

 

Documentation:               The following are not required in most cases: legal opinion, tax/insurance impounds, reserves for capital improvement, engineering report, and seismic/PML report; earthquake insurance.

 

 

As you can see from this summary they start at 70% loan to value rate and stress test at a debt coverage rate of 1.30.  This demonstrates the desire for the Bank to reduce their risk.  This bank also limits itself to closing deals in metropolitan areas of at least 250,000 inhabitants – no small-town loans for this bank.

 

 

Summary

There is no one answer to how much down payment is needed to buy real estate.  Every deal is

different and every investor has different needs.   A good place to start though is to investigate what

market terms are being offered by financial institutions and use that as a starting place.  Then you need

to work backward to include the banking and due diligence costs, and finally have them clarify if they

use a stress test and how they would apply it to your deal.

 

Typically, you also will want to include some cash reserves in your deal, because not all real estate deals

turn out the way you expect.  The roof could be leaking, the foundation has slipped, your property is

in a tsunami zone, or the tenants might not be credit worthy – or ultimately everything could work out perfectly. Bottom line –  plan ahead so you will be ready with your down payment when the right deal comes along.

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Common Ground Coffee Hour https://www.bluestonehockley.com/common-ground-coffee-hour/ https://www.bluestonehockley.com/common-ground-coffee-hour/#respond Wed, 09 May 2018 19:47:09 +0000 https://www.bluestonehockley.com/?p=24673 Register here!   We invite you to join special guest speaker, Attorney Dan Webert, Partner at Barker Martin P.S., and members of the Bluestone & Hockley Management Team for this exciting learning opportunity on topics that matter to Community Associations! Date: June 21, 2018 Location: Ecotrust, Billy Frank Jr. Conference Center Q&A session to include: ... Read more ›

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Register here!

 

We invite you to join special guest speaker, Attorney Dan Webert, Partner at Barker Martin P.S., and members of the Bluestone & Hockley Management Team for this exciting learning opportunity on topics that matter to Community Associations!

Date: June 21, 2018

Location: Ecotrust, Billy Frank Jr. Conference Center

Q&A session to include: 

  • Construction Contracts
  • Special Assessments
  • Enforcement Issues/HOA Communications
  • Association vs Homeowner Responsibilities

About the Speaker:

Dan is a litigator who represents property owners in construction and insurance recovery litigation. He has represented the interests of thousands of homeowners through their community associations and has participated in the recovery of tens-of-millions of dollars for damages incurred from defective construction. Dan also represents owners of multifamily and commercial buildings, including apartments, malls, and shopping centers.

In his litigation practice, Dan focuses on residential and commercial construction litigation resulting from design, construction, and product liability claims. He has participated as primary counsel in numerous multi-million dollar construction defect cases, including residential, multifamily and commercial buildings. His cases have included virtually all types of construction and have related to defects in building components ranging from siding and windows to plumbing and mechanical systems.

In addition to his construction defect experience, Dan has litigated payment and performance disputes (including construction lien), product liability, design professional, and insurance recovery claims. He also has experience in a variety of commercial and real estate disputes. His early experience as a bankruptcy litigator provides valuable insight in claims brought against defunct developers, contractors and other businesses.

In addition to his litigation focus, Dan serves as general counsel for community associations, often for former litigation clients who have come to rely on his advice. As general counsel, he advises regarding the interpretation, compliance, and amendment of governing documents; risk management and insurance; operating budgets and reserves; vendor selection and contract review; dispute resolution; collections; and, other general advice.

 

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Bluestone & Hockley Community Leadership Seminar: Mending Fences for Board Members w Tsipora Dimant https://www.bluestonehockley.com/bluestone-hockley-community-leadership-seminar-mending-fences-for-board-members-w-tsipora-dimant/ https://www.bluestonehockley.com/bluestone-hockley-community-leadership-seminar-mending-fences-for-board-members-w-tsipora-dimant/#respond Mon, 07 May 2018 21:15:46 +0000 https://www.bluestonehockley.com/?p=24656 Click here to register now! Thursday May 17, 2018 10:30 am – 12:00 pm

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Click here to register now!

Thursday May 17, 2018

10:30 am – 12:00 pm

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B&H University – Commercial Lease Clauses that Make You Money https://www.bluestonehockley.com/bh-university-commercial-lease-clauses-that-make-you-money/ https://www.bluestonehockley.com/bh-university-commercial-lease-clauses-that-make-you-money/#respond Mon, 07 May 2018 19:12:18 +0000 https://www.bluestonehockley.com/?p=24645 Register Now! The SVN | Bluestone & Hockley corporate office at 9320 SW Barbur Blvd. Suite 300, Portland, Oregon will conduct a class taught by our President and Executive Diretor Cliff Hockley, CCIM, CPM, MBA. The presentation will discuss how to select the correct commercial lease clauses and ways to approach those lease clauses to... Read more ›

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Register Now!

The SVN | Bluestone & Hockley corporate office at 9320 SW Barbur Blvd. Suite 300, Portland, Oregon will conduct a class taught by our President and Executive Diretor Cliff Hockley, CCIM, CPM, MBA. The presentation will discuss how to select the correct commercial lease clauses and ways to approach those lease clauses to add significant value to your property.

This event will be held on Thursday, May 10th, 2018 from 4:30 pm to 6:00 pm and cost of entry is $25.00 (if you are a current client, please contact your broker/property manager for discount code.) Light refreshments will be provided.

 

About the Speaker:

Cliff Hockley is the President of Bluestone & Hockley Real Estate Services and the Executive Director of SVN | Bluestone & Hockley. He has been a licensed broker in both Washington and Oregon since 1986, a Certified Property Manager (CPM), Certified Commercial Investment Member (CCIM) and a Designated Managing Broker. Cliff is experienced in all facets of property management and commercial brokerage and has managed and sold warehouse, office, and retail properties as well as mobile home parks, condominium associations, and residential properties of all sizes. For over 30 years, he has helped build Bluestone and Hockley Real Estate Services into a company that manages over two billion dollars’ worth of investments.

 

He has represented both buyers and sellers in the purchase and disposition of millions of dollars’ worth of real estate transactions involving apartments, industrial complexes, and office buildings as well as Tenant in Common (TIC) investments. He has worked with financial institutions, governmental agencies, private investors, and not for profit organizations. He also has vast knowledge in budgeting, organizational management, and building structures.

 

Cliff holds an MBA from Willamette University’s Atkinson Graduate School of Management (1981) and a BS in Political Science from Claremont McKenna College (1979). Among his many civic activities, Cliff served on the 2017 Building Owner and Managers Association (BOMA) committee to revise the BOMA leases. He has served two stints on the Board of Directors for the Portland Chapter of the Institute of Real Estate Management (IREM), and in 2000 & 2003 – he was recognized by IREM as Certified Property Manager of the Year, as well as board member of the year in 2014. He has also served the Board of the Rental Housing Alliance of Oregon, and in 2015 and 2016 he earned an achievement award in brokerage from SVN International. In addition, he is an active member of Portland Jewish Academy, Oregon Jewish Community Foundation, and Shaarie Torah Synagogue.

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