By Melissa Dorman, January 27, 2021
As many people already know, there has been a moratorium on evictions during Covid to protect renters who are out of work. While the vast majority of tenants have continued to pay rent in Portland, there have been some that have stopped. Up until now, the only option for landlords was to request a forbearance on their mortgage. This can create a ticking time bomb if the tenant doesn’t eventually catch up on their rent. There has been a lot of talk about the stimulus for renters and workers compensation. However, not much has been done for landlords…until now.
On Monday, December 21st, the Oregon Legislature established the Landlord Compensation Fund (HB 4401). The Legislature allocated $200 million in rent assistance to support tenants and landlords, which includes $150 million for the Landlord Compensation Fund. If you are a landlord suffering from a tenant who stopped paying rent, check out this resource. It might be a great solution for you and your tenant.
Broker | OR & WA
Ten years ago, Melissa was living in a slum in Kolkata, India, helping over 200 women escape sex trafficking by providing alternative work at a social business.
It was there she discovered her passion for financial education as a means of empowering people to move out of poverty. After graduating from UCLA with a Masters, Melissa spent 5 years working as a Social Worker; assisting clients facing homelessness, in jail, or at a psychiatric facility.
As much as she loved the work, imagining saving for retirement on the meager salary of a social worker was becoming grim. That's when Melissa discovered "passive income." In no time, she fell in LOVE with real estate as a vehicle for wealth. Soon after, Melissa began locating off-market multi-family properties to purchase through creative financing strategies and win-win opportunities. Two years into investing, Melissa quit her day job as a Social Worker to become a full-time broker and investor. Initially, she was drawn to people in difficult circumstances, so she developed extensive experience assisting families facing foreclosure, short sales, and probate. Melissa is well versed in helping her clients overcome complex real estate challenges.
Currently, Melissa is teamed up with Super Broker, Yascha Noonberg at Living Room Realty. Together they assist clients to achieve their real estate dreams, including how to strategically buy and sell a personal residence to maximize profits. Far from the slums of Kolkata, her greatest passion now is empowering other working professionals to develop passive forms of income through buying multi-family properties in Portland.
Broker | OR & WA