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|Articles - January 2010|
|Thursday, December 17, 2009|
Follow-up: May 2009 feature, "Big hairy deal"
Gorilla Capital, a Eugene-based buyer and seller of foreclosed homes, has expanded into Arizona, Idaho, southwest Washington and Florida as part of a broad strategy to become the dominant national player in distressed residential real estate.
“We wanted to prove that our business model works on a national level and we’re proving it,” says CEO John Helmick.
The national spike in foreclosures that has disrupted lives and devastated the economy represents a huge opportunity for Gorilla. The company grew from 10 employees to 25 in 2009, with the three most recent hires moving into Clark County, Wash., to capitalize on the glut of homes selling for fractions of their assessed values.
The fact that Helmick and Gorilla have sidestepped metropolitan Portland bodes well for the Portland residential real estate market. Gorilla has made its fortune by buying at fire sale prices and selling for 20% less than the competition. Prices have held up too well in Portland for the Gorilla formula to work, Helmick says. But it’s a very different story in Phoenix, Ariz.; suburban Boise, Idaho; and Daytona Beach, Fla., where Gorilla is offering a three-bedroom two blocks from the ocean for $59,900.
Helmick’s brother, Rob, who co-founded ecollege.com with him in the 1990s, is running Gorilla’s new office in Florida, the state with the second-most foreclosures, behind only California.
With millions of distressed properties weighing down home prices from coast to coast, the timing seems ideal for Gorilla’s plan to expand aggressively. Helmick says there is local competition in each of the markets Gorilla operates in, but no one else is replicating a consistent formula in multiple locations.
He intends to be first in that race. “Before there was a Wendy’s and a Burger King there was a McDonald’s,” he says.
Thursday, April 23, 2015
BY LINDA BAKER
On April 1 I attended a forum at the University of Portland on the sharing economy. The event featured panelists from Lyft and Airbnb, as well as Portland Mayor Charlie Hales. Asked about the impact of tech-driven sharing economy services. Hales said the new business models are reshaping the landscape. “But,” he added, “I don’t pretend to understand how a lot of this [technology] works.”
Thursday, April 02, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
Are mornings the most productive part of the day? We ask five successful executives how they get off to a good start.
Wednesday, April 15, 2015
BY GARY CONKLING | GUEST BLOGGER
Avoiding a crisis is a great way to burnish your reputation, increase brand loyalty and become a market leader.
Friday, March 27, 2015
BY JOE CORTRIGHT
The CRC is a cautionary tale about how we plan for, finance and invest in transportation infrastructure.
Thursday, May 21, 2015
BY JASON NORRIS | GUEST BLOGGER
Uncertainty is a part of doing business, whether in through the lens of investment opportunities and risks or the business of running an enterprise.
Thursday, April 30, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
Oregonians are scrambling to get their gardens in order for the summer. Here are three tips from landscaping and urban farming expert.
Thursday, March 26, 2015
BY KIM MOORE
A conversation with Craig Wanichek, president and CEO of Summit Bank.
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New conference aims to solve challenges, quell fears amid regulatory changes.
Tourism marketing supports entrepreneurship by attracting visitors to all corners of the state.
Beaverton firm's business intelligence platform rivals that of industry heavyweights.
The Oregon Entrepreneurs Network (OEN) will be presenting its third annual Entrepreneurial Summit on Friday, June 5 at Castaway in Portland, Oregon.
On June 13th Mayor Charlie Hales will attend nonprofit organization Dream Change’s inaugural Love Summit and will introduce one of its keynote speakers, Dan Wieden of Wieden+Kennedy advertising agency.
34 spots for food, 17 places to sip, and 7 sites to choose a brew beckon visitors.