All Forum Posts by: Cory Carlson

La Pine certainly has value but i personally would not want to live there. If you wanted to be close to the mountains, rivers and get a great deal on some tree'd acreage then LaPine may be your place. I was a live-in student firefighter there for awhile and if i were to pick a small community that has affordable plots of land i would go on the outskirts of Redmond or Prineville. 

Thats just my .02! Send me a PM if you have any specific questions 

Took me 9 months for my first deal. It was a first time investor purchasing a 4-plex. Granted my companies niche is fairly specific, I think the time should be less important than the service and value you add. Sure, the commission check may be needed but getting your foundation in place and systems set will do you much better than scrambling to put any possible deal together. 

There are tiny home communities here in Oregon. Check out Eugene and Bend policies and perhaps you can use what they have learned in your development. 

This forum is full of 101's on investment analysis. My first piece of advise would be to dig a little harder for some videos and get some books. Keller Williams has great introductory books for brokers and/or investors. Another is Finding & Funding Great Deals by Anson Young. These are not deep dives into the return metrics that go along with an investment property but will familiarize you with the lingo and mechanics of a real estate transaction. The books i mentioned are quick reads too. 

Go find a local investment real estate broker who can structure the exchange for you. It is worth getting professional help from someone who has performed exchanges just like yours and has the ties to 1031 folks. 

@Don Konipol Thanks for your response Don. I find more out tomorrow exactly what assets are allowed. I will run over some specifics with the financial advisor tomorrow. We have more of an introductory meeting to determine some of their goals and time horizons. While I am less familiar with more conventional investments like stocks, bonds, mutual funds and annuities I am trying to take the extra step to help this family with my connections and ties to finance. Even with a 10% interest on a small loan would ruin any opportunity for cashflow in the markets i am familiar with here. Things just really are not pointing to real estate without their family getting more involved. 

I totally agree with you @Arlen Chou I do not recommend they invest it all in real estate. Although I have not included all of the details. They have a daughter who would qualify for financing and has the means to help in an emergency. The only reason reinvesting in real estate is on the table is the limitations to wife's assets. If it sits in an account for too long the state will take it and unenroll her in her current assisted living situation. Right now she does not have to pay in assisted living. Lots of variables here. I want to be prepared if their family is willing to invest in real estate to be able to have a plan on the table to help them diversify. 

Hello, 

I have an interesting situation that i would like some of your input on. I recently represented the sellers of a duplex that was in pre foreclosure. In 10 days i marketed the property, held an open house, found a cash buyer and closed. After paying off their judgements and debts they have about $100,000. This is ALL of their assets. Both Husband and Wife are on a fixed income from social security. Wife is on medicare and has a limitation to her assets. The fine print allows for real estate investments. We do meet with a financial advisor this week to help diversify and make this money last. They have very low credit, and were in pre foreclosure for several years. There is no way they would qualify for any conventional financing. 

My questions is do any portfolio lenders or creative means of financing look purely at the income and investment of the property and not the investors qualifications for smaller 2-4 unit properties? We are looking for a little passive income in a semi liquid investment in case a medical emergency comes about. I understand financing like this is usually associated with a larger down payment and higher interest rates. 

We live in Central Oregon and our market does not provide many opportunities within our time frame to find cash flowing properties of this size. Appreciation is less important to them, rather than the passive income and pay down on principle. Honestly, for their sake an investment somewhere out of the state with a hands off approach would be best. 

Let me know your thoughts. What would you do? 

Cory 

accidentally double posted. Anyways, send me a message if you have any questions. 

Read and educate, pick a path and work backwards. If you want to be a broker that helps people buy homes, start with getting your license. 

If you want to help people manage their money and investments. Get educated and also get your brokers license. 

It also helps to find a mentor and a path that coincides with your skills. If you're good a finance and like it, then perhaps investment is for you. If you are very personable, are good at networking get on a team and start in residential. 

Those are just a couple very generalized options. If you just want to invest in real estate and are looking for passive income, get into your career first and start making good financial decisions NOW.