All Forum Posts by: Marques J.

Good morning,

I was able to get a really good deal on a 4 bed 2 bath 1800 sq ft 2008 built property in a gated community on almost an acre, near a national monument and private access to the famous Oregon Illinois river access for the community. There is also a exotic cat exhibit with Tigers, lions and such... 

What I do not know is if it is a good vacation rental or not. I am a buy and hold guy and I know our rental market but not vacation market. I don't know how much to expect. I have heard some crazy numbers before..

This place is also 50 minutes from the Oregon Coast and 35min to the California/Oregon Redwoods. Please  help me out. Address is 521 Schumacher Dr, Cave Junction , OR 

I am trying to decide if I should sell or vacation rental. This is a beautiful quite Oregon community near the clearest river in the area, Oregon Cave national monument and the Oregon coast. I don't see how that cannot be a good Vacation Rental...

Could sleep 6 to 8+ also has 3 car garage that can be turned into rec room with items tailored to my ideal customers or something.

Retire, Oregon style? I am selling a wonderful 2008 built property on Schumacher St. in Cave Junction Oregon home of the Oregon Caves a national monument. The beautiful Oregon coast is also not to far away. Located in a Gated community with private Illinois River Access for the HOA this 4 Bedroom 2 bath, 1800+ sq. ft. boasts 9 ft. ceilings and vaulted great room. 3 car Garage with RV parking. Illinois Valley is also known for wine, tourism, crystal clear Illinois River.

New Houses are being built in a couple close by sub divisions and they sell for the same price as this one but way smaller lots, smaller sq. footage, smaller garage. House down the street is listed at 329k. Lot has mature trees and it is .89 acre. HOA protects the integrity of the community as well for only $25 a month.
The unit is still being rehabbed but it's just cosmetic refresh and upgrades. At the 255k price the house will shine. Price subject to change at any time. I am willing to sell less than $255 if rehab is not completed so act fast.
Master has Jet Tub and Full size stand up shower.
Fireplace with tile also.
This could be a flip, rental, vacation rental (due diligence required) or a vacation/2nd home. Cave junction is a close knit small community in Oregon served primarily from Grants Pass Oregon.

Thank You

PeopleFirst Properties

I am on my 60th day of a simple, well leased, free and clear refinance of a rental I own with Finance of America. Slam dunk deal. Their communication has been the worst I have ever dealt with. They don't have their business in order. Something is going on over there, maybe all the buying of companies but they don't give a rip from what I have experienced. 

I put in a complaint and blame was put on the appraiser and my insurance agent and me. Even though I return docs in minutes not days, they hire the 3rd party appraisal company and my agent couldn't get a call back from the insurance department for over 4 days after I was told they would call me.

Just a warning for all. From what I am experiencing Finance of America is a joke right now.  

$2000 for a  4/2.5/2 unit conversion in Ohio

None are in an area considered rural. I don't mind documenting income BTW if it saves me some points.

Northfield OH is the city of the one I am most interested in getting cash out of.

What was the LTV and was it ltv of purchase price or appraisal value?

I have a 6.5 year old foreclosure so conventional is out, I tried. No extenuating Circumstance on NOO either. Foreclosure seasoned off my credit but apparently Underwriters found it wasn't seasoned enough. I was told I was ok but I wasn't ok. Refi died 4 days before closing.

I am looking for some way to get cash out of a free and clear property I own in Ohio. Worth around $170k or so. I have owned it since May 2016. I have good income, W2, 1099(2 yr), rental (less than 1 yr). I am a slam dunk for conventional except for the 6.5 year foreclosure, close to 700 score.

Property was estimated to have 1.7 DSCR on 122k Cashout @ 5% during my attempt at conventional. I am open to ideas but I am looking for a decent rate.

I have 3 homes in need of refinance right now. 2 in Ohio and 1 in Oregon.  So I need to find a good program or I will just wait until my foreclosure seasoning is over. I am not skilled in waiting however.

Thanks

@Bruce Lustigson 

Older post but I have 2 loans through Limaone. They are great and I do recommend them.

@Kenneth Collins

Investor Friendly is a term thrown around generously on properties.  Some are indeed investor "Friendly" terms/numbers/flexibility/owner carry/ etc and the numbers work well. Some are not.   However what pencils well for me and my goals might be different for you.

Investor friendly Realtors are usually able to work outside the box with informed buyers/sellers. Willing to go onsite and take some pics for you maybe. Just things that some people don't want to bother with. 

Indeed 2011 was the lowest prices I think Medford will see in our investing career. I hope. Otherwise we would have to go through another bubble pop.  I saw a house get sold for $25k in 2011 in Medford. Insane!

Medford is so very underbuilt, I am preparing for the building rush (I hope its not a boom) that will be coming. I am gathering build able lots so if you see any good deals out there let me know.   Thanks

Welcome Ryan, Sounds like you got a good start to making that happen.

I have been buying SFR for rentals and looking for multi Family in Medford and nation wide as well.

Welcome to BP.