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Updated over 3 years ago,

User Stats

7
Posts
1
Votes
Jordan Personius
  • Rental Property Investor
  • Grants Pass, OR
1
Votes |
7
Posts

Buying property to live on and develop for multi family

Jordan Personius
  • Rental Property Investor
  • Grants Pass, OR
Posted

I am currently under contract to purchase a 1 acre property with river frontage in southern Oregon area. The property currently has 1 manufactured home as well as a 4plex which burned down a year ago and is of no value and will be demoed shortly. Having the grandfathered in 4plex does allow for a rebuild of an additional 4 units on the property. I intend to live in the manufactured home as a primary residence and rebuild and rent the additional units for long term holds in the next 2-5 years. I currently run a small property management company and own several other single family rental homes in the area. We recently completed the development of a 10 SFH subdivision that is being held for rentals as well. The question is wether to purchase the property in my personal name or to purchase it in the company name and rent the house to myself while living there and developing the rest of the units. Thanks in advance for any advice.