Bend's hot NW community market

[Carey Greiner]

Investment Info:

Single-family residence fix & flip investment.

Bought an off-market property from a Seller distressed by lousy renters/property manager. Old house and lots to upgrade. Developed private investors and returned them 15% returns on each of their $50,000 investments, in under a year. Sold quickly to get out at time COVID was affecting the market in some 'unkown ways' to protect equity.

What made you interested in investing in this type of deal?

Seller financing, private money investors, and popular location, along with some good options to analyze - especially with the two city lots/parcels.

How did you find this deal and how did you negotiate it?

Used cold callers and a list they developed for high equity out of area owners.

How did you finance this deal?

Seller financing, personal savings, money partners

How did you add value to the deal?

Major rehab with a $200k budget

What was the outcome?

Sold quickly, to negate some concerns about COVID's affect on the local market

Lessons learned? Challenges?

Stoked to work with three private investors, returning them 15% returns in under 12 months! At the time the scope of work (rehab) was too large for my experience level.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed Broker, so yes :)