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All Forum Posts by: April Jensen

April Jensen has started 3 posts and replied 6 times.

Post: Self storage, Boat and RV storage in the Willamette Valley, OR

April JensenPosted
  • Rental Property Investor
  • Oregon
  • Posts 6
  • Votes 2

Hello!  I have been learning so much about self storage and yet I feel that there is so much more to learn, from value adds vs developing a land.  How to underwrite?  How to do a demand study?  Ideally, I want to buy a operating self-storage facility and add value while learning the business.   I am looking for any advice, recommendations and/or leads!

Post: Realtors who specialize in multi family

April JensenPosted
  • Rental Property Investor
  • Oregon
  • Posts 6
  • Votes 2
Quote from @AJ Wong:

Hi Noah my name is AJ Wong and I'm investor focused broker with Vacsasa. I'm primarily on the coast but have a few properties that meet your criteria if you're open to a larger search area. I also have a great opportunity on a Coastal 5Plex that cash flows very well and the owner will consider a favorable owner carry with a down payment well within your budget.  Feel free to contact me to discuss. 


 I live in the willamette valley and would be interested in talking with you about your coastal properties on the oregon coast!

Post: Oregon's House Bill 2001 - Multifamily Opportunities!

April JensenPosted
  • Rental Property Investor
  • Oregon
  • Posts 6
  • Votes 2

Wow, great information.  I hope the make changes in other cities as well.  I am located in Albany and have done a duplex conversion as well

Post: This was my FIRST BRRRR!

April JensenPosted
  • Rental Property Investor
  • Oregon
  • Posts 6
  • Votes 2

What city permitting did you require? Building permits, Replats?  And what was criteria you needed to make the duplex conversion.  For my city, a single family home is required to be on a corner lot and 1.5x the zoned square footage of the lot in order to make it a duplex.  Sounds like you a did a great job!  Onto the next one!

Post: Duplex conversion from Single family home

April JensenPosted
  • Rental Property Investor
  • Oregon
  • Posts 6
  • Votes 2

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $320,000
Cash invested: $60,000

Duplex conversion from a single family home. 1/2 is rented out and we are finishing renovations to the other half and then on refinance

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

Forced equity

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

MLS

How did you finance this deal?

Bank loan

How did you add value to the deal?

Converted a single family home to a duplex through a garage conversion on a split level home.

What was the outcome?

Cash flow will be ~$1500 per month

Lessons learned? Challenges?

It takes a very long time to get building permits and replats, especially during COVID

Post: Getting sued over a property line dispute

April JensenPosted
  • Rental Property Investor
  • Oregon
  • Posts 6
  • Votes 2

We have gotten into a civil dispute with the neighbors!! We need some advice.

Our house was purchased in May and we are still renovating as a duplex conversion. Next to our house were 50 year old arborvitae trees that were noted in the inspection report as a hazard because of how close they were to the house. We told the neighbors we going to cut them down because they were actually lifting the side walk and touching the side of the house. We knew they were very close to the property line. They paid for a survey (never communicating to us after the survey was complete) and the property line appeared that the trees were on our side (come to find out the markers were off set by 5 feet, which we didn’t know). So we cut all 30 trees down. Obviously they were very upset and then Last week, they gave us a letter from their lawyer asking for $20,000 or they are going to sue since we “willfully committed negligent and intentional torts”

Since that time, we have gotten a new survey and 99.5% of the trees are on our property but the trunks of 3 of the trees does go over the property line a bit (by 10-30%). We also had a neighbor write us a letter on our behalf saying they were here when the trees were planted and the original trees were planted on our property.

We don’t want to pay a lawyer $$$ but we also don’t want to have to go to court at all. What should we do!!