All Forum Posts by: Gerald Yawn

Glad you found Bigger Pockets there is a ton of great information and resources here! I’d be glad to help you any way I can, just let me know, I live in Grants Pass and know southern Oregon extremely well! Reach out anytime! Good luck!

Hey, Welcome Brittney! Glad to have you and Mark join. I’m in Southern Oregon as well, I’ve been investing for about 3 years now and it’s slow going in our area, at least for me, but totally possible! I fell so much in love with real estate I’ve actually become an agent with Covered Bridge Realty in Rogue River. I’d love to chat with you and Mark more to help in any way possible, there is also a local investor group that meets up lead by Ryan & Kelsie Plummer that I highly recommend. Welcome and enjoy the journey, if you have any questions please reach out! 

Congratulations @Jarrett Fogelman! Sounds like you are jumping into this thing full blast! I live in Grants Pass, OR and just finished closing on my second property in March. I closed on the first one in the end of 2020 and I am 29 myself. Definitely put the book store at Bigger Pockets to work, there is so much valuable information! If you are interested, feel free to message me and I can get you connected with the team that I used to do it. They were able to work with me and I plan to continue using them going forward. Good luck in all you do and never let yourself stop learning!

 Short Term demand seems pretty high with not too much to pick from. We are pretty much the mid way point between PDX and SF therefore seems like a great place. I have a few friends who have been rather successful in this area with it as well!

It is a detached ADU. Just handed the keys over to my contractor to hopefully get it up and running by the end of May

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $455,000
Cash invested: $32,000

This was a primary residence purchase. Long term buy & hold and live in while focusing on investing elsewhere. Primary driver was to have a long term place to make home base while opening up the other property for income production. It is now being used as a long term rental for the one larger unit and we are getting the smaller, 1/1 ready to become a STR. Looking forward to a new venture!

Investment Info:

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

Purchase price: $269,000
Cash invested: $20,000

First property ever purchased, House hacking a single family 2/1 house needing some repairs along with a recently remodeled 1/1 ADU which is currently rented out. Update 2/7/22, about to close on a new primary residence and will be turning this into a full time rental, the 2/1 will be a long term rental and the plan for the 1/1 ADU is to turn it into a short term to medium term rental

Investment Info:

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

Purchase price: $269,000
Cash invested: $20,000

First property ever purchased, House hacking a single family 2/1 house needing some repairs along with a recently remodeled 1/1 ADU which is currently rented out. Update 2/7/22, about to close on a new primary residence and will be turning this into a full time rental, the 2/1 will be a long term rental and the plane for the 1/1 ADU is to turn it into a short term to medium term rental

I currently am not living for free yet, living in the larger house and renting out the smaller one. Once rehab is fully done on the main house we will be looking for the next project and this property will follow the 1% rule. As for right now the hack is paying more than half the mortgage which seems like a good start

Investment Info:

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

Purchase price: $269,000
Cash invested: $20,000

First property ever purchased, House hacking a single family 2/1 house needing some repairs along with a recently remodeled 1/1 ADU which is currently rented out.

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

It seemed like the simplest way to get started in this area by taking advantage of an FHA loan, with a ready to go rental and a home that could benefit greatly from forced appreciation

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

Through my realtor and through online research, negotiated mostly on major repairs which were needed while keeping an eye on where the market was heading.

How did you finance this deal?

FHA

How did you add value to the deal?

Doing some basic cosmetic rehab, both paying for and doing a lot of work on my own.

What was the outcome?

So far it is going great!