All Forum Posts by: Justin Mast

Welcome, I'm a realtor and investor here in Coos Bay/ North Bend. Let me know if I could be of any help to you. There are certainly opportunities for investments here. The easy cash only foreclosures needing only cosmetic rehab that will then bank finance are harder to come by these days. Depending on your investing strategy there's always money to be made. Best luck, chat with you soon.

@Lisa Thoele I think that's a great idea! I may have to figure out water and a waste (septic) option, but that's areally good idea!!

@Amy Aziz sounds great I will be looking into that today!! Thank you!

@Andy Bauman the property I have for sale is zoned farm/ forest and had been divided the maximum number of times prior to getting it.

@Andy Bauman getting in touch with those bare land lenders has been my struggle. I've met with credit unions, banks, and mortgage brokers in my area, without success. My original message intention was to see if I could locate such a lender. In terms of capital deployment I'm a licensed realtor in Oregon and follow investment opportunities in my area. I'd like to purchase bank owned properties that aren't conventionally financable, rehab them utilizing sweat equity. I got my contracting license a few months back, so I'd like to do a lot of the work as well as sub some out.

@Eric Bunratty unfortunately not, only thing I can think to do with it is built on. It's a rural property with timber that's not ready for harvest. No improved water, sewer, or electric yet because I thought letting prospective buyers decide locations would be best. Dropping price or marketing are my only ideas?

@Zoran Stanoev the land was my father's share of his inheritance. I have been trying to unload it, but convincing him to drop the price has been challenging. My moving back home stratigy was to try to reinvest the property into an incoming producing property to help him retire.

RV/ Mobile park located on the Oregon Coast. 34 sites include 2 cabins, 3 mobiles, and a 48'X36' shop sit on 6.5 acres. Very clean park with the ability to add an additional 20 spaces. 10% Cap rate with value add opportunity. Books are well maintained. Don't miss out on this incredible investment opportunity. 

Justin Mast, Real Estate Agent in Oregon (#201220812)

Pacific Properties 810 S Broadway Coos Bay, OR

It's 168.25 acres, the property is listed at $349,900. The real market value for tax purposes is $105,268.

I left my corporate job almost 2 years ago to move closer to home (family), and saw this as an opportunity to learn the contracting trade working with my cousin who operates a construction business. Fast forward a bit, now I'm a licensed realtor, and have taken small jobs with my newly acquired contracting license, however I feel as though I've dug myself a hole that I'm needed some advise how to get out of. 

My seed money to start buying flips/ rentals is tied up in a piece of bare land zoned farm/forest without a dwelling on it. This land is likely to take a specific buyer which I haven't connected yet. I could leverage this property as collateral, but banks want improvements in order to pull equity out. 

I don't meet lending requirements so money seems to be frozen. I have great credit and a degree in real estate finance, but am clueless as how to get started. I have looked to partner on deals, but hate to mix family with money. I would love to be able to do things myself if possible. 

Thanks for taking the time to read/ respond to my dilemma.