1020 16th Ave SW
Albany OR

Executive Summary

Deal Highlights

Purchase Price


Hold Period

9 months

Stabilization Cost


Total Project Cost


Investor Loan
Interest Rate


A $50K Loan Returns


After Repair Value


Deal Story

We are seeking a total of $131,000 to fix and flip this 983SF house with 3 bedrooms and 1 bathroom. It was built in 1942 near Queen Ave and needs some TLC.

The seller is in pre-foreclosure with $40,000 in arrears. He has two loans, and the lender in the second position called the entire note due. And since he couldn't make his monthly payments, he can't pay off the $40,000. He's in a tough situation!

By working with us, he'll save his credit, earn enough money to buy a more affordable house, and have some more time to move out. We can't solve all of his issues, but we're happy to help in this small way.

Part of the stabilization costs will go towards paying off the arrears, putting some cash into the seller’s pocket, and rehabbing the property.  We’re also giving the seller 90 days after close to find a new, more affordable, home (hence the 9 month hold period). During that time he’ll continue to live there and we’ll schedule the construction crew.

Rehab Project Plan

See below for a detailed scope of work.

Sources of Funds

Existing Loan $92,000

Investor Note $131,605

Total $223,605

Uses of Funds

Purchase Price $160,000

Closing Costs $2,500

Rehab / Holding Costs $58,000

Mortgage Payments $3,105

Total $223,605

Investor Note Interest $10,528 (8%)

Total Project Cost $234,133

Key Dates

PSA Executed

March 4th

Funds Due

March 15th

Close Date

March 18th

Property Overview

Facts and Features

Business Plan


Construction Plan & Budget

The following repair estimates are provided by EstimateON (the leading provider of insurance repair data). From past experience, these estimates align closely with our contractors. You can see the full repair estimate report here, which includes various quality options and a breakdown of labor and materials.

Here's a summary of the repairs and their cost range. We also included a 10% contingency.

Rehab Budget

Financial Projections

The Team

James Furlo


After getting his MBA, Mr. Furlo started working for HP Inc. and actively investing. Over the last 14 years, he purchased over $4 million in real estate. His investments include 10 properties that span apartments, storage, and warehouses. He's also a limited partner in a 112-unit development project. Learn more

Lawrence Potts


While working as a logistics coordinator & warehouse manager for Tigerlights in the agricultural industry, Mr. Potts invested in real estate in Oregon and Louisiana. He also started a Junk Removal company. After successfully selling his Louisiana portfolio and Junk Removal company, he became a full-time real estate investor and broker.

Mr. Potts has flipped several residential properties and continues to pursue specialty value-added opportunities. His focus is on always creating win-win scenarios and fostering long-term relationships. Learn more

Aaron Fulcher

Contractor, Basecamp Construction

Mr. Fulcher has a passion for helping people navigate their real estate journey. He has been specializing in buying, remodeling, and selling residential properties since 2012. To date, Mr. Fulcher has helped hundreds of clients remodel their dream homes.

Next Steps

Critical Dates

PSA Executed

March 4th

Funds Due

March 15th

Close Date

March 18th

How To Invest

Call, email, or text either James or Lawrence expressing your interest. We'll sign an initial term sheet and send you the wiring instructions.

Frequently Asked Questions

How do I invest in the deal?

Let James or Lawrence know, and we'll send you the wiring instructions to the escrow company. Since the sellers aren't moving immediately, we don't need the full rehab budget right away. We'll be in touch on the exact amount and timing.

Can I invest using a self-directed IRA?

Yes. Investments are accepted via 401K/IRA funds.

What is the minimum investment/loan?


Where do I find the banking wiring information, and where is this entity located?

The wiring information is provided after we sign the initial note agreement. If your bank asks, the entity's location that will purchase the property is in Corvallis, OR.

When will the loan be paid?

You will be repaid, including interest, after the property is resold.

How much are the Sponsors investing in the deal?

The Sponsors are providing the earnest money ($100) and will provide any additional funds required to either complete the project or make sure investors are fully paid.

What does "straight interest" mean?

This means you'll earn 8% regardless of the hold period. So, if we finisht the project is in 6, 7 or 10 moths, you'll get paid the exact same amount.

What is the projected hold time?

9 months. The sellers have 3 months to move. We'll take 4 months to rehab the property and market it for 2 months.

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