Embedded Files
1923 SW Long St
Executive Summary
Executive Summary
Off-market, mid-renovation property acquired at a discount. Repositioned to retail through a 6-month execution plan.
Off-market, mid-renovation property acquired at a discount. Repositioned to retail through a 6-month execution plan.
Deal Story
Deal Story
This opportunity came through a trusted broker as an off-market deal that wouldn’t qualify for conventional financing.
The seller turned the home into a rental, but after years of deferred maintenance, DIY renovations, and unpermitted work, the property fell into disrepair, leaving no clear path to a traditional sale.
This is where we operate. We focus on execution-heavy deals — acquiring distressed properties, completing the renovation, and bringing them back to a financeable, retail-ready condition.
We purchased it for $167K. The plan is to complete the renovation and exit at an estimated $305K ARV over a ~6-month hold. Returns are driven by solving the problem, not market appreciation.
Construction Plan
Construction Plan
We've engaged Ol' Glory Remodeling for the core scope:
Demo & Prep — Remove unpermitted attic stairs, level subfloors, and repair drywall.
Roof & Exterior — New membrane roof on garage, replace rotten boards, and repair siding.
Kitchen — Shaker cabinets, butcher block counters, subway tile backsplash.
Bathroom — New drywall, FlexStone shower surround.
Finishes — Laminate flooring, baseboards, replacement window, and two exterior doors.
List & Sell — Target $305K upon completion.
Deal Highlights
Deal Highlights
Purchase
Price
Purchase
Price
$167K
$167K
Build / Holding Costs
Build / Holding Costs
$261K
$261K
After Repair Value
After Repair Value
$305K
$305K
Hold
Period
Hold
Period
6 mo
6 mo
Investor Capital Needed
Investor Capital Needed
$100K
$100K
Investor Loan
Annual Rate
Investor Loan
Annual Rate
12%
12%
Minimum return of 6%
A $50K Loan
Returns
A $50K Loan
Returns
$6,000
$6,000
Sources of Funds
Sources of Funds
Existing Mortgage $161,000
Investor Note $100,000
Total $261,000
Uses of Funds
Uses of Funds
Purchase Price $167,000
Acquisition Costs $11,000
Stabilization Costs $76,000
Mortgage Payments $7000
Total $261,000
+ Investor Interest $6,000 (12% APR for 6 mos)
Total Project Cost $267,000
Key Dates
Key Dates
Demo Started
Demo Started
Apr 21st
Funds Due
Funds Due
May 1st
Rehab Begins
Rehab Begins
May 1st
Property Overview
Property Overview
Facts and Features
Facts and Features
Size: 938 SF
Beds: 2
Baths: 1
Year Built: 1936
Lot: 0.24 AC / 10,454 SF
Water/Sewer: City
Heating: gas wall heat
Cooling: none
Hot Water: gas
Sweet Home
Sweet Home
Sweet Home, Oregon is a growing small-town market where affordability meets lifestyle appeal. Nestled between the Willamette Valley and the Cascade foothills, it attracts both long-term residents and in-migrants seeking outdoor recreation, a slower pace, and more attainable housing compared to nearby cities. While it’s not a high-growth metro, its steady population gains, healthy employment trends, and constrained housing supply create a favorable environment for new home sales. Demand is bolstered by a combination of first-time buyers, downsizers, and relocators drawn to the area’s value proposition and community character.
Population: ~10,439 projected in 2025 — growing at roughly 1.1% annually, signaling consistent buyer demand.
Employment: County job base up 4.9% from 2022–2023, with strength in manufacturing, healthcare, and retail.
Median Household Income: ~$59,500 to $71,700 — supporting purchasing power for smaller new construction.
Housing: Tight supply; over 25% of renters are severely rent-burdened, increasing interest in homeownership.
2‑Bed / 1‑Bath home pricing: Averages around $320,000, positioning our build in a highly marketable sweet spot.
Additional Resources
Additional Resources
Business Plan
Business Plan
Construction Plan & Budget
Construction Plan & Budget
On the exterior, the biggest job is the garage roof. We're tearing off the old one, replacing rotten boards, and installing a new membrane system. We'll also repair the siding and replace two exterior doors and a window.
Inside, the kitchen gets a full makeover: new shaker-style cabinets, butcher-block counters, and subway tile from the counter to the ceiling. The bathroom gets new drywall and a FlexStone shower surround. Throughout the rest of the house, we're leveling the subfloors, laying laminate flooring, patching drywall, and adding baseboards. We'll also properly enclose the attic and install a pull-down access hatch to replace the demolished stairs.
Total contract: $52,210. We've budgeted $67K for rehab, leaving $15K of cushion before we touch reserves.
Risks & Mitigations
Risks & Mitigations
1. Rehab costs more than budgeted.
Ol' Glory provided a detailed, itemized estimate; our $67K budget sits above their $52K contract, leaving a meaningful cushion.
We're holding $7K in reserves outside the base rehab budget as a second layer of protection.
James and Lawrence have hands-on construction experience and can step in on finishing work if needed to control costs.
2. After Repair Value comes in lower than $305K.
We underwrote conservatively. The deal still works at $275K — a 10% miss — and investors still get paid in full.
If the market drops further, we can rent the property. Sweet Home has strong rental demand, and over 25% of renters are severely cost-burdened.
We have personal funds available to cover any investor shortfall if the sale doesn't cover it.
3. The project takes longer than the 6-month hold period.
Ol' Glory's scope is well-defined and fully contracted before we close, meaning we're not waiting on bids or decisions mid-project.
We plan to pre-market during the final weeks of rehab to generate buyer interest before we're fully done.
We'll conduct regular site visits and maintain open communication with the contractor to catch delays early.
4. The seller's existing mortgage has a due-on-sale clause that gets called.
Most lenders don't actively monitor for this, but it's a real legal exposure. We've accounted for the possibility of refinancing into conventional debt, which would increase our carry costs.
Worst case, we refinance or accelerate the sale timeline. The deal still works — it just compresses the margin.
5. We can't find a buyer at $305K within the hold period.
We're budgeting 90 days on market. If we hit day 21 with no offers, we reassess pricing immediately — not day 60.
Pre-marketing during the final rehab phase gives us a head start before we're even listed.
If we can't sell, we rent. The property cash flows at market rents and covers debt service.
6. Interest rates spike and buyer pool shrinks.
Sweet Home's affordable price point is more insulated than higher-priced markets. First-time buyers and downsizers don't disappear; they just get more selective.
A rate spike also makes renting more attractive, which strengthens our fallback.
We're not dependent on a perfect market. We're dependent on one buyer.
7. We, the sponsors, get hit by a bus.
James and Lawrence are both guarantors on the investor notes. Our assets back this deal personally.
In the event either sponsor is incapacitated, the other has full authority to manage the project to completion.
Financial Projections
Financial Projections
Financial Dashboard
Financial Dashboard
The Team
The Team
James Furlo
James Furlo
Sponsor
Sponsor
After getting his MBA, Mr. Furlo started working for HP Inc. and actively investing. Over the last 16 years, he purchased over $8 million in real estate. His investments include 14 properties that span apartments, storage, and warehouses. He's also a limited partner in a 112-unit development project. Read his one-page resume
Lawrence Potts
Lawrence Potts
Sponsor
Sponsor
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
Sean Taylor
Sean Taylor
Ol' Glory Remodeling LLC
Ol' Glory Remodeling LLC
Mr. Taylor is an established General Contractor based in Albany, Oregon, with a reputation for blending technical construction expertise with deep community roots. He specializes in residential renovations and property transformations. See job site photos
Next Steps
Next Steps
Critical Dates
Critical Dates
Demo Started
Demo Started
Apr 21st
Funds Due
Funds Due
May 1st
Rehab Begins
Rehab Begins
May 1st
How To Invest
How To Invest
We are accepting $100K in investor notes (minimum $50K). If you’re interested, reach out, and we’ll reserve your spot and send documents.
The promissory note will be with the following terms:
Loan Amount: Minimum of $50,000
Interest Rate: 12% annual, minimum of 6%
Payments: A single payment shall be made on the date of resale on or before the expiration date.
Loan Length: 1 year (though, we're targeting 9 months)
Deed of Trust Security: 1923 SW Long St, Sweet Home, OR 97386
Guarantors: James Furlo and Lawrence Potts
City and State of Execution: Sweet Home, OR
Frequently Asked Questions
Frequently Asked Questions
How do I invest in the deal?
How do I invest in the deal?
Let James or Lawrence know. We'll sign a promissory note and send you the wiring instructions.
Can I invest using a self-directed IRA?
Can I invest using a self-directed IRA?
Yes. Investments are accepted via 401K/IRA funds.
What is the minimum investment/loan?
What is the minimum investment/loan?
$50,000
Where do I find the banking wiring information, and where is this entity located?
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 Sweet Home, OR.
When will the loan be paid?
When will the loan be paid?
You will be repaid, including interest, after the property is sold.
How much are the Sponsors investing in the deal?
How much are the Sponsors investing in the deal?
So far, the sponsors have put in $8,000. This covers closing costs and the funds to start the demo.
What does a minimum return of 6% mean?
What does a minimum return of 6% mean?
This means you'll earn at least 6% on your money, even if we complete the project in less than 6 months. For example, if we finish in 4 months, you'll still receive 6% instead of 4%. That will increase your effective APR to 18%.
If the project takes longer than 6 months, you'll still receive 1% per month (or 12% APR). It's our way of ensuring you still receive a good return even if the hold period is extremely short.
What is the projected hold time?
What is the projected hold time?
6 months. This rehab should take 2 months to complete. We build in buffer time for delays and marketing/selling the property.
This document contains privileged and confidential information, and unauthorized use of this information in any manner is strictly prohibited. If you are not the intended recipient, please notify the sender immediately. This document is for informational purposes and is not intended to be a general solicitation or a securities offering of any kind. The information contained herein is from sources believed to be reliable, however, no representation by Sponsor(s), either expressed or implied, is made as to the accuracy of any information on this property, and all investors should conduct their own research to determine the accuracy of any statements made. An investment in this offering will be a speculative investment and subject to significant risks; therefore, investors are encouraged to consult with their personal legal and tax advisors. Neither the Sponsor(s), nor their representatives, officers, employees, affiliates, sub-contractors, or vendors provide tax, legal, or investment advice. Nothing in this document is intended to be or should be construed as such advice.
Potential investors and other readers are also cautioned that these forward-looking statements are predictions only based on current information, assumptions, and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by such forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project, “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. These forward-looking statements are only made as of the date of this executive summary, and Sponsors undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
This document further contains several future financial projections and forecasts. These estimated projections are based on numerous hypothetical scenarios, and the Sponsor(s) explicitly makes no representation or warranty of any kind with respect to any financial projection or forecast delivered in connection with the Offering or any of the assumptions underlying them.
This document further contains performance data that represents past performances. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data presented.
All return examples provided are based on assumptions and expectations in light of currently available information, industry trends, and comparisons to competitor's financials. Therefore, actual performance may, and most likely will, substantially differ from these projections, and no guarantee is presented or implied as to the accuracy of specific forecasts, projections, or predictive statements contained in this document. The Sponsor further makes no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown in the pro forma or other financial projections.
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