Ben Fogelson, Broker

Ben Fogelson, Broker

Jaeger Real Estate

541.514.4567

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Houses for a dollar.

My father Jerry Fogelson did more than one type of developing back in the ’70s. I still have some of his photos of ocean fish hanging on my wall, and I’m still inspired by his entrepreneurial spirit and success in the world of real estate.

One ditty is how he had a couple houses literally moved for him when he wanted to build an apartment building. In the end he did well by selling the approved plans and someone else built the structure, but it couldn’t have worked without his organization and the moving of the houses.

One could do it for various reasons. For my pops it was the build. Make space, build, sell, profit. And the moved houses were enjoyed and not demolished. But as an alternative one might want to do it as a lifestyle choice; Make space on a lot so you can build your home. In Eugene, a common scenario is when the University expands they need to get rid of their residential structures to make way for campus. Generally, like my father, they just want the structures gone, and a gregarious investor will have them moved to a lot and fixed up for the hold or sell. Regardless of the reasoning, even if the property moving is a real “fixer”, there’s a decent probability of value-gain when you can acquire the house for the going price, often just a dollar.

When you’ve got the components together correctly, the numbers can be sweet. You’ll need money, time and a correctly-zoned lot. Recently I spoke with Chris Schoap of Eugene building movers, and he quoted an estimate of $18,000-$22,000 to move one of the five structures located (in June of 2011) at 19th and Emerald. The final cost can vary depending on numerous factors concerning both the house, the lot to where it will be moved and the route between A and B.

The other day some architects called and let me know about these houses on Emerald. Thank you Will Dixon and Travis Sheridan! These things are often time sensitive, as developers looking to clear the lot may be in a hurry, so I quickly booked time to view the houses and did a measurement of the alley behind a lot I own. No good, the alley was too narrow.

Being in the middle of a construction project I’m not positioned to purchase a lot at the moment, but I’d certainly like to do this in the future.

Give me a call if if you’d like more info or if this type of venture interests you!