LAND DEVELOPMENT AND INCOME PROPERTIES
Serving investors, lenders and land owners in Central Oregon with innovation, experience, resources and integrity.
We offer management, consulting, joint venture and equity partnerships.
OUR DEVELOPMENT STORY
Our experience dates back to 1975 when Fieldstone principal, Jeff Payne, who admiring friends in the development and home
construction business, obtained his real estate license and promptly commenced working for his new clients in subdivision land
acquisition. Just prior to the 1981 downturn, we acquired our first subdivision property which involved remodeling a home, selling
parcels and constructing duplexes. As equity eroded inversely to the increase of interest rates, solutions were conceived to divest
of then newly created condominiums. That solution included accepting boats, automobiles and 2nd mortgages for partial payment of
the sale price. 17% take out (purchase) mortgages were common to our buyers.
Commercial real estate brokerage soon became much more intellectually intriguing than housing, especially within certain sectors. While
marketing the first of many medical office buildings (sale-leaseback) using physician retirement plans to finance other medical groups'
purchases, new economic tax stimulus greatly increased the potential of reducing taxable ordinary income through accelerated depreciation
rules. That nuance in the tax code provided even a greater opportunity to formulate limited partnerships to acquire motels and their highly
depreciable allocation of personal property.
The success of these partnerships grew to include the acquisition of warehouses, shopping centers, the development of manufactured
home communities and the tax stimulated brokerage of over 300 multi-family units, several medical office buildings, multi-tenant office buildings,
single tenant retail buildings, shopping centers, motels, manufactured home parks and industrial property.
We have a strong track record of highly successful partnerships; some still operate. In total we developed five manufactured home
communities comprising nearly 400 lots.
Since 1994 Teresa Payne has been principally involved in the accounting aspects of management including payroll, generating partner
statements, tax return pre-preparation and does Quick Books consulting. At one time her tasks included over 230 tenants. In 2006 Teresa
took the additional task of association management of Sunrise Village Homeowners Association. Sunrise Village is comprised of 174
homeowners, a clubhouse, pool, spa, RV storage lot and over 3 miles of private streets.
We currently manage approximately 300 homeowner association and manufactured home community lots.
