Disclosures
The fine print, in full.
Who is licensed, who is brokering, what this site and the documents we prepare are and are not, and the rules we work under. The short version appears at the foot of every page; this is the complete text.
Brokerage and licensing
Real estate brokerage services described on this site are provided by Ryan McMillan, a real estate broker licensed in the State of Oregon, license number 201262100, and are brokered by eXp Realty. Promesa Investment Properties is the business name of Promesa Real Co LP, which provides the investment, underwriting and property services described here; it is not itself a licensed brokerage. Any activity that Oregon law reserves to a licensee, including negotiating the sale or purchase of real property on behalf of another, is conducted by the licensed broker under eXp Realty's supervision.
Oregon law requires a licensee to provide the Oregon Real Estate Agency's Initial Agency Disclosure Pamphlet at first contact with a prospective party to a transaction, and first contact can be an email, a call or a form sent from this site. The pamphlet explains whom a broker represents and the duties a broker owes to each party. You can read the Agency's own copy now: Initial Agency Disclosure Pamphlet (PDF). The broker also provides it to you directly. The Oregon Real Estate Agency (oregon.gov/rea, (503) 378-4170) licenses and regulates real estate brokers in Oregon and receives complaints about them.
Proformas, worksheets, memorandums and notes
Promesa prepares proformas, underwriting worksheets, offering memorandums, listing cards and educational notes such as TaxFlow. Each is an illustration built on assumptions: rents and expenses as reported or estimated, a vacancy allowance, growth rates for rent, expenses and value, an interest rate, an amortization, a purchase or sale price, a cap rate, a refinance rule, a hold period and a cost of sale. Changing any assumption changes every result. The figures are hypothetical projections, not a forecast, a guarantee or a promise of any outcome, and actual results will differ, sometimes materially.
These documents are not an appraisal, not a broker price opinion unless labeled as one, not a loan quote, commitment or offer of credit, and not an opinion on whether a lender will lend, an appraiser will agree, or a building will refinance on any date. Figures come from sellers, public records, listing pages and Promesa's own underwriting; some are read from documents by automated tools and then reviewed by a person; any of them may contain errors or change without notice. A proforma prepared for one person reflects that person's inputs and is not advice to anyone else. Before you rely on any figure, verify it independently and through your own inspections, lender, appraiser, accountant and attorney.
Not investment, financial, tax or legal advice
Nothing on this site or in the documents we prepare is investment, financial, tax, accounting or legal advice, and nothing is a recommendation that any property, structure, loan, refinance or strategy is suitable for you. No one at Promesa is a registered investment adviser, financial planner, certified public accountant, attorney or licensed mortgage lender, and we are not compensated for advice. References to depreciation, cost segregation, real estate professional status, 1031 exchanges, entity structure, refinancing or any other tax, legal or financial topic are general descriptions of concepts, not advice; their treatment depends on your circumstances and on the law in force at the time. Decisions are yours, made with your own advisors. Working with Promesa creates no fiduciary or advisory relationship beyond the duties a written agency agreement and Oregon law impose on a licensed broker.
Not an offer of securities
Nothing on this site is an offer to sell, or a solicitation of an offer to buy, any security, including any interest in a syndication, fund, partnership or limited liability company. Any such offer, if made, will be made only to qualified investors through official offering documents that describe the investment, its risks and its terms in full, and only where permitted by law. Descriptions of syndication on this site are general information about how Promesa works and are not a recommendation to invest.
Investment risk
Real estate investments involve risk, including the possible loss of principal. Rental income, occupancy, operating costs, capital needs, interest rates, the availability and terms of credit, property values, appraisals and tax law all change; a leveraged property can lose more than the cash invested in it; a refinance depends on a lender and an appraisal that are not in your control; and real estate cannot be sold quickly or at a set price. Past performance does not guarantee future results. Figures shown on this site, including examples of returns, cash flow, cap rates, equity or refinance outcomes, are illustrative unless a specific property page states that they are actual, and even then they are as provided by the seller or as underwritten by Promesa and should be independently verified. No strategy can eliminate market risk or ensure that a portfolio grows in any given year.
Property information
Information about properties is deemed reliable but is not guaranteed. Square footage, unit counts, rents, expenses, year built, zoning and other figures are as provided by sellers, public records or Promesa's own underwriting and may contain errors or change without notice. Buyers should verify all information independently and through their own inspections and professional advisors. Availability is subject to prior sale, withdrawal or change of terms.
Listings from the MLS
Some pages of this site show properties listed for sale by many brokerages, not only by eXp Realty, through the Internet Data Exchange (IDX) program of the Oregon Data Share, the multiple listing service that serves Southern Oregon. Those listings are displayed by Ryan McMillan, a broker with eXp Realty, under eXp Realty's supervision. Each listing names its listing brokerage. Unless that brokerage is eXp Realty, neither Promesa nor eXp Realty is the listing broker for the property, and Promesa represents a buyer only under a separate written agreement.
MLS listing information is supplied by the listing brokerages. It is deemed reliable but is not guaranteed accurate by the MLS, and it is refreshed from the MLS regularly but may not show the latest status, price or availability; confirm it with the listing brokerage. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The MLS listing information is the copyrighted compilation of Oregon Data Share, LLC, and listing photographs belong to their owners. Where a seller has asked, a listing's address, or the estimates described below, are not shown. Listings are chosen for display only by objective criteria such as property type, location, price and status, never by brokerage or by any compensation offered.
Our Take
Beside some MLS listings, Promesa shows Our Take: Promesa's own estimate of what the listing's asking price implies in its first year, such as the net operating income, cap rate, cash flow, cash-on-cash return and debt coverage, under the financing and other assumptions it states. Our Take is prepared by Promesa, not by the listing brokerage or the MLS, and is shown apart from the listing's own information, with its sources named.
Our Take is not an appraisal, not an opinion or estimate of a property's value, and not a competitive market analysis, broker price opinion or letter opinion. It does not say what a property is worth or what anyone should pay for it. It is not a promise or a prediction of income, returns or any result, which will differ. Figures it takes from a listing are as the listing brokerage supplied them and have not been verified by Promesa. If a seller has asked that automated estimates not be shown with a listing, Our Take is left off it. To report an error in Our Take, email ryan@promesa-properties.com; we correct what is wrong.
Working with buyers and compensation
Oregon law requires a written buyer representation agreement when a broker represents a buyer of residential property of up to four units, and the rules of the Oregon Data Share require a written agreement before a broker tours such a home with a buyer. The agreement states how and how much the broker will be paid. Broker compensation is not set by law and is fully negotiable. Offers of compensation between brokerages are not shown on this site.
Electronic records and signatures
Where you agree, we prepare, deliver and sign brokerage forms and other documents electronically, and the records of a transaction are kept electronically. An electronic signature made through our tools is intended to have the same effect as a handwritten one under the federal E-SIGN Act and Oregon's Uniform Electronic Transactions Act. You may ask for a paper copy of any document at any time, and you may withdraw your consent to electronic delivery by telling us in writing, after which we will use paper; withdrawing consent does not undo documents already signed. To use electronic delivery you need a device with a current web browser, an email address, and the ability to view and save PDF files.
Wire fraud advisory
Criminals target real estate transactions by sending emails that look like they come from a broker, an escrow officer or a title company and that change wiring instructions at the last moment. Promesa will never email you wiring instructions or a change to them. Before wiring any money, call your escrow or title company at a number you have verified independently, not one taken from an email, and confirm the instructions by voice. If you suspect fraud, contact your bank and law enforcement at once.
Communications
By giving us an email address or telephone number you agree that we may use it to answer your request and to communicate about a transaction you are part of. Marketing email is sent only as described in our Privacy Notice and always with an unsubscribe link. We do not send marketing text messages or make marketing calls, including by automated dialer or prerecorded voice, without your prior express consent, and you may withdraw that consent at any time. Standard message and data rates may apply to texts you agree to receive.
Fair housing and equal opportunity
Promesa Investment Properties, Ryan McMillan and eXp Realty support the Fair Housing Act and the Equal Opportunity Act. Services are provided without regard to race, color, religion, sex, disability, familial status, national origin, sexual orientation, gender identity, marital status or source of income, or any other class protected by federal, state or local law. Equal Housing Opportunity.
Imagery
Photographs of specific properties on the Properties page are of those properties unless captioned otherwise. Other imagery on the site is illustrative; some photographs are used courtesy of Unsplash and do not depict Promesa properties.
Website use
This site is provided as is. We aim to keep it accurate and available but do not warrant that it is free of errors or interruptions. Links to other websites are provided for convenience and do not imply endorsement. Content on this site is the property of Promesa Real Co LP or its licensors and may not be reproduced without permission. The Terms of Use govern your use of the site, our handling of information is described in the Privacy Notice, and our Accessibility Statement says how to reach us if any part of the site is hard to use.
Contact
Ryan McMillan, Broker, eXp Realty, Oregon license 201262100. ryan@promesa-properties.com · (541) 941-8301 · Promesa Investment Properties, c/o eXp Realty, 4800 Meadows Rd, Ste 300, Lake Oswego, OR 97035.