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Updated over 6 years ago,

User Stats

24
Posts
8
Votes
David Groemping
  • Rental Property Investor
  • Austin tx
8
Votes |
24
Posts

Feedback Request: Getting Cash Flow in OKC

David Groemping
  • Rental Property Investor
  • Austin tx
Posted

Hi everyone,

I am a new investor looking to do begin a long and profitable long distance REI business.

I was hoping to get some feedback on the numbers I have been running on long term buy-and-hold SFHs around Oklahoma City. The example I am including here is in Moore, OK.

As a little background, My intended investing strategy is to buy properties in great school districts and rent them out to nice families who will hopefully take good care of the property and stay for a while. This has led me to look at properties in the following high school districts:

>Mustang

>Moore

>Westmoore

>Southmoore

>Edmund and Choctaw fit his bill as well, but the values in Edmund seem too high and there does not seem to be a lot of market activity in Choctaw (please correct me if I am wrong).

The strategy behind these numbers is to buy in cash and then perform a cash out refinance a little down the line. Executing the BRRRR strategy I believe. Anyhow, I cannot seem to get the numbers to work (even with a very low purchase price) in terms of getting a decent cashflow while not leaving any/much cash in the property.

Here is a link to my spreadsheet:

https://drive.google.com/file/d/11Kqncpzvf186H3ZT79k-YQLwUrb7Zrkx/view?usp=sharing

I have gone through to run the numbers on a number of SFHs in the area and come across the same issue. The example property that I choose for this exercise is linked in the spreadsheet, and also here:

https://www.zillow.com/homedetails/301-Christopher-Todd-Dr-Moore-OK-73160/21724583_zpid/?utm_source=email&utm_medium=email&utm_campaign=emo-sendtofriend-hdp&rtoken=f8e8cae0-6504-4b77-955d-a4d46f9ef4cd~X1-ZUwc7v4kuhxiix_82rpg

My first assumption is that the holding expenses I have collected are off, but I am sure there could be a myriad of things that I am missing.

I know there are a lot of you out there who ARE making the numbers work, so I would very much appreciate any/all advice!

Many thanks,

David

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