looking to build a team in OKC to BRRRR

[Mike Ghajari]

Hi everyone. I have decided to invest in OKC and suburb. I would like to BRRRR. I am ok to leave some money in the deal. I am a newbie, however, I've read and also attended multiple programs about BRRRR strategy. I leave in California. I would like to build a team in OKC. I would appreciate any referrals and advice. I'm also looking forward to connecting with any Out of state investors who are investing in OKC.

Thank you in advance. 

[David Navas Rocha]

Hey Mike! 

David here. I work with investors all over Oklahoma. I'd love to partner up and see how I can be of assistance. 

[Mike Ghajari]

@David Navas Rocha 

Hi David. I would like connect. Thanks 

[Stephen Blake]

Hey Mike! If you're needing a property manager we should be able to help you out!

[River Sava]

Hey Mike! Always happy to connect. I have linked below a BP article that goes over the nuances of BRRRRs. Good luck and feel free to reach out! 

BP Article on BRRRRs: https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

[Mike Ghajari]

Thank you everyone for the feedbacks and advice. I decided not to proceed with the investing in OKC. I am now looking at Columbus, Cincinatti or Cleveland in OH. 

[Remington Lyman]

Quote from @Mike Ghajari:

Thank you everyone for the feedbacks and advice. I decided not to proceed with the investing in OKC. I am now looking at Columbus, Cincinatti or Cleveland in OH. 

 Welcome to the Ohio market!

[Jessica Larson]

Quote from @Mike Ghajari:

Thank you everyone for the feedbacks and advice. I decided not to proceed with the investing in OKC. I am now looking at Columbus, Cincinatti or Cleveland in OH. 

 Would be happy to send you information and connections in the Cleveland area!

[Jake Baker]

@Mike Ghajari

OKC is a great market! I also live in California and invest out of state. 

Check out the Build Your Team section of BP: https://www.biggerpockets.com/real-estate-companies

I found my investor-friendly agent first and she was able to refer me to the rest of my team. best of luck!

[Lemuel Bolanos]

@Mike Ghajari - Happy to help you keep exploring OKC when the time is right. I know OH is a great market and you also wont go wrong in OK. Let me know if anything changes. 

[Lemuel Bolanos]

@Jake Baker - Great Insights man. Sent you a Linkedin Connection as well. Lets chat about collaborating in OKC. Love the services you can provide all my investors as well. Great opportunity to partner in those services as well. Talk soon! 

[Joseph Bui]

I've done several BRRRRs in a couple midwest markets (Memphis and Detroit). In all my deals, I've left a few thousand after refinance. Its good that you are ok leaving a a little bit in the deal but its hard to get it all back these days. Would be happy to connect and knowledge share about what you are seeing in your markets.

[David Leggett]

Even with prices going up, I still think you can find some great BRRRR deals in Cleveland as long as you act quickly and put strong offers in on the properties as soon as it hits the market since there a lot of other investors looking to do the same thing.

But the money is really made or lost by the team you put together.  It's really about finding those good contractors who can give you accurate quotes and timelines, as well as having an expert agent / broker who specializes in investment real estate and can help you identify these properties as soon as they hit the market.

Some people will say you can only find BRRRR deals off the MLS and through wholesalers, but my experience is the wholesalers drastically over inflate the projected ARV and you can find similar priced properties on the MLS and their properties generally need a lot more work than they're letting on.

[Patrick Drury]

@Mike Ghajari
If you are looking in Cleveland I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

[Stuart Udis]

No matter what market you invest in, whether it’s in your backyard or out of state/more distant I cringe when I hear investors share they “want to a assemble their team”. It’s not that easy and even when you believe you have all the puzzle pieces in place, you will be replacing those pieces constantly. This particularly holds true for Comtractors/ Sub Contractors who have notoriously bad business acumen. In many cases it’s not their actual work that’s their undoing. It’s importantly to never take your peddle off the gas and constantly be adding new vendors to your rolodex. I see too many become complacent and then find themselves stuck. Also, if you are chasing the cheapest options (usually those without adequate insurance and licensing), you’re going to be spending more time repeatedly replacing those puzzle pieces. They are usually the vendors who are least reliable. 

[Joshua Janus]

Quote from @Mike Ghajari:

Thank you everyone for the feedbacks and advice. I decided not to proceed with the investing in OKC. I am now looking at Columbus, Cincinatti or Cleveland in OH. 

Cleveland has a good amount of value add deals for sure. Before getting into them though I would prepare to reach out and connect with dozens of contractors. I have renovated / BRRRR'd over 50 houses in the area and that was my biggest challenge getting into it.

[Monica Gibbs]

Quote from @Lemuel Bolanos:

@Jake Baker - Great Insights man. Sent you a Linkedin Connection as well. Lets chat about collaborating in OKC. Love the services you can provide all my investors as well. Great opportunity to partner in those services as well. Talk soon! 

 Hi Lemuel,

I'm interested in deals in Oklahoma. I've followed your link and filled out the form. Hope to speak with you soon.