All Forum Posts by: Allen Smith

Has anyone used or have knowledge of an Emon Dmon meter to separate utilities on a property with one meter. Just wandering how effective and functional it is?

Want to take an exterior laundry room that is not heated or cooled and make living space. What type of heating in acceptable to be able to add to the square footage. Is there some type of wall unit that is acceptable and inexpensive. Has plumbing. Just need flooring and insulate. Anyone have any good idea's or something they have done previously. Just window units and floor furnace inside the house 

Need recommendations for a good real estate attorney. Have possible litigation against the title company. Oklahoma City area. Thanks!!

Have the opportunity to purchase 2 mobile homes for around 25K. Both in very good condition 2b-2ba. Single wide. Lot rent $275 includes property mgmt as well as water/trash. Property manager screens tenants. Nice MHP and well maintained. Will be paying cash. Should get $700 month rent minimum for each. Keeping 23% out for reserves still cash flows $428 month, over 20% Cash on Cash.  Thoughts?

@Joe Funari thank you some much. They are doing a 4 year lease. Thanks for the info!!

We have a family that is coming from Canada on a 4 year military commitment. Wanting to lease our home for 4 years. Only problem is getting background check and credit report because they don't have a SS number.  Does anyone have experience? We are impressed with the family. They have a military clause in the contract, basically says if he is reassigned or released from service, they can give 30 days notice to be released from the contract.  Anyone have suggestions-pro's and con's?

@Tenzin Gyaltsen sign up for the Oklahoma City Real Estate Investors facebook page. You can get some good information as well as making contacts. Nathan Miller with Keller Williams has both residential and commercial experience. Will do you a great job. Not able to make a sound recommendation on property manager.  @Kurt Michaelson was dead on with meet up groups. 

Allen Smith

Thanks @Tchaka Owen and @Amanda G. I know your right on the 25% down. Was just wondering if anything else was out there I hadn't seen yet. I do have to HOA dues figured in. Properties are in Oklahoma. These figures are based on highest possible price, reserves and terms all the way around. Thanks for the heads up on average Cap rates in Oklahoma.

View report Does this deal make sense. Based on no rehab cost. Think I have been very conservative on Reserves. Will be my own Property manager in the beginning, but have figured in that cost. Is there better financing than 25% down. I have a portfolio lender that will do all 3. Haven’t dug deeper with other lenders yet. What options are out there. Dropping $130k isn’t ideal but want 30 year financing. 

*This link comes directly from our calculators, based on information input by the member who posted.

Good call out @Gareth Fisher. CC, taxes and holding cost are figured in. Utilities I did not. Rehab costs are my concern, but get quotes, find someone you like when it is over, and get better. Have 2 we are doing so going to use different on each. Thanks!!