All Forum Posts by: Samuel Rushing

I am looking to purchase a fixer-upper to flip. It has a small roof leak that has been temporarily patched, but caused some drywall damage in the kitchen. I don't want to use hard money if I don't have to.

Will this home qualify for a conventional mortgage? Will  it be insurable? I was told I might have to put money for the repairs in escrow at closing, but I am hoping to do the repairs myself. 

Any advice would be appreciated :-)

Greetings Rule, Welcome to the community. Congrats on your baby girl on the way. I have an 18 month old daughter and it is a crazy ride but worth every second :-)

Anyway, welcome to BP!

I live in OKC, so I have at least some region specific knowledge. Good cash flow rentals are fairly easy to find here. However most of the volume for these types of properties is in C or D areas with high turnover/lots of tenant issues. That isn't to say that there aren't any good deals in nicer areas, you just have to really nail your marketing to find them. 

One caveat to this is Townhouses which I feel are much easier for out of state investors. The nice thing about Townhouses in OKC is that the HOAs are way lower than in most areas, much easier to get them to cashflow. If I was going to buy and hold in OKC from out of state I would definitely go that route and I personally know some people who are killing it with that strategy.

Just my two cents.

Greeting Big Pockets community. I am a newbie real-estate investor in the Oklahoma City market. I love networking with fellow investors!

See you around the site,

Samuel