All Forum Posts by: Betsy Nolan

Solomon, you are off to a great start.  Happy to discuss OKC if you need a local perspective. 

Have you tried listing it for sale here on BiggerPockets?

Kinnari

OKC is great. We did have a place in LA for 18 years. Cash flow is better here, but appreciation is less (CA is off the charts for this metric compared to most of the country, so it's not that OK is bad- depends on your goals and expectations). OK is more landlord friendly. Less people are long term tenants here, though, so expect more turnover. Historically the slower appreciation is probably true, but the market has changed. OKC is growing like crazy. In the right area, you will probably do well. However, you probably won't find a single family home in Bricktown. Nothing against Bricktown, but it is more apartment buildings/condos in terms of the housing. There are other areas in the "urban core" that might be more what you are looking for. Try SoSA district, Paseo, Jefferson Park, Uptown, Wheeler, Plaza District etc if you are specifically looking for SFR. Plug in with a local realtor. Agree with AJ Wong above re the tower thing- if it gets built, great. But don't make investment decisions on that. Overall, though, economic growth in OKC is doing well v the rest of the country. More big employers are coming here. Industries are more diversified than in the past when the local economy went however the oil and gas industry went.

Thanks everyone!  So yes, it's a compounding pharmacy and I was sort of picturing mixing things with a mortar and pestle type device.  Or like we had a cream we had to rub in our cat's ear for heart failure that we would get from a compounding pharmacy.  But uggh she did not say anything about punching holes in the roof?  I guess I need to go back to her with some additional questions on what exactly she'd be compounding/selling.  It is NOT a MJ dispensary though.  I did ask about that.

Is there anyone who has experience leasing to a compounding pharmacy?  We were approached with this and I initially thought it would be a great fit, but went home and got chewed out about the toxic chemicals and liability.  Just wondering if anyone has done this and what safeguards (contract, insurance additional coverage etc), if any, they felt were necessary, and if they've had any unexpected issues.  We do owner occupy the space below it, so don't want ourselves and our staff exposed to hazardous chemicals either.  Thanks.

Lesli,

Just sent you a message :)

 Hi Leslie!  We're in OKC too.  Happy to chat.

It is in the lease.  She is one of those people who is so important that the rules really don't apply to her.  But I like your idea of an incentive to use the system- carrot rather than stick - because the late fee disincentive which she has already accrued doesn't seem to change over her behavior.  Then maybe it feels like her choice. 

We have Hemlane and none of our other tenants have had any trouble using it to pay their rent, but there is one tenant who seems to not want to use it.  It was pretty difficult to get her to set it up in the first month, and now 3 months into the rental, she was on a trip to NY and got robbed, so needs to set it up with a new account to pay her rent and it's going on a week now, rent is late, and she is blaming Hemlane, meanwhile texting/calling us for tech support and calling Hemlane and saying she paid with debit card before (which is NOT true, we only allow ACH transfer), so Hemlane keeps telling her we have to change the settings to allow her to pay by card.  I do not want to change the settings. I want her to pay her rent with a bank account, like she had been doing, and she had agreed to in her lease.  Then she wanted to leave a check in the mailbox (we live locally) and have us come pick it up (to avoid using Hemlane, but if we do this once, that would be the method she would choose for every month going forward.  Also, the mailbox is not locked, so what if she says she put a check in there and it's not there when we arrive?  It also forces us to make a trip over there at our expense and her convenience, do the accounting manually, and deposit the check manually (probably mobile, but still stuff you don't have to do with the ACH transfer).  Has anyone on Hemlane had this problem with tenants circumventing the use of Hemlane or basically just refusing to use it?  Any solution to this?  I'm also finding it super frustrating that Hemlane's answer is to tell her that we need to change something on our end.  They need to just instruct her how to put in her bank account and routing number.  I actually called and spoke with someone and they explained that they told her that because she was insisting that she paid by card before (that is not the case, though it may be incorrect recollection on her part rather than actually just lying to them to get to pay the way she prefers).

Hemlane hasn't handled any maintenance or turnovers for us yet, so I can't speak to how they would do on that.  But just wondering if we should continue with it honestly if certain tenants will just choose not to use it and they are telling the tenants to contact us.

We have Hemlane and none of our other tenants have had any trouble using it to pay their rent, but there is one tenant who seems to not want to use it.  It was pretty difficult to get her to set it up in the first month, and now 3 months into the rental, she was on a trip to NY and got robbed, so needs to set it up with a new account to pay her rent and it's going on a week now, rent is late, and she is blaming Hemlane, meanwhile texting/calling us for tech support and calling Hemlane and saying she paid with debit card before (which is NOT true, we only allow ACH transfer), so Hemlane keeps telling her we have to change the settings to allow her to pay by card.  I do not want to change the settings. I want her to pay her rent with a bank account, like she had been doing, and she had agreed to in her lease.  Then she wanted to leave a check in the mailbox (we live locally) and have us come pick it up (to avoid using Hemlane, but if we do this once, that would be the method she would choose for every month going forward.  Also, the mailbox is not locked, so what if she says she put a check in there and it's not there when we arrive?  It also forces us to make a trip over there at our expense and her convenience, do the accounting manually, and deposit the check manually (probably mobile, but still stuff you don't have to do with the ACH transfer).  Has anyone on Hemlane had this problem with tenants circumventing the use of Hemlane or basically just refusing to use it?  Any solution to this?  I'm also finding it super frustrating that Hemlane's answer is to tell her that we need to change something on our end.  They need to just instruct her how to put in her bank account and routing number.  I actually called and spoke with someone and they explained that they told her that because she was insisting that she paid by card before (that is not the case, though it may be incorrect recollection on her part rather than actually just lying to them to get to pay the way she prefers).

Hemlane hasn't handled any maintenance or turnovers for us yet, so I can't speak to how they would do on that.  But just wondering if we should continue with it honestly if certain tenants will just choose not to use it and they are telling the tenants to contact us.