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All Forum Posts by: Boz Anderson

Boz Anderson has started 3 posts and replied 7 times.

Jason Cornerstone does the 203k loan and you'd be able to do that with 3% down.  Anything over 30k in rehab costs is a bit more complicated of a transaction and requires more fees and regulations.  So if possible I'd try to keep it under that.  But I did a full blown 203k project with a 90k rehab and it allowed me to get my start in real estate.  Good luck! 

Post: Duplex Analysis: Should I buy this deal?

Boz AndersonPosted
  • Oklahoma City, OK
  • Posts 9
  • Votes 4

@Dennis M. You get 1k rents on 30-40k properties? Wow, I need to start looking at deals in PA.

Post: Duplex Analysis: Should I buy this deal?

Boz AndersonPosted
  • Oklahoma City, OK
  • Posts 9
  • Votes 4

I have a duplex under contract in Okahoma City in a class C neighborhood for $72,500.  It has tenants in place paying $525 each.  One is month to month and the other lease is up in April but I've talked to both and they want to stay and are willing to renew.  It has property management currently at 7%.  Manager says they have been great tenants and pay on time.  Property tax is 1100 and Insurance will be $75 to $100 per month.  I would be responsible for water which has averaged $130 per month.  Would you all buy this deal?  Initially I assumed the cash flow would be better than it is.  The place is pretty run down and with some rehab rents could be raised to $700 per side I believe.  I'd like to wait to do any renovations though until my cash reserves are a little higher.  Please let me know your thoughts.

Post: Digital Book Purchase

Boz AndersonPosted
  • Oklahoma City, OK
  • Posts 9
  • Votes 4

I purchased a few bigger pockets books in the digital format.  How do I download these on Kindle?

Post: Looking for a reliable GC in Oklahoma City.

Boz AndersonPosted
  • Oklahoma City, OK
  • Posts 9
  • Votes 4

I'm using Tom Rosser with Gateway mortgage.  I was only able to find about 3 lenders that would do the full 203k and his fees seemed to be the most reasonable.

Post: Looking for a reliable GC in Oklahoma City.

Boz AndersonPosted
  • Oklahoma City, OK
  • Posts 9
  • Votes 4

Thanks for the recommendations.  I will look into each of them.

Post: Looking for a reliable GC in Oklahoma City.

Boz AndersonPosted
  • Oklahoma City, OK
  • Posts 9
  • Votes 4

Hello everyone.  I have a contract on a property and would like to get your recommendations on tried and true general contractors in Oklahoma City.  Looking to do a full remodel on the house using a 203k loan.  Thanks!