All Forum Posts by: Brian Nix

Welcome Jeff and good luck with your business. The market is ripe for a company such as yours that offers good prices AND customer service. Please provide contact info and I'll contact you the next time I or a client has a need. 

Thanks,

Brian

John,

Welcome to BP! I'm a full time investor here in OKC and would love to do some deals with you. I work with several wholesalers. Shoot me an email and we can talk details. Good luck!

[email protected]

Shoot me an email and we will talk. I am an active investor here in OKC and always looking to buy. Love dealing with wholesalers.

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Gotcha. Don't think it matters either way. At the end of 24 months, if they can't perform, you get the property back either way (and the $20K). Whether you call it option consideration or a down payment, it's really the same. Many gurus teach to have a separate lease agreement and option agreement  and call the down payment " option consideration", but I can tell you from experience that if the tenant buyer wants to fight you in court, the perceived benefits of structuring it this way are out the window. I am not an attorney, just an investor that has experienced this first hand.  

Brian

Sell, for sure. Long distance rentals are often painful. If your length of residency is unknown, why not focus on wholesaling until you settle down? That way you can exit deals much faster and stay flexible (and portable). 

Brian

Brandon, Please clarify your interpretation of the difference between a lease purchase and lease option. I've always used them synonymously. I do a ton of these and would love to chime in. I'm here in OKC. Let me know what you mean. Brian

Welcome to BP! It's a great time to get started and I bet you are excited about acquiring your first rental! I'm an active investor here in OKC. Let me know if I can help you. 

Brian

Abdulrahman,

Eric is correct, you do not need a license to flip houses. It is convenient to have access to the MLS. I wouldn't count on getting the inside track on deals hitting the market though. If it's a good deal, the house will garner multiple offers on the first day it hits the market. Therefore, it will go to a multiple offer situation and will ultimately get bid up. Not that deals can't be had this way, but the odds of snagging a deal before anyone knows about it is very, very small. Most savvy investors are already set up on a auto notification from their Realtor so they find out about it at the same time you do.

A license does offer a competitive advantage because, like Eric said, you can list your own houses and save part of the commission AND you can collect a commission on the front end essentially lowering your purchase price. 

Hope this helps!

Brian

Cory, If you are interested in passive investments in the OKC market and have investment capital, a great route to go is loaning money. Be the bank. No tenants or toilets. That's about as passive as it gets. Shamelessly, I'll plug my company. 80% of our portfolio here in OKC is funded with private money. We pay our investors 12% interest, have conservative LTVs, and cut no corners. We currently have 2 attorneys that loan us money who would provide a reference. Let me know if you would like more information. Brian

Can't make it this month but am looking forward to the next one!