All Forum Posts by: Account Closed

@Kingsley Edemidiong What's your model?

If you are looking to start investing up in Tulsa I would keep on the lookout for the areas you know about in edmond/okc or potentially look into other areas of the metro too just for options while you are researching. 

@Garrett Smith I like your pros and cons of what you are planning on doing. The cons of developing a sense of the local areas will come with time and a great team who is wanting to succeed together! I believe whenever you decide which market is best for you and your goals you will narrow more into whichever city that may be!

Narrowing in on a market just depends. Each market has both good/bad/better areas to invest. When it comes to managing from a distance, I would recommend some good property management companies of the local areas that many investors use as well.

@Toby Khan No problem! Inventory naturally tends to slow down this time of year due to going into the winter time. I believe this summer in OKC and all of the metro areas were almost at an all time high or at least normal even with the pandemic! The market was honestly insane this summer, and business was and is still booming for properties that are listed well. Yes, Midwest City has a high rental pool, and Tinker AFB is a great place for jobs, military members, vets (like myself) and all of their families! Myself and many of the other Realtors in my Brokerage love working with investors in this area and many invest in the area too, including myself. 

@Toby Khan I believe Enid is a cute small rural town. It's about an hour and a half away from Oklahoma City. From an investing standpoint, I believe (at least this time of year) may be a little harder to find a solid renter pull compared to Oklahoma City, the metro area and closer surrounding suburbs. That's just my point of view from being from and growing up in Oklahoma City. Now, I don't want to say it's a horrible place to invest, but I would do more research into making sure it's the right place from you. Enid has a population right around 50,000 people and can attract specific people for jobs, people looking at owning land, etc. 

I hope this helps, if you want to connect, I am happy to help answer more questions.

@Maxwell Hutchinson I believe @Brian Ellwood and @Daniel Utley had phenomenal points on whether you should take the time to get your real estate license or start learning and investing sooner. I think what you are leaning towards should primarily be learning everything in order to be a better investor. With that said, you can also maybe pursue getting a license on the side because it does have benefits like Daniel mentioned.

More benefits of getting a license is that you can see properties on your own time, get instant access to all of the current data, and get to keep commissions/apply them to your deals. There is also the potential for some killer tax advantages depending on your situation. The main disadvantages would be the up-front cost to becoming licensed, the fees to maintain your license, caps (different per brokerage), the amount of time it will take to get your license and the amount of time it'll take away from learning more about investing/doing deals. Although, if you do enough transactions either for yourself or picking up retail clients, it's easier to justify those costs.

@Sakib J. , @Ethan West , @Tim Jenkins , @Zack Williams I hope y'all have found people to help you learn more about OKC or to reach your goals! More than welcome to help out too.

@Mark Belenky Yes she would be able to use the FHA loan if she meets the requirements and if the investment property is not her personal residence/living there.

@Mark Belenky

https://www.fha.com/fha_loan_r...

@Mark Belenky Congrats to both you and your girlfriend for living in y'alls first house hack together and are already looking ahead into the future!!!

FHA is designed in order to help homeowners, not investors. They require that the FHA loan be used for only owner-occupied properties. But with all that said you can still use the FHA loan to buy a rental property - as long as you live there. FHA Loans can cover a 2 to 4 unit rental property as long as you can prove that one of the units will be your permanent residence, you intend to live in it for the majority of calendar year and meet all other requirements. You can then rent out the other 3 units. She can also use the FHA loan if she already has bought investment property before too.

@Jonathan Greene I like your post and believe that all the other posts under @Ryan Guffey will really help him in his journey into real estate investing! Financing is a huge aspect of knowing if/when we are able and ready to finally get our toes wet after we have the initial education out of the way. Having financing in order too will allow us to know what we can qualify for.