All Forum Posts by: Cheree Harris

Looking to connect with real estate investors in the Tulsa and Washington County areas.

So I’m just getting into wholesaling so I’ve been doing a lot of driving for dollars. There is a well known shady real estate company that seems to own ALOT of the run down houses throughout the city that are just sitting boarded up and have for some time. This is also the case for other multiple property owners. I’ve also noticed that they have owned these properties for 5 or more years. How is it beneficial to an owner to buy a property then do nothing with it? I have noted back tax liens, mowing and cleaning liens, etc. so they possibly can’t be making money???

I have sent a few letters out to property owners expressing interest in their property; however, I think my letters are a bit stale. Any examples out there of a good letter?

@Rhett 

@Rhett Tullis thank you so much! I would love to chat with you about the practically abandoned commercial spaces in the area. I also would like to see economic growth over here. 

@Elizabeth Wilson thank you for your feedback. I know there is first time homebuyer funding for this area which is how I was able to buy my home 12 years ago. You just gave me an idea. I am going to inquire about pushing that opportunity for this neighborhood again in hopes to attract buyers. 

Both of you have given me not only good, but positive feedback. @Phillips Williams I don’t think you are being a naysayer at all; you are looking out for me as a new investor and I appreciate you because you  know what it’s like to grow up in these neighborhoods. I do too, even though compared to South Chicago, the areas I grew up in in Oklahoma most definitely can’t compare. @Peter Moser, I appreciate you as well because there have been naysayers but not out of concern for my safety. I’ve lived in these areas all of my life and although I am concerned, it’s moreso for the kids. I have definitely learned a lot from this dialogue alone and know for sure from the both of you that I definitely don’t need to just focus my investing in my own neighborhood. Thank you again! And thank you @Peter Moser for the invitation to further assist me if I need it. 

Thank you for your feedback and the great advice. I am looking now and have a few in mind; however, they are not for sale so I will have to reach out to the owner directly. 

Originally posted by @Alan Norton:

I think that's a great idea for a couple reasons.

You know the ARV from living in the area, so you also know what to offer

You can easily keep an eye on the properties 

As homes become vacant you'll be one of the fist to know

Downside/risk would be letting the tenants know you own the homes & are just around the corner.

Solution is to buy through your LLC & have 3rd party management.

@Phillip Williams thank you for your thoughts. You are absolutely right about the neighborhood being more than half renters and plagued with gangs. I ride through here often just counting the number of empty, dilapidated houses and wonder if it could ever be the neighborhood it once was. I also know it will take plenty of money and support from existing homeowners to turn it around. There is an organization here who revamps bad neighborhoods that used to be good ones and have had some success but I don’t know that it will work in this area where there are two big shopping centers with no retail and are over 50% unoccupied. I know it will be a lot of work but even if I just bought one or two, it will be worth it. @Peter Moser, thank you also for your feedback and encouraging me to move forward. I have done some research and have found that one investor alone owns a lot of the property in the neighborhood and at least 95% of them are empty and have been for years. I find that very strange. I plan to reach out to him to inquire about a house I’ve been wanting for a few years now and hopefully he will want to discuss a deal. 

Thanks David, I’m very interested in wholesaling. Thank you for offering your expertise; I will definitely be in touch.