All Forum Posts by: Account Closed

OK, thanks.  I'd never touch a garden hone or a townhome so these must be gated.  Mostly in Edmond in the 200K range.  Seeing lots of high HOAs

I own 4 SFH rental properties in the $175K to 200K range in AL, AR, KY, and SC and am looking to invest in OK with my next purchase. One thing I've noticed is that in the Edmond area monthly HOA fees seem to be far higher than the other places I've invested. Is there something unique to the Oklahoma City area that explains this? Nearly every 3/2 or 4/2 I'm looking at in Edmond or Yukon has a profit-killing monthly HOA fee between 150 and 250 dollars.

Oh, I understand why you were asking the questions now.  I'm interested in a general sense to narrow zip codes.  I own 4 rentals now in 4 different states and am considering where to go for number 5.  I buy less than 10 year old single family homes in middle-class quality zip codes in Republican-controlled states with low taxes and landlord-favorable laws.  I'm long term buy and hold, so quite different from your strategy.

By the way, I have found the so-called "turn-key properties" to be shockingly bad prospects for individual investors.  Most appear to be sucker bets.

Gross yield is a well understood concept among rental property investors.  I am not sure how a service like RealtyTrac "calculates" gross yield but they do estimate them.  Sales prices are of course public and I suppose one could do a survey of rental asking prices to get a sense of it. 

I recognize gross yield also changes with respect to the value of the home.  More expensive properties in any given ZIP code will tend to have lower yields.  Perhaps RealtyTrac uses a median value.

Purchase price.

"Gross" means before expenses.

I'm looking for a data service that can give me the following data by ZIP code or County, in order of importance:

1. Gross average rental yields

2. Vacancy rates

3. Unemployment rates

4. Median family income

5. General demographic data

Numbers 3, 4, 5 are generally available for free, but I'm having trouble with 1 and 2.  I'm willing to pay, but I can't find a good service.  RealtyTrac seems to have this data in some of their quarterly reports, but I can't see where it is offered for sale generally.

Hi, I have 4 investment properties which are covered under my existing personal liability umbrella policy.  My carrier stops there though.  Does anyone know of an insurance carrier that will underwrite my primary house, cars, and more than 4 investment properties?   

These are not held in an LLC and I don't plan to do so.

Ariana, purchase price was 192k and I'm looking for LTV around 70 to 75pct

Thank you both for your replies.  I think continuing with Fannie Mae lenders up to 10 properties (assuming I can find one) is going to make the most sense, as I'm certain I will qualify under their criteria and the rates and terms are much more favorable.  

I'm still looking though for a lender than can underwrite in KY for 5-10 financed properties with delayed cashout financing.

I have reached the standard Fannie Mae limit of 4 financed properties and just bought a 5th with all cash for just under $200K.  Property is a 4 bedroom single family home in northern Kentucky.

I'm seeking either a portfolio lender or a lender that participates in Fannie Mae's 5-10 financed properties program and can do a "delayed financing" cash-out on an investment property.  I prefer a 30 year fixed term but will consider others.