All Forum Posts by: Deren Huang

It is okay to wholesale in Oklahoma, but you have to find the closers that will assign contracts, many do not.

https://www.ok.gov/OREC/Contract_Forms_and_Related...

take a look at some of the forms that are used in Oklahoma, mainly "Residential Sale" get to know that and the language used, after that you can trim it down/make it your own. 

@John Ford

Everything is negotiable when it comes to commissions, but it is very likely that for the sale of a house a broker will take a part. 

Now... leasing out your own rental, it is uncommon to split with your broker, unless you use their resources or leads. 

Sam Epperson Being an agent is not a walk in the park. Most agents don't get past their first year and I believe more than 90% drop out by year 3. There are expenses that a real estate agent has that have been mentioned and many many more that have not. If you do pursue a license, the rule of thumb is to have 6 months worth of expenses saved up.

@Gabby Ugartte

Honestly, you can flip a house anywhere in Tulsa, you just have to buy it correctly. 

Some areas are more saturated than others, so without cash or a crew working for you (competitive edge) you may not be able to get houses there.

welcome back to Tulsa. House hacking is a great idea, especially when rates are this low.

With Interest Rates at a super low rate now, they only have room to go up.

For all the Hard Money Lenders, do your rates slide with what Fannie/Freddy are doing?

For those that do Seller Financing as an exit strategy, do your rates go higher/expect more business?

@Wendell De Guzman

I would go for it, but with hard money I would be hesitant.

For my market that would be a big home (Median price is 150k in Tulsa) considering it is Winter and the market has slowed down, even with the quick renovation you could be stuck with it until later. I'm not a flipper so this is good to work my brain.

When working with Newbies, how do you teach them the multiple ways to purchase and all the different exit strategies without them getting distracted in pursuing all those different avenues?

For me I got distracted when I first started, I wanted to flip then BRRRR then sub2 then lease option. I had to just focus on one to actually get results.

@Wendell De Guzman

Got another pop quiz? Make it a little harder this time =)

In Tulsa, Multi-family deals are usually found off market, (my definition is duplex, tri, and quad, @Jonathan Gobbo may be thinking larger since he is commercial)

Only 52 on the market currently, and the MLS is a pretty large area

@Charles Atkins

@Keith Lewis

On my next rehab I am going to try it out. Hopefully, It will be a good investment.

Thanks for the tips for the latex floor primer and roller.