All Forum Posts by: Michael Slockers

I stumbled on this thread. How did this turn out @Sharetha H. ? 

I bought one in Tulsa that had no furnace, but was all set up for one. I tried to get away with baseboard units and even the window unit had heat, but I eventually went with Section 8. Those guys explained my options and central furnace it was. Section 8 team also explained to me about the baseboard units basically driving tenants broke. So incredibly inefficient. Sometimes we need to make the tough financial choices and help people get a little ahead. 

As a point of reference, a furnace purchased online, enough for a 1200 square foot house, is only about 420 shipped. Installation costs vary of course.

Would like to hear where you end up. Winters in Tulsa are quite cold, especially with the humidity. But no doubt there are plenty of people around who live without a furnace.

I would recommend reaching out to @Deren Huang and get on an MLS list for what's available in duplexes.

Where in Tulsa?

What if I've mistakenly put a house under contract within the 90-day window? What are my options?

Technically I shouldn't get a contract to sell this flip until December 8. Do I cancel the contract and then get a new one dated December 8?

Hey @Marcus Trujillo, first off congrats on starting to save so you can take action!

Yes, I would agree you should do SOME reading. But as I've learned in the last 2 years, the best thing is to start pounding the pavement, talking to lenders, insurers, contractors, landlords, and go take action! 

I firmly believe you can cash flow in the markets you mentioned, but is that your goal? I don't believe in your introduction you mentioned WHY you want to be an owner/investor of real estate? It seems if you can save 2k per month, maybe cash flow isn't your main desire?

I think @Steve Gregory has a wonderful strategy for the cheaper properties which may also be manageable from a distance. One consideration if you're able to save up a chunk of cash (up to 24k per year?) is to become a private investor or JV on local deals. May be the best of both worlds?

Last note: for Tulsa, I'd suggest you stick to B-class areas, find a good property manager, and also stick to the 70-100k price tag for something that is rent-ready. From a distance, I'd be hesitant to get something that needs a lot of work. These properties will rent for 750-1200 if bought right and in the right areas.

Good luck and keep us updated!

@Madison Blaxton, would like to hear more information on what you're looking for. What types of deals are you needing to fund and what is the exit strategy?

welcome @Brandon Shreffler!

welcome!

@Gleason Jones Congrats on starting! The answer is, it depends!

If you're looking for a single (or multiple) specific houses, then your options are to mail to that address or, more accurately, as mentioned, look at the owner's address on the tax site.

If you're wanting a list of a certain type, then you could go to listsource.com or another list provider.

@Lucas Machado I would beg to disagree on your owner-occ comments. Owner-occupied is a much less utilized list (less competition) and if done right can get some leads. One thing to consider is: did you only send one letter to each of the 500 recipients? Did you consider mailing those 500 owners 3, 4, or 5 times using different letters/formats?