All Forum Posts by: George Walker

Hello,

I currently have a VA Loan on my Primary Residence in Edmond OK. I would like to refinance my current VA Loan and pull out the cash. Anyone know of any OKC lenders that do VA Loans?

Thank you!

@Val J.

It's a solid market. I currently own 2 single family rentals there but I live in Oklahoma City. I'm in the process of selling them to put my money into Multifamily properties - apartments and mobile home parks. I have a rental by the base so it mostly gets air force people and another rental in the city, near the shopping areas. Here is what I have learned from both properties. Do yourself a favor and get single family homes in the city and upgrade them with countertops/flooring/paint. This way you can charge a premium rent price and they will rent fast. My rental in the city was at 5322 Langford until I recently sold it. It was always rented out that same weekend that it was listed. But it had granite countertops and laminate flooring throughout. I can recommend a great real estate agent there, if your interested. I don't get a kickback and used her to sell my rental property at Langford and she did a great job. 

@Clay O.

Thanks for the information!

Hello!

I'm looking for recommendations on quality Property Management Companies, in Tulsa, OK, that have experience managing Class B/C apartments with 100+ units.

Thank you for the assistance!

@Javier Fernandez You only need a business bank account if the property is in the name of an entity, such as an LLC. Banks will charge you a monthly fee for a business bank account, they charge me $20/month for mine. If the property isn't in the name of an entity, but in your personal name, then you can get a regular account.

@Deborah Burian

Thanks for the input Deborah! I will use Carbonite (5.99 monthly) for encrypted cloud based storage and then keep all my receipts in Google Drive. I hate having receipts and paperwork pile up everywhere.

@Mike McCarthy @Lucas Hammer

Thanks for the input Mike and Lucas. I will use Google Drive for saving receipts but will keep the leases and applications in a cabinet, just like I always do.

Hello everyone,

I'm curious if any landlords are using online storage (google drive, etc) to store their tenant documents (lease, applications,etc). If so, are you worried about it ever being hacked and then the tenants information (social security numbers, etc) will be available - are you liable for this? Instead of Google Drive or similar products do you use some type of encrypted online storage instead?

I'm a self-managing landlord and just started using Rentec Direct (property management software). I love it so far! Very easy and intuitive and the support is top notch!

Anyone interested in starting a Mastermind Meetup in Edmond/OKC for multifamily property owners? I was thinking this meetup could focus on people, that own/or want to own, multifamily (residential or commercial) properties. The goal of these meetings is to get like-minded people together that specifically own multifamily properties and share knowledge and information. I know there are local REIA meetings each month but I don't want to network a whole room of people just to find folks that own multifamily properties. Also, I don't want to sit through a sales-pitch or any seminars about programs that I'm not interested in. My goal with starting a meetup is to get people together that share a similar experience (multifamily properties) and help each other out with recommendations, good/bad experiences, and accountability. Accountability means we can share our goals and then report our progress at each meeting. It's a good way to stay focused and forces us to take action. Also, I'd like to share knowledge via Google Drive. We can upload documents (appraisals, spreadsheets, etc) to the cloud and anyone can view them. We can also help each other analyze deals or possible partner on deals, as a group. If I only get one response to this it will be worth it, sometimes going at this business, by yourself, can seem hard.

Thanks for the input! I gave everyone a "vote" and will give these suggestions a try.