All Forum Posts by: Jimmy Martz

@Andrew Syrios sorry about that.  https://www.biggerpockets.com/renewsblog/brrrr-buyrehabrentrefinancerepeatprimer/

Here is your article that I read and appreciated.   Not directly related to this post but still good info for those following along. 

@Wayne Brooks thanks for The clarification.  

Hey guys!

I read this article(link below) by @Andrew Syrios and I have talked to several lenders that I know in the area about this. None of them have any experience with this or have even heard about it. The premise is that with the delayed financing exception, you can pull 100% of your purchase + rehab costs back out without waiting the 6 month seasoning period up to 75% LTV. Has anybody in the OKC market used this strategy? Any recommendations for lenders or loan officers that are familiar and comfortable with this strategy?

https://www.biggerpockets.com/renewsblog/work-with...

@Ron Harris and his wife Angelina have a brokeradge that is investor-friendly.  I got my license for many of the same reasons and that is where I chose to hang my license.  Their structure suits my needs well.   

@Marc Stewart I usually just hire sub's for my rehabs but I recently used Dil's Handymen after hearing about them at the OKC deal makers session.  They did a great job at a fair price and had the job finished in 2 days.  It was a small job since it was the first time I have used them but I was impressed.  PM me if you're interested in getting some contact info for them.  

@Chris Biltoc Good to see a fellow Yukon investor.  Feel free to reach out if there is anything I can do to help!

@Eve Oliver I am working for Spearhead Realty, an investor-friendly brokerage out of okc. 

@Eve Oliver i took my licensing course through realestateexpress.com. It gives you 6 months to complete the course but i was able to get it done in a month with a few hours each day.   I took the licensing exam and passed the first time so I think the content will sufficiently prepare you for the licensing exam.      

@Ron Harris has a brokerage that is investor friendly and I know that many people speak highly of the training him and his wife offers.  You might check with him.  Good luck. 

@Patrick Lee I wish buying a good deal was as easy as looking on a website & picking out a good deal. I haven't had any luck with online sources(excetp zillow FSBO) but then again, I'm not bidding on 10 properties a day either. Here are some places I look.

Hubzu.com

Auction.com

Hudhomestore.com    If your strategy is house hacking, definitely check this out because owner-occupants get first shot at properties before bidding opens up to investors!

Oklahoma county assessor has their list of upcoming auction properties listed online. 

Zillow.com. Look for the FSBO's on zillow. Lots of wholesalers post their deals that way so you can call these guys & get on their buyers list.

Another tip is to call the bandit signs around town & tell those guys you are an investor & ask to be put on their buyers list. 

@Eve Oliver using a vacancy rate of 8% is a safe bet.  That equates to 1 month vacancy for a year's lease.  If your rent is priced correctly and you are marketing the property well, you shouldn't have problems in these areas.