All Forum Posts by: Joel Kadlec

I use Jeff Seal with Revolver Finance. You can probably expect 10% and up to 70% of ARV. Feel free to message me if you want more detail.

Hey guys,

Welcome to BP. You're in the right place. I'm a local investor in Tulsa. Feel free to message me if you want to connect or have any questions. 

I agree with above posts on educating yourself and learning the different strategies of investing.

Start networking and creating relationships with like minded individuals in your local market. The Tulsa REIA is a good place to start.

I can't speak to all of these properties, but the houses in OK look like they will need a good deal of work. I would proceed with caution on the half duplex in Tulsa. You can probably find better deals further North and in a little better condition. The other half of the duplex looks like it could pose a challenge to you as well.

Still works

Chris and Megan,

Thank you for the responses that was helpful. That gives me enough to know where to look now!

Hey BP,

Right now I am looking at a deal to potentially buy a bundle of condos on a commercial loan. The Hoas currently cover all exterior roof, siding, etc. What should I except as far as getting insurance for the interior if any? 

Thanks for your help,

Joel

Glad to see there is a BP meetup popping up here. I will be there!

Hey all,

I wanted to reach out and see if there is anyone in the Tulsa area who might be interested in meeting and discussing flips? I currently own 8 apartments which I will be 1031 exchanging and upgrading on the buy and hold side. However, I have been studying flipping recently and would love to get a flip or two under my belt this next year. Not sure if anyone with successful experience would be looking to partner up on a few deals, but I thought I would ask....

Thanks!

Joel

I read in the posts that this is in out of state deal. Personally, if this is your first deal I would steer clear of anything out of state. You said your family lives there, but if you're not physically able to be there and oversea operations that could be a "make or break deal." Also being your first deal and going from 0-20 units is a major undertaking with the addition of unconventional financing. I myself am still a newbie for the most part so I'm just offering my opinion is all. 

In December I bought 8 units (2 quads) and it has taken a lot of sweat equity to get these performing well with good cashflow. I am looking to get 12 more units this month 3 quads in one deal, but knowing what I know now I would never even consider an out of state or even a lengthy drive deal with multifamily. 240k for 10 units means the property probably has been mis-managed and needs some sweat equity and a few repairs.

Whatever route you decide to go I hope you are successful and keep us updated!

Best,

Joel