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All Forum Posts by: John Kunick

John Kunick has started 4 posts and replied 188 times.

Post: Newb from Tulsa, Oklahoma

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

Best of luck!

Post: In Search of First Deal

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

BTW, most of my SFH's I've bought for far less than $120k. Some I've had to do some rehab (less than $5k), but I put a clause in the purchase contract that I can market two weeks before closing. So, most of the time, I've had the house rented before we've even closed. In the last five houses, I literally had the house rented before I even purchased the house as there is such a demand for quality rentals that I found the house, then had the long list of prospective tenants tell me they would rent the house if I put an offer on it. It's almost too easy!

Post: In Search of First Deal

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

Tyler, not sure what you are looking at so it is difficult for me to opine. But, I can buy a SFH in Tulsa for $110-120k and put 20-25% down and still make 15% ROI just based on cash flow. That doesn't count appreciation nor build up of equity - which would put the total ROI north of 20%.. So, for example, I buy a $120k house and put 20% down plus closing costs. That is roughly $26k (closing costs included). If I rent that house for $1200 per month that is $14,400 per annum income. Now, we can do all kinds of #'s, but I get at least 15-20% positive cash flow. And, I've done this many, many times for far less than $120k.. So, again, not sure what you are looking at nor what you are considering, but all I know is I can do this all day long.

Post: In Search of First Deal

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

Tyler and Jonathan, I am a buy and hold investor in Tulsa. I own/manage 21 SFH and all of my projections when I buy are basically cash-flow intensive without considering appreciation. My thinking is if I can show that it makes sense purely from a CF perspective (I average 15.8% ROI), then appreciation and equity accumulation are just "frosting on the cake". Historically, my properties have been in middle class neighborhoods with high school district ranks. But, recently bought a duplex in a lower class neighborhood just to do what Jonathan is talking about. So far so good. I am now looking at a triplex(s). Feel free to ping me back and we can talk more.

Post: Newbie Taking Action Out of State - Buy & Hold

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

Tulsa is also very good market for turnkey

Post: Should I start out with SFRs or Multis

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

In South Tulsa, I can keep SFH rented almost 100% of time at premium rent. I have tenants coming out of MFH that can rent from us for almost the same amount as MF, but we provide them with SFH at not much more. They are so much more willing to rent from us and keep the properties as their own (less turnover and longer leases = higher ROI). So, what is your objective? Do you want more turnover? Invest in MFH. Do you want higher ROI? Invest in SFH. A lot of it is how you manage it.

Post: Should I start out with SFRs or Multis

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

Totally disagree with MFH vs. SFH based on capital you have to invest. I can make mutltiple SFH w/ 20-25% down and turn that into 15-20% ROI.. There are definite pros/cons.. We have far less hassles w/ SFH vs. MFH..

Post: Advice for new RE investor

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

Bob and Pascal, I'm a RE investor in Tulsa. Pascal is correct, this market allows a lot of good opportunities to not only get in with smaller amounts vs. coasts, but also to make superb ROI and cash flow. I've helped several investors, that have stuff in CA, get properties in Tulsa. They can't believe how much better their ROI and cash flow is - and how little relatively speaking they have to invest to get in the game.

There are definitely some keys to success as what works here is different than what works in other areas (based on what other RE investors have told me).

Best of luck.

Post: What's the best place to start

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

I'm an investor in Tulsa. Great place and I've helped several California-based investors get started here. The ROI and cash flow possibilities are superb. I've heard other areas are good too (like Oklahoma City, Kansas City, Indianapolis, Cleveland, etc) but I just don't have any experience in those markets. Best of luck!

Post: WHO ARE YOU? What do you do besides real estate?

John KunickPosted
  • Investor
  • Broken Arrow, OK
  • Posts 207
  • Votes 311

Medical Device sales manager in addition to doing my own real estate and helping others with theirs.  Love RE investing and managing properties.