All Forum Posts by: Karl Mengers

Main Edge Properties handles my apartments as well as all of my single family homes. Their service is stellar.

Main Edge Properties can help you. Sandy or Mary. SFR, multi family, & Sec 8.

I have properties managed by both ladies & they rock. 

We use rentometer.com on rents. 

I would be interested in visiting with you about your project. 

USE EXTREME CAUTION! Updating codes can literally kill your cash. I purchased an 8-plex in Yukon in February. I thought it was a great deal. I have now spent over $200K in bringing it up to code and am not done yet. It seems the code wall just keeps getting higher and the line tends to be moving constantly. I could have built these new cheaper than what I have in them now. 

These units you are looking at?? There is a reason they have been vacant so long. Seems nobody wants to touch them.

Just my 2 cents worth.

My property manager has done a fair amount of these in Oklahoma and Canadian counties. I can connect you with her if you'd like. She does an awesome job at my property management division. She could give you the run down on the process. We next to never have to evict our tenants. Mostly when I buy multiple properties at once, somebody tries to pull stuff on us.

I sold my holdings in Lawton. The margins are good and the rental market is pretty good. My problem was I could never find a property manager that served folks as I do in my OKC market. Also, service providers work at their own pace. They were a constant source of frustration for myself and my tenants. It simply became "Not worth it".

As I am an investor myself, I applaud your concern for brokerages. I myself started at Keller Williams and found out very quickly that they frowned upon agent investors. I had an Edmond office but closed it this January. My main office is in Mustang and we offer investment classes and partnering. 

Just check around in Edmond to see if you can find somebody that you are comfortable with. If you have any brokerage or investment questions, feel free to contact me. I love this business. 

Everybody is spot for on with this one. In Oklahoma, the judge would not be nice if this made it to court and the landlord would spend far more money while losing the case.

I agree with Douglas. When they acquired the property, they acquired the lease and all that goes with it.

Take the high road, return the deposit. 

They are not seeing you as an established investor. How can you make a financial decision without the proper information.

Easy, just go ahead and make an offer contingent on review of the financials. Any discrepancies, then you can walk or renegotiate.