All Forum Posts by: Kaushal Patel

I'm looking to invest in out of state property and would like to run the numbers with experts. I'm trying to find the balance between risk and reward. CoC return is not that high and Rent is about 0.9%, closer to 1% rule but on on lower side.

About the property: It is a duplex, Newly build so assuming no major capex expenses in next 10 years. Also expecting monthly expenses to be much lower. Current calculator exclude lease renewal fees of 70% of first month rent by property management.  My current calculator assumes 7% vacancy rate and 5% capex. It also has 8% mgmt expense. Given I'm looking for buy and hold for over 10 years would you recommend this deal as good deal.

If I assume conservative 1% appreciation and 2% rent increase, I get around overall 9.5% return over 10 years.  This may be feasible to achieve with S&P over that period.

FYI. It is a large scale duplex project by developer with around 40 duplexes in community.  

Location : (OKC investor please comment about area if you are familiar with this)

Thanks for the feedback everyone. I called most of suggested agents/insurance companies and Shelter came out ahead in both better coverage and price.  As they are not well known, my only hesitance would be in case If I need to use them for any reason. 

Is anyone using Shelter Insurance for rental properties in Oklahoma City area ? I'm seeing mixed reviews on the web so want to get input from fellow investors about good or bad experience they may have had with the company.

Insurance quote difference is 30% between shelter and other known companies like state farm/liberty mutual. I want to make sure paying less does not end up in lower grade service, in case of need.

Is anyone using Shelter Insurance for rental properties in Oklahoma City area ? I'm seeing mixed reviews on the web so want to get input from fellow investors about good or bad experience they may have had with the company. 

Insurance quote difference is 30% between shelter and other known companies like state farm/liberty mutual. I want to make sure paying less does not end up in lower grade service, in case of need.

@Whitney Hutten, Who did you end up insuring your property with ? I'm in similar boat and getting higher quote's for the rental property in Oklahoma. 

We are in contract for investment property in OKC area. Looking for recommendation for insurance Agent in the area.

-Kaushal.

@Zach Sikes, it is by Todd Cooper. Will check with builder

We are in contract for new build in OKC area. We are working with wells-fargo for our financing and would like to explore options for Title services expense from Wells-fargo vs. other third-parties. If anyone have good title service recommendation in OKC area please let us now. 

Here are current charges for title services from WFC.  Is this standard rate ?

Title All Endorsements - 140

Title closing/Escrow 700

Title Lender policy - 633

Title Survey - 400

Title Courier - 100

How is the midwest city growth outlook ? Would you recommend investing in Youkon vs Midwest city if cash flow is bit lower in Youkon and price you pay is 20-30K more ? Both properties are new construction, ready to rent.

How is the Midwest City, OK for investment ? Given Airforce based nearby, assuming it is a good place for rental property.