All Forum Posts by: Kyle Critchnau

@Account Closed we have a verbal offer but until it's solidified, we're still accepting offers. Give me a call at (918) 212-4861 or send me a PM and we can discuss further. 

UPDATE: 

Unit mix is as follows: 

1 bedroom: 36 units (~$475/mo)*

2 bedroom: 114 unit (~$650/mo)*

3 bedroom: 10 units (~$800/mo)*

*Source: Rentometer.com

Projected financials based on above numbers:

Gross income: $1,190,400

Allowance for vacancy: $59,520 (5%)

Allowance for expenses: $595,200 (50%)

Projected net income: $538,680

Projected ARV (assuming 12% cap rate): $4,489,000

160-unit complex in Oklahoma City, conveniently located less than 2 miles from the outlet malls and near major highways. Currently vacant, needs work, make an offer!

Highland Park Apartments

Address is 1681 N. Donald Ave., Oklahoma City, OK

Link to Pics:
https://drive.google.com/open?id=0B2S16hbRgHJXZks5alctRlBFM2s

Just sent you an email. I'm an active wholesaler in the Tulsa area. 

I'll be there!

I'm in as well. 

How far north is it? Most of my buyers won't go north of Apache, a few won't go north of Pine. There are bad parts and there are decent parts, it all depends on your tenant and the rest of the neighborhood. If you want to PM me the address I can at least tell you if I've done any deals in the vicinity recently, or even drive by if your brother hasn't already. 

I'd be interested to see (like you and I talked the other day, Bob) who the current occupant thinks is the landlord. It sounds to me like they're not your typical squatters, in that they've got utilities on and are taking care of the house. My only experience with squatters has been in my parents' neighborhood, and that guy didn't get the utilities turned on or anything. I agree, get with your attorney and see if you can get any sort of recourse against them, but I would think you'd be even better served going after whoever the false landlord is.

I haven't in the past, mainly because most of my deals have been probate deals where the seller hasn't actually lived in the house. That being said, I may start asking for this form to be filled out since it is required by state law. 

I'm interested as well, I have some experience in CRE (mainly from the deal analysis side) but would love to learn more and get my feet wet.