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All Forum Posts by: Kiera Underwood

Kiera Underwood has started 2 posts and replied 916 times.

Post: Advice on getting started...

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599
Quote from @Jason Ruello:
Quote from @Kiera Underwood:

@Jason Ruello I work with a PM team that you can pay ~$6500 - $8500 and they do all the design work, ordering, set up and approval with the city. You also pay for the furnishing as they order. This is in the Oklahoma City market. Are you going to stay focused in NY? 

Since I'm as new as they come, I may start local and then branch out down the road as I learn. I appreciate you replying to my post, I'm just trying to get a feel for this. I honestly don't even know what questions to ask,rn. It feels so overwhelming, but I'm determined to learn... I have to.

@Jason Ruello totally understand! I work with a lot of newer investors. If only to develop your list of questions and your lingo I'm happy to help. We could get on a call and I'll overview how the new to the game call typically goes. That way you've got somewhere to start as far as questions to ask locally! Or of course feel free to shoot over questions as they come up. Excited for you! 

Post: Advice on getting started...

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Jason Ruello I work with a PM team that you can pay ~$6500 - $8500 and they do all the design work, ordering, set up and approval with the city. You also pay for the furnishing as they order. This is in the Oklahoma City market. Are you going to stay focused in NY? 

Post: Advice on getting started...

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Jason Ruello I work with a PM team that you can pay ~$6500 - $8500 and they do all the design work, ordering, set up and approval with the city. You also pay for the furnishing as they order. This is in the Oklahoma City market. Are you going to stay focused in NY? 

Post: Operating Airbnbs without EVER seeing the house

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Dan Thomas if it's helpful I see people netting $150-$350 per month in my market after all expenses and debt service at 20% down and ~7.625% interest rates. Not bad on properties in great areas and ideal condition! It's a shift from what we used to see and it's lower cash on cash, but it is an option to cash flow when positioning as a long term rental here isn't providing that right now. This is on $150,000 - $230,000 properties. 

Post: Ready To Execute First Rental Property

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Karen Mizrahi so excited for you both! Are you local to Ohio or just chose that market after comparing similar markets? 

Post: Operating Airbnbs without EVER seeing the house

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

The PM team I work with allows clients to never go to the property. Most of the owners that I work with are out of state and have never even been to Oklahoma! I couldn't imagine the owners I work with having as much success with out the boots on the ground team. There's so much attention to detail beyond cleaning that contributes to the ideal "feel" and reaction to each property. After each unit is cleaned and before check-in a member of the PM team I work with goes over and does a ~30 point checklist to make sure all the i's are dotted and t's are crossed. I could see a world where this could be automated on paper, but like some commenters mentioned before it feels like the real person problem solving goes notably far in terms of bang for your buck.

Post: Interested in Out-of-State Investing in Oklahoma City

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Andrés Aguilar I totally understand. I work in real estate every day and I invest in OKC as well. Even though I'm local to OKC I don't attempt to manage my own properties, especially STR. Luckily I am connected with a great STR property management team that takes care of every detail. They did the design work, ordering, set up, approval with the city and manage the day to day operations with guests and cleaning etc. It's felt as hands off as an LTR! There was more upfront cost, but my property is kept in pristine condition and constantly has eyes on it. My turnover costs with LTR eat me alive, so I'd rather spend a bit upfront and just keep it nice. My cash flow can be saved for major mechanicals instead of 10k make readies every couple of years.

Post: Newbie with high income - Invest local or long distance?

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Sean Haran if you end up exploring other markets I can overview Oklahoma City for you. Some key things to consider are that purchase price is super approachable ($150-$250k) and even with today's interest rates you can cash flow with the right positioning. With financing you could spend 80k and cash flow $100-$200 per month on average and with $200k cash you could cash flow ~$1000/month. Most of the people I've introduced to this market are in CA and looking for something that makes more sense. Taxes are low here and laws are landlord friendly. Feel free to ask questions here or I can get on a call. Whatever is most helpful! Good luck! 

Post: Interested in Out-of-State Investing in Oklahoma City

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Andrés Aguilar I think you've got your answer below as far as tornados. If you want to prevent insurance claims I'd just look for a brick exterior and make sure your roof is insurable before close! 

You can look to a bit higher risk areas for more appreciation potential while coming closer to cash flowing today. Are you set on investing with the long term strategy or are you also open to short term? 

Post: Out of state(or out of local) Investment Property

Kiera UnderwoodPosted
  • Specialist
  • Oklahoma City, OK
  • Posts 951
  • Votes 599

@Jae Bok Lee your name is so familiar have we connected elsewhere? I'm also happy to give you an overview of what it looks like to invest in Oklahoma City. Even here with current interest rates it's been tough to cash flow on long term rentals this year, so I and so many investors I work with are pivoting to short term. Is that something you have any interest in? If you'd like to see what it the process and returns look like just let me know. Good luck in your market exploration!