All Forum Posts by: Kiera Underwood

@Patrick Froehlich Most investors I talk to are buying their first rentals in their 40's. I have seen a recent trend of investors in their early 20's but they are still the outliers! 

@Justin Seaverns it's when you buy a property with the intent to live in it for a year. If you do that the bank will allow you to only bring 3.5-5% down depending on the program. If you intentionally buy properties that will make money for you if/when you rent them out then you can move out as soon as the year is up and start your strategy! You can have up to 10 conventional loans at once, so you could do this 10 times and obtain 10 properties with only 5% down. 

@Shah Popal happy to talk about OKC anytime! 

@Bryan Taggart I totally understand being adverse to sharing your space. My version of house hacking involves specifically buying a house that you plan to move out of in a year. So you buy based on how the property will perform when you rent it out. In a year you repeat the process. This allows you to only put 5% down instead of 20%. 

I would consider shifting your plan to moving out next year and renting out what you have. It's unfortunate this wasn't the factor consider when buying the house but you can make this one work and do better with analyzing the next one.

It's a big jump and a lot of moving but if it's the difference of you starting your portfolio in a year or in 10 years it might be worth having some serious conversations!

@Bryan Taggart have you thought of starting with a house hack? 

@Sean Rice I would add OKC to your list. It's popular with OOS investors but doesn't feel flooded like other cash flowing markets where you have to get on a waiting list or just take what you can get. You can typically lock down 60-80k properties, utilize conventional lending and cash flow from day one! In C class areas you can easily snag those at 8% cap rates as long as you're working with a good provider. 

Honestly in any market, your provider is going to be key. Research them, read reviews and talk to people that they've worked with before. There are deals everywhere, but your provider can make or break you! 

Happy to answer any OOS investing or OKC specific questions. Good luck to you!! 

It's tough to pull it off here. The deals are scarce and the numbers are tight. It's easy if you're working with the right people to lock down 8% cap rates in C class areas. In some of those opportunities you can do a light rehab and push cap rates/cash flow significantly, but it won't be worth a refinance. Normally here if you're out of state and looking to BRRRR you're going to be be absorbing both sets of closing costs and leaving 10% of the ARV in the deal instead of 20%. So, you're getting to leave a bit less in the deal, but if you have any hiccups that could quickly dissolve.

@Percy Matsunaga happy to tell you anything you need to know about OKC! Let's connect. 

@Kyee Bo Sounds good. Let's connect! 

@Luis Torrico you might add OKC to the list of places to research. It's approachable like Cleveland but has an increasing population and historical stability through downturns. Something to think about! Also, I'm Oklahoma specific but I have a lot of experience with OOS investing so feel free to shoot over questions even if OKC isn't on the radar. Happy to help. Good luck!