All Forum Posts by: Kiera Underwood

@Cole O'Dell How did this turn out? 

@David Marino just sent you a colleague request!

@Michael Matesky I'm happy to guide you along the steps that investors use when purchasing in my market. Most investors that I work with live in California but invest here in Oklahoma City. I'm happy to overview what that looks like and then you may be able to transfer those skills to your home market if you're set on investing there? 

@David Marino I'd work to develop comfort with running numbers in the area you're in. You can shift numbers that vary per market when you change markets. You'll learn what numbers change per market and be able to work in your spreadsheet, run rental comparables and become a little more self reliant as far as your evaluations. I specialize in the Oklahoma City market which might not be on your radar at all, but if you're not sure how to do any of what I outlined above I'm happy to show you how to do it for the OKC market. Then you can take that base skill set and apply it to your market or where you move to! Just let me know if I can help. Good luck! 

@Colton King this is great advice! This step is what shifted me from "considering investing" to being a part of hundreds of transactions a year. I work with a full-service team that does a lot of hand-holding for people that are just getting started. If you want an overview of what getting started in Oklahoma City looks like I'm happy to do that for you! I think it's helpful to compare markets and providers to get a good feel for what's out there. Because you're just building credit, starting in a lower-cost market may be important to starting sooner.

@Renee Ren Curious if you're committed to staying in a market where regulation is so tough or if you're open to areas that might not restrict you as much? From a management standpoint I always default to professionals. I am competent, but I don't have the legal knowledge to feel sufficiently protected. That's where I lean on a team that has obviously done their legal homework. Especially I California I would be over protecting myself. I opt to position for short term in OKC where it's VERY landlord friendly and STR returns are still insane. 2-3x the cash flow vs long term rentals. There's a duplex I'm working on now that's newer construction A class for 420k. With one unit str and one unit LTR it'll cash flow $2700 a month if I pay cash and $700 a month if I'm paying a 7% interest rate. All of that said this is a low and slow appreciating market, so just a totally different game vs CA.

@Michael Figueroa I've helped a couple hundred investors get started in the Oklahoma City area. I'm happy to overview the market for you, give pros/cons and stats that you can use when comparing different markets. I'm also happy to connect you with some investors from your area that made moves here so you can get some feedback from their POV. I can also connect you with a steady drip of properties that are available and/or recently sold so that you can keep comparing what our market is doing vs others that you're considering. If any of that sounds helpful feel free to reach out! 

 Just ask your lender what the requirements are! 

@Zachary Taylor if it's tenant occupied you'll have to put 25% down. However if one unit is vacant and you could utilize it as your primary residence, you could use an owner occupant loan of only 3-5% down depending on your situation. I understand that you have a primary residence, but if you could rent that for just a year to be able to move into the new duplex to get it to qualify, then you're set! Just make your primary an STR for the time being so you can leave all of your stuff and not do too crazy of a temp move.

@Logan French where are you from in Arkansas? I have a friend that hasn't listed his income producing property in Bentonville AR and am happy to connect you with him for a FSBO situation. It's positioned as an LTR now but tenants move out in a couple of months. At the 300k appraised value it won't cash flow as an LTR but Bentonville is PRIME for STR. I've ran the numbers and it absolutely works! I'd honestly be purchasing if I hadn't just bought two in Oklahoma City. I'm most familiar with the OKC market and own LTR and STR there if you're curious about what those numbers look like. I've seen hundreds of people over the last couple of years invest OOS in OKC, and most of them were purchasing their first or second rental. Happy to overview what that looks like for you so that you have it in your back pocket as you compare markets! Good luck getting started!