All Forum Posts by: Krysty Underwood

Elite Real Estate Investment's first Durant, OK, property is now available for investors!  In partnership with 18002SellHomes out of OKC, we are making this first available to cash buyers at a STEEP discount from retail. 3/2.5 brick home, country living, 3 acres for under $50K. Features of this property include:

• 3 beds/2.5 baths
• 3 car, 400 sq ft covered carport
• 3 acre lot
• "Mother-in-Law" addition with den
• North end of Durant in the Silo school district
• over 1700 sq ft of living space
• Appraises at $89,000

Of course, being an investor special, this property does need some work. Retail cost of repairs are estimated at $20,000. However, the ARV is estimated at a minimum of $120,000, providing our buyer with some great equity and a cash return on investment of as much as 71%. Abstract and title work are up to date and ready to go, so you can close fast.

An entire investor packet is available by request and includes a rehab cost estimator, nearby recent comps, and a list of recommended contractors. Please PM me or email [email protected] or call (580) 740-9251. Showings are also available by appointment on Tuesday evening, Wednesday evening, and Sunday afternoon.

Whether you're a first-time investor or a seasoned pro, our properties will provide you with great opportunities to get your money to work for you!

Pics presented in a follow up post in a few minutes.

Welcome Yun! Glad to have you in the OK BP community.

Hi Nou, great to have you as an OK BP member! I'm in Durant myself. If you're new to investing, I suggest partnering up with a pro. If you're interested in flipping properties, I recommend 18002SellHomes. @TrevorShettron or @LeoKingston can give you more info. I've worked with them for a couple months now, and I'm learning so much. We've got our first deal under contract, and we're looking at getting a couple more wrapped up in the next couple weeks. I don't know if my little @ things worked, so look them up if they don't get tagged in the post. 

As far as locating properties, try calling your local bank for a foreclosure. That's how I got my first one. You can also call other investors in the area that are looking to sell off properties.

Yep, not sure what I did wrong. I have over 10 posts, and I thought it updated automatically. Hmm...any ideas anyone? Okay, now everyone has to respond! :)

Well, I'm not seeing my signature, so time to figure out what I did wrong...

Hi everyone,

Feel free to ignore this post! I just wanted to see my new signature line "in print", so to speak! Thanks, BP! I've had the Plus account for five minutes and already love it! :)

Great point, Bonnie, and I didn't necessarily mean that fall in and of itself is a great time for rentals, but that end of 2016/beginning of 2017 will see a downshift in the market. It's starting in California now, and I think it'll hit us a year or so later, just like everything else, whether it's economy shifts or fashion trends. When there's a downshift in the market, it takes longer to sell a house, but there's more renters because there's more foreclosures. Completely agreed with the whole Thanksgiving to Super Bowl timeframe. If you can get back out on the market just as people are getting their tax returns in late Feb/early March, that's a great time to sell. 

This is actually a question for a friend of mine wanting to get into investing. I'm trying to explain what little I know, and I'll be recommending she join BP asap to get the best advice from the real experts in our community! Here's her dilemma:

She wants to start flipping houses (although I also recommended she get into buy and holds too at some point), but she wants to save up money to invest after she pays off a consumer loan she had on old debts. She has 13 months left on it and is paying $400 a month. Should she pay it off and then start saving for a down payment on whatever her first property is, or should she refi the bad debt into a longer-term note through her bank and start saving now? She's very cash flow rich if she can learn to control her spending habits every month, as her and her husband are both well-paid professionals in our area. But she's stuck in that middle-class cycle. She could very quickly come up with several thousand for a down payment on a small flip or buy and hold, and her credit I believe is decent enough to get her a good loan on something. But which should she do first? Wait a year and pay off the debt, then save for another six months? Or refi now and save for six-seven months and start her first investment?

Im by no means an expert, but based on what I've read from other BP gurus,  I think now is a great time for flips in OK, but buy and holds will be better in the fall and into 2017. But agreed @gabegordon that it's always a good time to buy, as long as you buy under value.