All Forum Posts by: Landon Whitt

Im working on a system to help BRRR buyers in oklahoma city. The hardest part is spending 12 hours searching for a BRRRR and brokering the transaction on a 40-50k house and making peanuts. Most realtors in OKC hate BRR clients. I dont blame them. Its a tough task. but i get it, i like BRRR myself and I have been profitable at it. I have helped several clients this year do BRRR by using a 360 handheld camera and sending the video via you tube. This allows for you to quickly estimate repairs and share the video with contractors to quickly estimate if putting an offer is worth it. Most BRRR investors kill the deal because they drag their feet placing the initial offer because they want to do every calculator and rent website and bla bla bla and then when they are ready to announce their offer the property is already pending. Get good at ball parking estimates, place an offer if they accept then use your inspection period to perform the in depth report. Don't waste so much time upfront until you have secured the option to purchase the property. Make since?????

@Jason Toledo well done, hang in there each step is a learning process the first one can be the toughest

@Matthew Perry After 3 years of seeing if my company could make a profit we are starting to turn a new page in profits. For 2019 im looking to become more focused on numbers and identifying what works and what does not and have clear records of that. I feel like future investors would be interested in investing in the parts we suceed in and documenting our performance would help “2019, the year I went legit. “

@Jeffrey Smith thanks Jeff, and feedback is always helpful. I try to think what data I would want to have if i was in your shoes. 

@Deborah Burian you might try searching google for city with highest percentage of vacation and investment homes, the article was free when I read it. Another stellar site that might be useful to you and is totally free for local RE info is okctalk.com  they have an interactive development map showing new projects going on around town. Hope that helps! 

@Bill Larsen , that means alot. Honestly I got hooked on watching GaryVee on youtube and realized we didn't even have a podcast in town so it was born out of that just recently. Any feedback really helps so please leave comments. I owned a bar with an apartment in the Dominican Republic when I went to college and It was so frustrating to be so far away and have to rely on local boots on the ground to relay data (in fact the manager spent all my cash for the project on a gambling Christmas cocaine party, ended up in jail and my boat got stolen by some Haitians trying to migrate to Florida but thats a whole different story). I try to use as much technology as possible to get 360 videos loaded to you tube for the property in question and consistent income reports. The challenge is maintaining quality while the sellers are always changing. Some of these properties are sold by realtors that have never rented a property in their life and they have no clue about reporting numbers so most of the deals go un detected by investors because they just don't have any data. 60% of my best deals are just taking the time to source the rental incomes and p&l statements/ photos ect.. where otherwise the deal would have never happened because no one had a clue about the ROI.

Thanks for the love Alex. Oklahoma city just topped the nation as the highest percentage of vacation and investment homes as of JUNE 12TH 2018 (%15.4). We just beat Miami (%14.5),  do you believe that? You can read the full article on inman. Its been a fast and furious last 2 years and we have seen explosive growths in rental prices coming out of it. Solid homes for rock bottom prices in a relatively linear market that provides stable long term cashflow. Thats what should come to your mind when you think OKC. However the gravy train wont last much longer, you have about 2 more years to get in on this before there is just too much competition to hit the numbers we love about our town. With higher investment demand comes higher prices. We all know rents lag behind appreciation and OKC is no different.  Something that could tip the scales was last months announcement; Amazons newest project to provide a OKC based "fulfillment center" to service the central united states has turned alot of heads. Companies like Costco and Paycom have already made expansion plans with many tech and service companies following pursuit. The low cost of living, property taxes and cheap labor are appetizing.  We are seeing a real shift happening here. OKC has a real chance at becoming the next Dallas Texas. Get in now while the prices are still low.