All Forum Posts by: Levi Ballard

We have seen an increase in applicants from out of state moving here to work in the marijuana industry, and we have one local tenant who mentioned that he has brought people in from Colorado and Canada and was currently renting 6 houses for them in NW OKC and Edmond. 

I want to talk about awesome eviction stories. @Deborah Burian are you attending? I bet you have some!

My wife and I are also FIRE-movement subscribers. One thing we did was choose to go with 15 year mortgages over 30, and still pay down extra if able. While not necessarily the belief of most on here, we wanted to be debt free in our retirement, so the faster we could get there, the better.

We balance between index funds and real estate, with some other business interests thrown in for fun. If I find a good real estate deal, I will sell other interests or use cash to fund that deal. But I still consider it 'savings'.

Hey @Cassi Justiz. I think you've already gotten great advice here, but for another Oklahoma perspective. I don't see much difference in demand for houses turning over in June or July. There is the fourth of July holiday to mess with, but if you are showing in the month of June, that shouldn't be too much of an issue. I agree with the increased rent for June. I usually do at least a 20% bump (and never hear complaints about it). 

Looking forward to the lunch today! Such an interesting time in OKC right now - I'm interested to hear how others are doing with deals.

I second @Cassi Justiz's recommendation of Major. I just started using them and they have been good to work with.

Depending on your level of units, I find a fresh coat of paint goes a long way. If you shop and ask around, you should be able to find a painter that can do a walls, ceilings and trim for $1/sq ft (paint included), cheaper if the paint scheme is already the same. I agree with @Lynnette E., paint the paneling - big improvement. 

Updating floors can be helpful depending on what you have. Putting vinyl plank down is cheap and makes the unit really pop with a clean look.

I have also noticed updating the kitchen faucet to a high neck model makes a difference, as well as updating bath faucets to something other than builder standard. People seem to respond to that. You can find kitchen faucets for under $100 online, and bath faucets for under $30 at HD or Lowes.

@Rhett Tullis Sounds good. Lets grab lunch soon.

The biggest gripe I have with it is the tenant's ability to walk on a lease. Maybe I misunderstand, but I have always interpreted it as upon notice from the tenant, the landlord has to make a good faith and reasonable attempt to re-lease the property. Once re-leased, the former tenant is free to walk. I personally have been approached by several tenants asking for long term leases at my more desirable properties at a steep discount (10-20% off for a 4+year lease). Sounds great until you learn the above rule, and they can walk. I rarely go 15 days without getting a property leased, so I just don't like the lack of penalty. 

I'm unclear how apartments charge break fees as I don't see that ability in the landlord-tenant act, but maybe the lack of the rule means its allowed? If so, I'd love to know so I can rework that into my current lease. Have one breaking their lease next month. 

@Account Closed I struggle with the same. I have been using a new company (to me) the last two times, but they have been inconsistent on pricing for the size and condition of the home. I would love a solid recommendation.