All Forum Posts by: Michael Bennett

@Hiram Munoz any particular styles of homes that you are looking for or any particular areas of town. I may can help

Hello @Hiram Munoz, do you live in the Tulsa area?

@Michael Slockers it was definitely refreshing reading your response. One of my main reasons for investing in the North side of town is because I want to make a difference and improve the communities in which I grew up. I belive that providing nice and affordable homes is definitely a start.

@Lisa Williams thank you Lisa! I didn’t even think about checking the OCDN and that makes perfect sense! I’m learning the key is to find the best tenant and to take all precautions into consideration.

@Brady Lamprecht hello Brady! I would love to link and talk a little more. We could definitely be beneficial to one another! I will inbox you

@Joseph Back hello Joseph! Thank you for the input! There my research I have learned about implementing a quarterly or semi-annual inspection on the properties and I think that is a wonderful idea. My biggest fear was the trashing of the property so I’m going to make sure i have a few implementations in place to make sure the property is being kept up to par.

@James Galla thank you!

@Marcia Maynard thank you so much for your insight! You’ve provided a lot of helpful information which is exactly what I was looking for! I will take this information and run with it! Thanks again!

I am a new investor in the Tulsa, Oklahoma Market and I have been studying real estate for about 6 months now. My first investment was a partnership on a flip project. We are about two weeks away from completing the renovations and listing the property for sale. Currently I am in the midst of acquiring two rental properties in a Class D+/C- neighborhood. My mentor is assisting me with the acquisitions. He has been in real estate for over 12 years and primarily invests in this area of the town. He has over 50 rental properties and has extensive knowledge within this particular market. He is prepping the properties so that they are turn-key for me and he will even assist me in finding my first renters. I am comfortable with the neighborhood because I grew up in this area of town so I am familiar with the neighborhood and I know what I am getting myself into. He will be selling the properties to me for about 35k each and they will rent for anywhere from $600 to $800 a month on a 12-15 year note with the bank. With his knowledge and history in this market I feel that my mentor is steering me on the right direction and not setting me up for failure. But he is benefiting from the deal so he could be out for himself in the long run. I’ve been taught not too much trust in investors these days unless you really know them. On the flip side of that I don’t believe in failure and I refuse to fail but at the end of the day I don’t know what I don’t know. As a first time rental owner I was wondering is there any advice for me for investing in this type of neighborhood and dealing with these types of tenants. I know i could invest in a Class B neighborhood but I would have to purchase the house from another investor and I would feel like I’m turning my back on my mentor. He is the one that connected me with his banker who approved me for the loans plus everything else he is doing for me. I’m grateful for the opportunity that he is giving me and I really don’t want to go against the grain with this opportunity. Any advice will help! Thank you!

I’m 33 and I got started around my 33rd birthday. Within the passed few months I have partnered on a flip investment and I am in the midst of obtaining two rental properties. I’m looking forward to what next year brings!