All Forum Posts by: Jeff S.

Andy Young, a long-term renter is an asset. And if you are okay with the current level of positive cash-flow then why take on the risk of an unproved renter filling their unit? I think the cost/benefit is all relative to your plans for the property. If you plan to hold on to the duplex indefinitely then this renter is a boon. If you need the additional cashflow or are improving and re-selling in a short time period, maybe it's worth increasing the rent?

Josh James, Wow! that seems pretty crazy that they gave you a minimum offer to consider and then didn't consider it. Did you show them the work needed on this to make it even viable for you? Pics go a long way in negotiating too. No offense meant here but I still think the profit is slim @ $91k. Did you stick a timeline on offer acceptance?

Thanks for keeping us posted, and good luck!

Alton Phouvong, You need to answer a lot of basic questions first. Mainly, what is the potential profit margin? Do you know construction cost/sqft in the area?

http://www.biggerpockets.com/forums/44/topics/78967-thinking-about-starting-a-spec-house

Try searching the thread above as well as additional threads to get a start. Once you can get more specific it will be easier to help you.

Nicole Clemens, I understand your original post is concerned with selling to a third party and learning something new in the process. So I apologize in advance for going a little off tangent since I don't know what your goals as a real estate investor are.

But would these properties be something you would consider owning yourself? If the seller doesn't "need" the cash would he be open to seller-financing the properties to you? Are any of these properties currently producing a net profit? In some cases, no sense of urgency on the sellers part can lead to favorable financing terms.

Happy belated Birthday Brandon! Thanks for all you do on BP.

Welcome to BP Meggie G!

Richard Pretlow welcome to BP! Be sure to set-up some keyword alerts to notify you when topics like the one's you are interested in are discussed (ie. Oklahoma, wholesaling, foreclosure, etc.)

Seetha G -

I agree with Zach Sikes on Edmond being one of the nicest areas. To answer your questions: It is a great market for SFR and in most cases it would be easy to find good renters.

Although there are plenty of good deals in Edmond, I also agree with Luke Ward. Depending on your objectives as an investor another market could serve you better. There are great turn-key and value-add rental opportunities all over OKC and its surrounding cities.

Kennedy Williams - Welcome to BP! You have so much sage advice above I think you are good to go. I think that $3k would go a long way towards preparing and paying for the CPA exam. Best of luck and hope to see you on the forums!

Zach Sikes - Yes, it was subject to assuming the existing financing. It counted as a conventional loan.