All Forum Posts by: Mark Spidell

Working on my first Tulsa deal and will most likely hold as a rental.  Any recommendations on portfolio lenders that will consider small deals?  Certainly looking to build a long term relationship with the bank.

I have had good luck with:

Jeff Porter

Escrow Officer/Attorney

Republic Title of Texas, Inc.

Preston Frankford

17950 Preston Road, Suite 70, LB26

Dallas, Texas 75252

I will be in the Dallas area towards the latter part of next week 11/12 and 11/13 looking at some new opportunities and checking on my current holdings.  Any BP members with any VRBO or air BNB offerings I can give some business to?

I will be in the Tulsa area early next week exploring the area and learning more about local investment opportunities.  Would love to give a BP member some business if they have any VRBO or air BNB offers.

I like this because it is a win for some many different groups:

• Tenants wins by getting a better landlord and lower rent
• Seller wins by getting their price
• Prosper investors win by enjoying a great loan / borrower
• Neighbors / community wins by have a tenant in the house that can better take care of it with a better landlord and lower rent
• Dawn wins on many levels.  Nice!

Do realize that smaller hotels / motels are much less liquid than those that are 90 to 140 rooms.  Sounds like there is some hustle upside, so really get a good feel for if you think it will be worth the time. Unfortunately overhead and labor can be more burdensome with smaller properties.  Good luck!

You might explore working the owner and asking for the contact info of the people they are working with at the loan servicer.  Often there are teams of people working on short sales.  If you can help them understand the local market and you strike a deal that eases some of the pain points you might have some luck.  Just having your broker submitting offers will likely not get you the result you desire. 

Nice!  You have the right attitude. 

Sure you might have paid a hair too much.  Sometimes it is the right thing to do if you are having a hard time getting started.  Sounds like a fringe investment property in an improving neighborhood.  Stay focused and patient on the next deal and you will be glad you had the learning opportunity.   

Welcome!  I also invest in Grand Junction.  Happy to share information or consider opportunities.

Welcome to BP!  I am a buy and hold investor with properties in Desoto, Lancaster, and Glenn Heights.  Please add me to your list!