All Forum Posts by: Nathan Allen

I love the cash flow concept. That's really what it's all about at the end of the day! Honestly you could do a kitchen & windows in a few weeks and be ready to move on with life but to each their own 🤜💥🤛 Rock on!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $147,000

High end apartments in the Plaza District 💜

What made you interested in investing in this type of deal?

Cash flow.

How did you find this deal and how did you negotiate it?

Hunting in the area and driving for dollars.

How did you finance this deal?

FHA

How did you add value to the deal?

Complete gut and remodel.

What was the outcome?

Being the first to market in The Plaza District with luxury apartments.

Lessons learned? Challenges?

Buy right and stress test your deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Nope.

Sweeeeeeet! Sounds stellar. Keep up the good work!!! Might be a good time to sell if you want to scale up and go into the multifamily game once the OKC market corrects 💸💪

I would recommend putting your property into an LLC not just as a form of corporate protection but also it would allow you to to work with small banks or credit unions to pull equity out. I would recommend reaching out to these local credit unions as they have been very helpful working with me on a few projects.

WEOKIE Credit Union

Oklahoma Employee's Credit Union

Greeeeat plan @bryan! 10 years is totally doable man. I would recommend to start with your freedom number and use this figure to reverse engineer how to get there from where you're currently at. Do you need $4,200 a month to live in relative comfort? $7,900 a month? 37,000 a month?! Once you have this number I would recommend to put a date on the calendar for when you will be earning this amount of income from your portfolio. It makes the dream real. It makes this goal tangible because now it is both specific and measurable.

Many times new investors think they need $200,000 a month to be able to comfortably quit their job... That simply isn't the case 🙈 Honestly this amount of money would allow you to do many things but just 5% of this monthly income would be life changing. It would change your family tree for generations 😏

For me this method is exactly what I used almost 10 years ago to gain my financial independence. Now I spend my days traveling the world on a motorcycle exploring new cultures and countries via my passive income generated from my apartments located in Oklahoma City. This was my dream a decade ago and today it is my reality 💕 I'm actually writing this message from beautiful Lviv, Ukraine right now 🏍️💨🍻

The market is incredibly hot right now as you probably know. I would recommend to stress test whatever property's you come across veeery well. I would suggest to run your numbers at a 75% vacancy rate and over estimate your budgets for insurance, taxes, repairs by at least 15% minimum. There are too many people simply paying too much for these properties in OKC. Their thought is probably to be able to park some capital and generate any kind of return which I feel is a losing strategy. Invest for the long term and take your time about it. I have read the book "The Tortoise And The Hare" probably 20 times... The turtle wins every time! 

Enjoy your journey and please let me know if there is ever anything I can do to help you reach your goals. Both financially or otherwise 🤜💥🤛

Sounds sounds like a good buy with some nice returns. Honestly in that price range you're going to run into a lot of issues with your clientele.

With that being said you'll also have more cash flow per door to come along with those headaches so take solace in that hahaha

Congratulations on the closing and here's to the next one 🍻🤘

Hey man great to hear! Is this by chance Britton Crossings? Congrats!!!!

I I live in Oklahoma City and have been on the hunt for a hundred unit apartment building for the last 2 years but the market has been so over inflated from out-of-state investors it does not make sense to buy anything here in my humble opinion. Tulsa looks like a better fit if you're looking for out of state as it returns will be much better