All Forum Posts by: Nathan Allen

Niiiiiiiiiiiiiiiice!!! Man thats killer :D :D :D Glad to see you made the magic happen on that one. On the bigger complexes its the same idea just on a bigger scale. I was looking at 93 doors a few months ago here in OKC and it was a total rehab... The numbers just didnt make sense to remodel... We could have buldozed the place and rebuilt cheaper than the remodel hahaha 

Thanks for your insight!!!

WOW! 25%? Thats crazy my man!!! Here in OKC thats not the case from what I have found. You are absolutely right about the renovation taking away much of the cap x 

By large I mean 100 doors or there abouts. If it was 12 or 20 units your are spot on by doing bits at a time. Im looking at renovating building of 10 to 18 units at a time buuuuut once one building is done the rest of the complex will still be needing quite a bit of TLC... So there wouldn't be a huge rent increase until the whole or most of the property was up and going at its new level of higher and better use.

I have been entertaining the idea of buying a large apartment complex to remodel in Oklahoma City *OKC. However the thought has crossed my mind many times to instead buy some land and develop a complex into exactly what I'm wanting. Plus as an added bonus everything will be brand new so no Cap X and very limited head aches for the first few years while we stabilize the asset. Granted during the construction phase there will be no cash flow, but with a construction loan we only have to pay the interest which will still be quite a bit of cash every month... But at least manageable!

I have found remodeling to be quite costly as well as time consuming. It took me quite a bit more time in addition to capital to remodel my 4 plex located in The Plaza District then it would have to just build a new one from scratch if the zoning was approved. Granted now I have a great vintage class A asset in a great location, but the cost was a real killer hahaha

You guys have any experience, thoughts, ideas or insights as to what direction would be the best to move in? Thanks so much for you time!!!

 Thanks David! 

I dont know about the great players my man... I can only speak about my experience as well as the experiences of other investors I know. I can say from my prospective of being a financially independent 28 year old blessed to be able to travel this world I havent met anyone who had a coach or guru to thank for their success. In my opinion I think these are great ways to spend money on something to feel like your are doing something to get closer to your goals much like buying a gym membership. We dont need a gym to be in great shape, we need daily effort! Consistent effort to form our lives into what we want out of them.

Im all for having like minded friends and learning from their experiences as well as telling of your own much like we can here on BP. I have friends that are rocking huge apartment complexes as well as friends who are buying their first property. People helping people I feel this is by far a better use of our most valuable asset we have... Our time.  

Thanks Michael Floyd! Glad you enjoyed a bit of my story :D

 Good stuff Khadijah! Remote work can be very rewarding but at the same time it can be difficult for some people to stay task oriented when they dont have to punch the clock... I know it was a big shift for me hahaha There was luck involved on a few deals but the situation I am currently in has more to do with hard work and sacrifice ;-) Keep on keeping on and you will get there sister... It took me 9 years to be an overnight success story lol

Thanks @Juan Vargas (Not sure how to tag people on here hahaha) You got it buddy!!! Consistent and persistent wins the race every time :D  

Hey guys! I'm writing to you today from some beautiful as well as very chilly mountains located just an hour north of Bogota, Colombia. I am new to the site, but I'm very familiar with the podcasts! I have listened to all of them over the last three years and have really gotten a lot of inspiration as well as a mass of usable information out of each and every show. For this I am eternally grateful to Josh and Brandon for putting together such a great  platform for us to use and grow with. I am wanting to reach out to you today to hopefully inspire as well as motivate you. If you dream big enough, and work hard enough there is nothing that we can't do in this life!!!

I have been traveling by motorcycle through Central and South America for over a year now using only my real estate passive income. This trip has been truly life changing with all of the great experiences as well as life lessons traveling brings. Before I set out on this trip I spoke no Spanish and really didn't even look at a map to do any kind of route planning... But I knew in my heart I would find great friends along the way as well as amazing perspectives to see this life through. Some of my previous backpacking travels include Europe, Eastern Europe, Southeast Asia, the Middle East as well as parts of South America, but this is the first time with a motorcycle! I can say I will never travel again without one :-) The freedom it gives is worth its weight in gold!!!

I am a full-time real estate investor and I have my mail sent to Oklahoma City which is where I call home as well as where I have choosen to invest in the multifamily market of 73106 / 73118 for the last 10 years. I truly feel that the Oklahoma City area is a fantastic place to live as well as invest. It just so happens that I was fortunate enough to move there and find out first hand in 2006! However exactly like this trip south of the border when I got started in real estate I knew absolutely nothing about anything but I knew that I would learn along the way. The only thing I had going for me was the fact that I had read Rich Dad Poor Dad by Robert Kiyosaki. That book forever change my life when I read it at 16 years old. From then on I knew I had to be a real estate investor to get where I wanted to be in this life.  I am not a big fan of mentors or gurus... I feel that experience is the best educator for anything in life but especially in real estate. I do however feel that we don't need to reinvent the wheel, and we are here on this earth to help each other! There is absolutely no reason to pay a mentor thousands of dollars to get started when you could use that same money to buy your first deal and learn a hundred times more than anyone could ever teach you in a weekend seminar. In my experience I have found the harder you work the more luck tends to find you as well as great like-minded people to grow with. With that in mind I am excited to be a part of this community as well as to be doing life with you all!

I am very much looking forward to connecting with you guys as well as to be better able to serve you!!! I by no means know everything about anything but I can share what I have learned in my experiences in multifamily and travel. I'm currently looking into getting into large apartment building and apartment complexes in OKC. My plan is to travel until this time next year and then come home to write the next chapter of this life as I turn 30!!!

Much love! ttyl

Hey Mark! How small, and how mid sized are you looking for? Any location in particular you looking for? 

Hahaha Ya Rhett thats me. I have had her for 10 years this June. Very cool man. The Plaza is such a great area! Glad your able to to be a part of that experience!!! You really don't need a huge amount of cash flow to travel, but a little more never hurts hahaha. Its hard to serve others from an empty cup my man ;-) 

Ya dude I decided to pass on the 93 doors to be able to keep traveling. It would have been great to work on that particular project but it would have also required me to be back in the city for the next 2 years as it was an almost total rehab project. I think this time next year I'll be ready to come back home, and stay for a while writing the next chapter of this life!!! 

Let me know if there is ever anything I can do to better serve you!!!