All Forum Posts by: Obed Calixte

Know the rules and follow them - it's really that simple. 

I do not know Oklahoma licensure requirements, however it is likely you need to hang your license with a broker. Find a good brokerage and a mentor there.

Get a title search done. 

Another option that requires more legwork is to call the servicer/ producer of the inverter. They will point you to the original company (if not them) with the lease or purchase agreement.

For the first purchase- the home can not be your primary if you intend to use a DSCR loan. DSCR/hard money are non owner occupy loans.

If you decide to do FHA203K for the first home - a 203K consultant/inspector will be required for the standard 203k loan, you will unlikely be able to serve as GC and you sign a 1 year occupany affidavit.

The homes that you used to determine your ARV are a good reference point.

Pinterest is also a wonderful resource. There are plenty of mood boards and renovation material ideas on there. 

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).

The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

A reputable title company will keep things on track. Just ensure to complete necessary due diligence - this can include, but is not limited to, title search, property inspection, appraisal and/or survey. 

There's quite a bit of threads on the same topic weekly - you'll find plenty of markets shared.

What will help you figure what market to invest in will be answering a few questions for yourself: 

are you willing to travel to that market, what is your buy box, are you seeking appreciation or cash flow more, do you have or reasonably can garner an edge in that market (ie - can you build a great team).

Have you searched your county site to identify those that have bought land in your area the past few years and then contacted them?

Find and attend your local REI groups.

To connect with investors you will have to move beyond just digital - you will have to connect as much as possible on the phone and face-to-face.

The neighborhood specialist sounds to be the better fit. At the end of the day, the list price is your decision. If you believe that 550 is a tad too high, you can have the agent list it lower. 

It will help. Now, don't let having a property manager keep you from learning the ins and out of managing a property. You also will still need to manage your property manager  - ie, stay on top of expenses, ensuring your property is being managed effectively etc. 

Those are much easier to do than having to deal with a difficult tenant daily however.

Some people have the personality, processes and systems & time to self manage, some do not. It is good to know which camp you are in. 

It sounds like a prudent choice to bring in a property manager. Assuming they are professional and skilled in the craft - alot of the issues you have faced, they will remediate and mitigate moving forward. That will help you garner a better picture on if holding this property longer is a fit for you.