All Forum Posts by: Jeff Filali

Deal 1- $91K down payment for $1200-2400 yr cash flow…NOPE! Not a good deal for Tulsa area. Also would be amazed if you could actually get $1600 mo rent there. 

Deal 2- $75K down payment for $600-1200 yr cash flow…NOPE! Not a good deal for Tulsa area. Depending on exact location west side can be very high crime or a good blue collar area. 

Tulsa is a great market overall.  But this isn’t Cali.  We can get good CASH FLOW here, I don’t touch anything under $300 per door.  Our appreciation is decent but isn’t as high as Cali. There’s lots of competition here for GOOD deals, but there’s probably a reason us locals aren’t buying these two.  Best of luck! 

Rent by the room can work for Corporate housing or Student rentals for sure in almost any market.  I don’t do it myself, but have had student rentals in the past out-of-state in College towns.  If I was going to do rent by the room in Tulsa, I’d look into doing student housing near TU or ORU, or corporate housing near the hospitals to target traveling medical staff. 

Please send info on the OKC deal and any others you’re raising for in Oklahoma. Thanks!

Click to read - Bigger Pockets Blog: Reshaping of Commercial Office Real Estate: A Detailed Examination

My site has lots of FREE help for any market.  But I’m from the Tulsa area also. 

Numbers balance out.  Home prices are lower in Oklahoma than some other MSA’s, but rents are lower as well in proportion. 

Follow the FB groups based in Tulsa.  There’s a few different meetups. 

I own a portfolio of condos inside my ROTH, there’s nothing but benefits to it. Tenants are buying them while they appreciate all tax free growth!  Going to be buying more doors inside the ROTH in 2021.

Let them buy it and do an “Option to Purchase” agreement with them for you to buy it at a set price within a set amount of time.

OR

Purchase together as a Joint Venture with an “Option to Purchase” their portion at a set price within a set amount of time.
OR

Form a partnership with them and purchase together in the partnership with an additional agreement to purchase their ownership in the partnership at a set price within a set amount of time.

OR 

Get them to fund the deal “Private Money” and payoff when refinancing.

OR

Just go to another bank who is willing to let you do both based on the numbers.

ACQUISITIONS METHODS-
1. CASH
2. BANK LOAN/LOC
3. PRIVATE MONEY
4. HARD MONEY
5. RETIREMENT ACCOUNTS
6. JOINT VENTURE
7. INVESTOR PARTNER
8. CROWD FUNDING
9. REAL ESTATE SYNDICATION
10. REITS (REAL ESTATE INVESTMENT TRUSTS)
11. REAL ESTATE MUTUAL FUNDS
12. ASSUMABLE LOANS
13. SUBJECT TO
14. SANDWHICH LEASE OPTION
15. SELLER FINANCING