All Forum Posts by: Ron Todd

Hi all,

I’m looking at buying a 24 unit complex. The largest multi I’ve done to date is a quad. I’d love any lessons you’ve learned and any tips for a project this size. Good, bad, ugly, send it my way!

I've had good results with the glue down LVP. If you are going to install yourself, I'd suggest the click lock as it's easier to install. I have a floor guy who does great work and I've had no issues with the glue down so far. I haven't had to repair any lvp yet, but I had heard with the glue down you can just repair the one damaged piece without having to remove a lot of additional pieces like the click lock. 

Hi all,

I'm looking at running new hvac ducting through my attic and filling in the previous ducting that was run through the slab. I've heard of using foam and/or cement to fill in the old ducting and I'm curious what y'all have ended up using.

Thanks!

35k goes a long way in Oklahoma. I'm going to assume since you have 35k to invest, you've put aside some extra for the "unexpected joys of real estate" (if not, please do!). For the quad I'm buying, cash to close is 30k and that's with 25% down payment on a 103.5k property. It could rent as is, but I'll put 15-20k into it force that appreciation. They are used to doing relatively small loans here, I know a guy here who financed a duplex that sold for 45k. These low prices are a trade-off though, insurance is high in the Midwest and it's harder to get those huge appreciation stories you read about here. It's fairly easy to cash flow $200-300 a door all things considered. Good luck!

Hey Dane, I've never done a house hack (mainly because I hadn't heard of it when it would've made sense). I've got a ton of kids now so that strategy wouldn't really work well for me anymore. If I could go back to the beginning, I would've done a house hack when it was just my wife and I. As far as where I'm at with investing, I'm very much in the expansion stage. Once realtors learn you can close, they will start bringing deals that meet your criteria. I'm a buy and hold type but it seems like I am shifting into value add (and still hold for awhile), as I get more comfortable with renovation projects. The military keeps me working more than full time, so I'm happy with my strategy for now.

Hey Dane, to answer your first question, you just need to get out there and start looking. Whether that's driving, using Zillow, or talking to realtors. I drove by a quad that I wanted to check out so I called a realtor I like to work with, and we toured the property. During that walk through, she told me the quad we were looking at was too expensive and she had a line on another quad that would fit my needs better (for half the price). She was right and I ended up buying the quad she recommended. Fast forward 6 months and I'm now under contract for the original quad we toured through. The difference? I knew the numbers better this time and am getting the second quad at a steep discount. Real estate is all about making connections and getting out there! 

Life hack - join the military, don't claim a hometown, buy everywhere!

Hey William, the cost sheet has it about 30k total to close.

The numbers don't lie. My buddy is going through a similar situation for some self storage in town. Seems like a lot of the mom and pop owners sell based on emotion and have crazy high prices. I'd sell any of my properties if I could get twice what it's worth! The best you can do is explain the why behind your offer and price it based off of what it's currently producing. Good luck!

I really enjoyed working with Table investments in OKC. They will take the time to answer your questions, don't use any hard sale tactics, and genuinely care about the investor. I don't get paid to endorse them, I'm just impressed with how they do business.