All Forum Posts by: Ron Todd

I guess I am the outlier here but I've bought several properties without ever physically walking through or even looking at them. With that being said, I trust the people and teams I have in place to check out these properties for me. It really takes the emotion out of a deal when you haven't walked the place and you can focus purely on numbers. If I didn't trust the teams, I would want to walk through myself.

There are a bunch of posts and articles out there with interview questions you can ask before hiring your pm. I'd recommend doing a Google search and find one that makes sense. If the fees seem outrageous, I'd ask about then specifically during the interview and see what their justification is. I'm using several different PMs across multiple states and each one has a different fee structure. I interviewed each PM and asked a ton of questions and so far I haven't been surprised by any PM shenanigans. If they aren't meeting your expectations, tell them. I recently did that and it changed my relationship with the PM for the better. 

Hey Christian, what part of Lawton are you looking into? My dad was field artillery, and I've still got family there so I am pretty familiar with the town. If you need help with some contacts, I can point you in the right direction. 

When you make your 80k offer (or whatever it ends up being) I would tell the seller why you are offering at that price. If you explain that you are accounting for x, y, and z they might be more willing to negotiate vs going in with a low offer and no justification. I'm in a similar situation in negotiations over a quad (not nearly that kind of CF though), but in the end, if the numbers don't make sense, I'm on to the next deal.

Mike,

Correct me if I'm wrong, but with that plank you have disconnect all the way to the nearest wall, whereas glue down you can just take up the one plank (use heat gun to loosen adhesive) and replace it.

Hey Justin, I've got a couple connections in the OKC area that could be helpful for you. I've found it's difficult to find multis that meet your description, but for SFH, it's not unreasonable to get in the neighborhood of the 1-1.3% rule. Good luck!

OKC is a pretty good cash flow area. 100k homes seem to be a sweet spot for blue collar workers in the city. There are a ton of development/revitalization projects going on as well, hopefully we will see some appreciation out of that, but I don't rely on it. Let me know if you have any questions!

I like the glue down LVP vs the floating LVP because you can easily replace just a single piece.

Hey Daniel, I can't get the tag to work on my phone. I ask them how much it would cost to do the project with and without materials provided. If I haven't already looked for materials already, I'll look at this point and compare my price to theirs. I'm not sure I understand the trust part of your question, but I try and use contractors that are recommended by my fellow investors in the area. I also let the contractor know that I have other contractors stopping by to give estimates and this magically reduces the price fairly frequently. 

I would definitely shop around if you have other options besides Lowe's in your town. I use Lowe's all the time, but if you have time to shop around there are usually better deals to be had. Case in point, I was able to get the laminate vinyl planking for a floor job for $.60 less a sqft from a local flooring company vs Lowe's. If you have any friends or acquaintances in your town that flip, they usually have a good idea where the deals are and can point you in the right direction. Ironically, I'm about to head to Lowe's for some paint.