All Forum Posts by: Seth Brasile

Whoops on the formatting and extraneous bullets marks! I noticed too late and I can no longer edit my post!

https://www.realtor.com/realestateandhomes-detail/M7558879820

I have 12 units in Durant, OK for sale for $1,575,000. Unfortunately can’t offer seller financing.

• - $1k/mo/unit
• - 4% vacancy all of 2024
• - About 6 total leases termed out in 2024, max fill time 2 weeks (although I think the last one may have tipped 15 days… I can double check)
• - Rents can be raised +$100 low friction, planning to raise next round of lease term outs
• - ~875sq ft per unit, all 2bed 1bath so 24 beds total, 12 baths total, ~identical floor plans in all (some measurements vary unit to unit but same basic floor plan)
• - Fully renovated roofs/siding/windows/electrical/trim/cabinets/granite counters/tubs/toilets/HVAC… all of the things
• - Single tax role so “one property” currently on a commercial loan, but there are 4 structures—
• • - 1 Duplex
  • - 2 Triplexes
  • - 1 Quadplex
• - 2024 maintenance expenses $6,500 (had a fun plumbing main line issue, fixed by licensed plumber)

Text or call my agent Carol if interested: 903-814-8845

Here are some photos of what the interiors look like. These aren't in the listing yet.

https://share.icloud.com/photos/0b0yvLXNJO01fgF8jIo-NSOfA

These interior photos are from when we finished renovations on one of the buildings about 2 years ago, so not current, but also not too long ago! Hoping to have some current interior pics on the listing soon. They were all finished to look exactly the same on the interior.

And here's a PDF writeup with expenses and other info: https://drive.google.com/file/d/1yYOvrMHQBfLu0Mt6ixsIGwTl3Oe...

Varghese, if you'd like to pursue, keep me in mind because I may know some local resources who I could get you in contact with. Also let me know if you're interested on partnering up on anything, I might be open to talking about that, I've been lightly considering looking for some partners.

I've been considering pursuing mostly flips and BRRRR but also new builds for sale - but I have all my capital tied up in a couple of deals at the moment! One is getting close to exit though so 🤞 wish me luck!

I'm in Durant. With proximity to the explosive growth happening in Sherman, TX, on paper, huge potential. In real life, it's slow-going and in my experience rents are lower than it seems like they should be. There was a brief period a couple of years ago where demand was out-pacing supply by a large margin, but that has calmed down. I don't think building here is a bad idea, definitely a growth market, but not a HOT market at the moment either. I'm not sure about the idea of new builds for rentals... that sounds risky... but I haven't run the numbers.