All Forum Posts by: Shiloe B.

I know it's been a long time since this was posted, but I thought I'd check in on your experience @Bob Malecki because I have the same questions. I'm looking to attend the Oklahoma County auction for the first time this year. Any feedback you have from your experience last year would be helpful!

@Marielle Walter ,

As @J. Martin said, I do urban infill development in Oakland and would be happy to meet with you and talk more about it. There is still land to be had in Oakland, but the half acre lot size you mention is huge for this area. Those that go up for sale usually get scooped up by the luxury home developers. A small lot by Oakland standards is ~3000-4000 sqft, they are much easier to find. 

I've worked on tiny house projects, and have a lot I'm considering a tiny house mini-development on (Oakland zoning code's term, not mine).

Contrary to the above advice, I'd stay away from the more rural surrounding areas. Oakland is more expensive, but there is a ton of demand for housing, and zoning is making it a priority to add more units.

I have not done this with a yellow letter, but recently included gnarly photos along with repair estimates as part of a negotiating package when presenting an offer to an absentee (out of state) seller on a multi-family. My very low offer was accepted, and I think the photos played a large part.

I like Vumber. I get two toll-free numbers for $9.95/month, 500 minutes/month. 

I would not spend the money on it. I don't think it will help the resale as it actually takes away the flexibility of the space.

I have a lot of clients tearing out wet bars that were built in the 90s. It seems like a trend that is on the way out.

Hi Michael,

I always finace 6+ unit multi-families so that I can keep minimal cash tied up in the property. I work with smaller, regional banks who are more accepting of commercial loans with lower down payments (most can do 80% LTV).

But then I'm working on value-added, not wholesale. 

Hi Steve,

I'm originally from OK, now living in CA, but I still invest in the OK metro areas. Happy to help you however I can.

Commercial tenants make great neighbors because they typically are quiet after 6:00pm.

You will have to get commercial insurance, but it would go through your regular broker and be comparable in price to multi-family.

I like mixed use and would seriously consider keeping the lower storefront as-is and getting a commercial tenant there. The right business can help boost rents in an area, and commerical tenants tend to be low maintenance, long term renters.

Separating the utilities is a good long term plan, but why not wait until you've built up some cash from the property so that you're re-investing the funds back into the building?

Energy efficiency is overrated in areas with mild, temperate climates. You didn't say what part of Florida you are in, but jalousie windows are all over Los Angeles and add to the charm of those 50s bungalows. In bathrooms, they're often open year round.

My two cents -- save your money for other upgrades after you've spent some time in the place and know better what will make it more appealing to your vacationers.