All Forum Posts by: Simond Wong

@Account Closed 

Thanks so much for the feedback. I will definitely be looking into your suggestions and add you folks to my rolodex. 

thank you again.

Good Morning BPers,

It's been a super long and super busy, but the weekend is upon us. 

To be boost energy, morale and motivation, in this super tough market, Would any BPers investing in the OKC market like to share your RECENT (with a year) success investment deals?

Give us some of the details too (You know we all are nerds for the numbers!)

 1. Asking vs Purchased Price 

2.  Renovation Costs

3. Property Details (bed/bath, multi/sfr, etc.)

4. Rent

6. Cash on Cash return 

5. OKC Neighborhood you purchased in

As for me, no successful deals yet. But this week, I did look at 2 properties, analyzed those deals, connected with 2 individuals that I need as part of my real estate investing team and have a coffee/drinks with another person today. I also planned out my weekend to call and introducing myself to lenders and see what financing opportunities are available. 

Happy FriYay, Good luck everyone and I hope we can all share some good deals to keep the energy flowing. 

Best,

Simond

Good Morning BPers,

I am going to check out a multi-family today with my real estate agent the MLS description stated one of the units had "some" fire damage. I know it is difficult to ask without having seen the property and sharing any further details, but there were no pics of the unit for me to see.

What would you look for in fire damage to assess the viability of the assessment?

Can you list out the common things that needs to be done and addressed from a rehab perspective in order to make it rent-ready?

Can you list out common things that I would need to think about to address (i.e construction, legal, city permits and certif. of occupancy?

What are some things that are often overlooked when thinking through a fire damaged unit? 

Please I would appreciate your feedback and guidance.

Thanks!

Good Morning BPers,

I am going to check out a multi-family today with my real estate agent the MLS description stated one of the units had "some" fire damage. I know it is difficult to ask without having seen the property and sharing any further details, but there were no pics of the unit for me to see.

What would you look for in fire damage to assess the viability of the assessment? 

Would a police report be available or a fire report to get an idea of the damage? 

Can you list out the common things that needs to be done and addressed from a rehab perspective in order to make it rent-ready? 

Can you list out common things that I would need to think about to address (i.e construction, legal, city permits and certif of occupancy? 

Please I would appreciate your feedback and guidance. 

Thanks!

Afternoon Everyone - Hope you all have made it through Wednesday. 

I am new to the OKC area and I am interested in meeting and connecting with people with a similar passion and interest in real estate. I am open to virtual meetings but most certainly prefer meeting in person of coffee or a fun activity (e.g, OKC's self guided architecture tour, etc.)

A brief intro about myself, I am from Philly and moved here over the pandemic ( the extra space is nice). I have 2 SFR rental properties and I am interested in obtaining more if it makes sense. My strategy is buy and hold, but I know the market is tough, so I've begun to consider flips as well.

I look forward to meeting as many people as possible and building positive friendships. Please reach out if interested and I will DM you. 

Thanks,

Simond

OKC

Oklahoma City

Oklahoma

@Denise 

@Denise Curtis how did your investment pursuits turn out, did you buy in Capital Hill or OKC at all? Good luck.

Afternoon BPers,

I am interested in getting a better understanding of OKC, specifically the different neighborhoods/area, with a description of the vibe, neighborhood pros/highlights/potential and cons, average/range of price point. Ultimately, would like to see if it is a class A, B, C,area as well. The goal is to purchase properties for long term investing.

Any one has any good sources to share? Would appreciate hearing this community's feedback.

Thank 

@Forrest Faulconer @Will Fraser @Ben Scott@Jason Gonzales thank you all for your response and feedback, I'll review the info you all share.

Further, do you folks have any good sources (docs, websites, articles, etc.) that can describe OKC neighborhoods? I am interested in getting a better feel for the general vibe, price points, neighborhood highlights/potential and neighborhood cons, and ultimately see if it is Class A, B, C, etc...

Thanks again gents.

Hi BPers, I am interested in finding out what the Oklahoma City real estate taxes are. I'd like to be able to use this info to analyze deals and possible annual returns.

Thank you all.

@Moises R Cosme thanks so much for your response. 

The house is paid off, there is no mortgage. You definitely provided me with more questions, which is a great thing! I appreciate the questions and sources of information, this is certainly food for thought and things I need to get answered. 

Mom has 2 more properties in addition the 1 she wants to transfer to me and my sister. And unfortunately I do not have answers to your questions, but it gives me a good starting point. thank you so much.

@Chris K. , similarly thank you for taking the time to respond. It was helpful to make sure that I am thinking of the approach correctly.