All Forum Posts by: Stephen Blake

As an investor and PM in the OKC the advantage of a PM is they're your "boots on the ground" example is performing property inspections, posting notices to quit, ext.... it's extremely difficult to run any rentals out of state without someone there to be your eyes and ears. of course I'm a bit biased in this situation.

 Yep there's plenty of neighborhoods and areas that can carry that rent range. We're a Franchisee of Homevestors of Ameria / We buy ugly houses. I'd be more than happy to help you find some deals if you're interested.

Agree with Greg here. I feel like rural communities and the OKC metro are different when it comes to real estate and rentals. Knowing the market and having a good realtor to help you with that is key.

So I'm understanding this correctly, the property has been listed, one way or another for the better part of 18 months? That's an incredibly long time for a home to not move. However, the market has changed in that time period with interest rates changing and homes staying on the market longer and longer.

You mentioned the big ticket mechanical items for the house, but it sounds like paint, flooring, kitchen and bathrooms we're mostly untouched. Those are really the things that will get someone to rent or buy a house more than the mechanical items.

At minimum paint will go a long way to give your property a cleaner look and make it more desirable.

Good luck, hope this helps!

Hey Jordan, I would find someone you can work with as your "boots on the ground" in the area to help with leads. Networking with local investors is one of the best ways to get some "off market deals". There are ton's of facebook groups where investors and buying and selling to one another as well. I'm a local investor, property manager, relator in OKC and would be happy to help if you'd like.

 Fair enough don’t blame ya. Good luck!

 All good pieces of advice from others here. I like going to projects at random times to check as well. Do scheduled and unscheduled inspections.

Good referrals works well. For us, since we manage quite a few rentals. I'll have them do a few small jobs as a "trial" period, before unleashing them on a bigger project.

Good luck and if we could be of any help let me know!

Welcome! If you're in need of PM or one of your buyers is looking for one send em our way!

 We we're able to negotiate with the seller (OG owners daughter) to cover all the closing costs to essentially get the purchase price to where the judge wanted, but bring our out of pocket purchase closer to what we we're asking for. Goal was to buy and hold this one.

After checking comps again, looked like there was enough meat there to flip it and make a few bucks so we're trying to sell it right now, but we'll see. If we can't get around the price we want we'll hold it!

 Yeah I hear ya. Good luck man, hopefully the judge is able to work with you and you can get the deal!

Aaron, we've moved a number of our "higher end" rentals to a lender called HouseMax out of Austin, TX.

They'll do a 30 year loan at around 6.5% but you need a tenant in the property and a lease before they'll refinance it. Plus there are costs for refinancing that might not allow you to do it. certainly an option to look in to.

Good luck, hope this helps!