All Forum Posts by: Tyler Flagg

Hey @Ron Daugherty, welcome! My wife and I are moving to OKC in the summer as well...best of luck during the relocation :-). I've been keeping my eye on the sheriff sale website but my schedule has never worked out to attend a meeting. Unfortunately, I hear that a lot of the properties have been bought back by the banks in recent history. Not sure how many good deals are available through it, but I hope to find out in a few months. Best of luck!

Hey @Dwyatt Jackson welcome to BP! I own a few rentals in the C10P area just south of the Plaza. I had to put some money into them prior to renting them out, so my CoC for year 1 was only about 10%. However, if you're buying a turn-key property and not going for a value-add strategy, I would be wary to accept anything less than 20%.

Hey @Zack Ellard welcome to BP! I love the plan as well as your excitement and enthusiasm. Keep it up! Feel free to drop me a line if there is anything I can do to help. Best of luck to you and your family. 

@Theresa Nicoletto Awesome! Thanks for the information. I'm not sure if I'll be able to make March 8th as I don't like in OKC yet. However, my wife and I will be officially moving to the Sooner state in the summer and can't wait to participate in some happy hours' ;-)

Hey @Steven W. that's a very valid concern that has been brought up a few times on BP. There have been a lot of great responses from people who are much more savvy on the oil industry than I am. If you type 'Oklahoma City Oil' into the search bar it should give you a few pretty good threads. Here's a few for your viewing pleasure. Hope this helps.

Oklahoma City market and oil prices

Oklahoma City market - changes coming?

Hey @Nick Doria thanks for the post! I think you've got a great idea here, and I would love to help in any way you see fit. I believe it could be a really valuable tool for military members who are thrust into the world of real estate every 2-4 years when they have to PCS.

I've been researching military resources for business and real estate over the last few months in order to write a BP Blog Post about them. Unfortunately, life has continued to get in the way and I haven't had a chance to finish it yet. However, your post has given me the motivation I desperately needed...so I figured I would brain dump it all here first before turning it into an article :-)

1) SBA - The Small Business Administration offers many services for Veterans and Active Duty Military personnel. After speaking with people at the organization, it does not appear that loans are available for real estate based businesses, however other services are. 

2) VA Entrepreneur Portal - The VA has another great resource that links military folks with resources, information, and content regarding building a small business.

3) VA loan - Obviously we're all familiar with this. However, the VA Lender's Handbook (Pamphlet 26-7) cuts right to the chase and is the guiding regulation for lenders.

4) NFCU Business Loans/Lines of Credit - Navy Federal Credit Union advertises business lines of credit, as well as loans for commercial and investment real estate

5) Tuition Assistance / GI Bill - There are plenty of undergraduate and graduate degrees in real estate & property management; both in-house as well as online. So instead of getting a degree in underwater basketweaving from California Coast University, one could use TA or the GI Bill for a degree in real estate assuming they're eligible.

6) VBOC - The Veteran Business Outreach Center (part of the U.S. Small Business Administration) is another great resource for aspiring veteran entrepreneurs. I've been to a few free events of theirs and they were definitely worth the time. 

7) SCORE - Is an organization previously known as the "Service Corps of Retired Executives." This is a non-profit organization that is dedicated to giving advice to small business owner's. They also have a program called "Veteran Fast Launch Initiative" where they offer free software, services, and mentoring to veterans and their families who are starting small businesses. 

Hope this helps you get started. Feel free to drop me a line if there is anything else I can do to assist your endeavor. 

Tyler

Congratulations @Cornelius Charles! That's awesome. I'm in the process of flipping my own house with my wife right now...if it's 1/10th as successful as yours was i'll be happy :-). Hope to get some more updates from you soon. Best of luck!

Hey @Account Closed welcome to BP! Congrats on flipping your own house. My wife and I are moving to OKC and are in the process of doing that as well in order to get some practice. Best of luck! Hope to see you around town. 

Hey @William Rendall welcome to BP! I'm an AF guy myself and have been investing for about a year and a half. Feel free to drop me a line if there is anything I can do to help. Best of luck!

Hey @Steven Worlow welcome to BP! Congrats on getting started in real estate investing. One of the websites that a friend of mine just told me about is www.okctalk.com. It's a forum that has tons of news regarding new construction and development in town. That should get you on your way to knowing everything that's going on in town regarding real estate. Feel free to drop me a line if there is anything I can do to help.