All Forum Posts by: Heather Vest

I'm a Tulsa realtor who has been investors for 9+ years (it will be officially 10 in August). 

I would love to hear your goals and what kind of RE you are looking at. There are so many options in the Tulsa Metro area. Feel free to call or text me. 

if I am understanding right, it all will depend on what your lease says.  Many say that if have more than 3 months to go, you will need to pay a 3 month penalty.  

I would 1) talk with property manager and see if you can come up with some kind of agreement. Many property managers are Realtors too. If they thibk they may have a lifetime client (and this is what ypu sell yourself as)(buying every so many years), they may be willing to advocate for you.

2) if that route fails, you can always wait until end of contract ans go to month to month (which usually comes with some extra fee)

3) Do what i did. Dont depend on apt manager to get new tenant. Whats their incentive? Nothing.  I began showing my own apartment and found someone who so loved it they wanted to take it over.  NOTE: NOT SUBLET. They approached managemt directly and said Iwant THAT apt. Landlord cant rent same apartment to 2 people.  Thats how we got out of our $1200 lease that had 4 months left. 

Good luck. Feel free to reach out .

Investment Info:

Other fix & flip investment in Ponca.

Purchase price: $50,000
Cash invested: $1,000
Sale price: $108,000

This is something Ive alwsys know to be true as an agent and finally was able to show true in rral life: people will assume a piece of land with a broken down mobile is worth less than a blank piece of land.

My hubby and i found 5 acres of land on fb marketplace, cleaned it up and flipped it for a profit.

What made you interested in investing in this type of deal?

We were actually considering multiple options with the land. Leasing it out to a mobile home owner, an rv owner, someone with a small amount of cattle, to grow Marijuana (legal in Oklahoma) , potentially build a house for ourselves or to flip.

How did you find this deal and how did you negotiate it?

We found it on Facebook marketplace just scrolling through ads one Sunday. I convinced the seller to pick us because 1) we were cash 2) I was a real estate agent and was willing to make it all formal 3) we shook on it.
I later helped prove my value to them by getting them an amazing deal on a house.

How did you finance this deal?

Cash.

How did you add value to the deal?

Removing the mobile home (we found someone willing to haul it off for free), getting dumpster and cleaning up random debris around the land, brush hogging land, adding a fishing dock, detailing in marketing all the great things about land in immense detail with amazing drone photis.

What was the outcome?

We had one failed offer when bank said land did not appraise. Ironically, another buyer came 5 months later with SAME bank and it apprised just fine.

Lessons learned? Challenges?

Look for deals everywhere. Broken down mobiles have a hidden value because to put in water, electric, a concrete pad and a septic tank will easily run you $30,000. People fail to see that. That was a huge selling point of the land (plus the spring fed stocked pond) .
Getting the bank to see the value that others did when comps were scarce was hard.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the agent on both buy and sell. Not a fan of bank who did lending just how slow they are to respond to things.

I've been to them and have bid on them for other parties.  I'm a realtor and would love to collaborate, i am looking to buy for myself,

When's the next one?

I am just starting out as a property manager (real estate agent) and needing a tenant screening that lets me enter in the info - know any that are good?

My tenants filled out an application and have only 1 email address for the couple (yes, I know they are free but this is not the 1st time I have encountered this as an agent).  

I am a realtor and have all of the forms and documents ya;ll mention but the program still sounds interesting - especially the automation part of it - any others buy this program and love/hate it?