All Forum Posts by: Veronica Giggers

Chickasha is an interesting choice for a buying location.
If you don't mind me asking, what draws you to that area instead of somewhere like Shawnee or Guthrie? 
Might be a good idea to get in touch with a management service in town and ask if they contract any handymen for their general up-keep. 
I imagine it would be a good idea to hire someone who is already doing that kind of property work
Yellow Pages Link to Property Managers in that area
 

As for the handyman, be sure obviously it is someone you trust as they are essentially managing your business at that point.  I'd require them to get any repairs/purchases above a certain dollar amount approved by you first.  

The expected rents in that area fluctuate a lot depending on which part of NE 18th you are on.  

@Veronica Giggers How long can you support negative cash flow. That extensive of a remodel will increase your property tax. Googled average tax and it is .085 of ARV. You tax will go up to around $225 per month. Your all in is 280k for $2100 of income. Unlikely you can find PM for 5%.

Submit a cookie cutter letter of intent you can personalize to each property vs a full 26 or whatever page offer. 
Mine is friendly and outlines 3 scenarios I'd be happy with.  
If the seller shows interest in a scenario, then do a formal offer. 

SRO. single room occupancy. are in HIGH demand with populations who are getting served by DHS-dept of human services. think of domestic violence, homeless, exiting or enter jail, prison, rehabs -for physical or mental reasons -accidents, surgery, breakdowns etc.; divorced, teens exiting foster care (18-21 age). yes there is a need. you need to know where your clients will hail from. there you will find them at DHS/DSS/WIC/DV/ agencies. single rooms, shared kitchen, bath etc. all very commonly used for "temporary/shelter care" housing. for 30days to one year. pending --usual things like court hearings, sentencings, adjudications, or pending finding a larger unit to reunify with children taken by CPS. be ready for drama. but if you work it hard-the state/county/federal will pay. HUD pays. just expect to not be paid on time & deal with paperwork! it is my area of expertise--i suppose.

As it depends the location and demand of the area. As some places as higher demands for 1B1B due to the high stats of singles or a state that only attracts for job opportunities. However, at OK due to the land availability and population being 3.987 million...I personally would lean towards more bedrooms as it's being ranked 18th highest marriage rate in the country = more family members in the single household.

@Albert Bui @Carlos Valencia