All Forum Posts by: Whitney McNair

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $150,000
Cash invested: $15,000
Sale price: $301,000

Found this deal off market and flipped it quickly for a profit. I do fix and flips and take the money to invest as a General Partner on a syndication team.

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

Quick sale and high profits to re-invest.

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

I found this deal off market from a Realtor.

How did you finance this deal?

Hard Money

How did you add value to the deal?

New kitchen, countertops, appliances, flooring, demo, new bathrooms, paint, etc.

What was the outcome?

Rehabbed and sold in 3.5 months.

Lessons learned? Challenges?

I would have hired a junk haul person to do the clean out instead of my contractor.

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

I was the Listing agent and sold the property in 3 days.

Investment Info:

Large multi-family (5+ units) other investment.

Cash invested: $65,000

Limited Partner in the Regatta Apartments Syndication.

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

Self directing my IRA. IRA was not making any money and I was able to redirect for higher returns.

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

Networking

How did you finance this deal?

IRA

I'm a General Partner on a Real Estate Syndication Team. We purchase RV Parks, MHPs, Apartments, etc. in Oklahoma and other southern states. We're looking for investors who would like to invest passively and be able to grow by investing with us. 

Hello, does anyone have a real estate development template. I'm looking for something simple that I can use to complete a project. I haven't been able to find one that I like. 

If you're looking to invest in Multifamily Real Estate I would like to see if any of our current deals meet your investing goals. 

These entities mentioned above have been purchasing land in Oklahoma

@Logan M. and @Samuel Coronado-It's not super easy. You would go to court for a normal eviction process to take over control of the lot. Since mobile homes fall under a motor vehicle category MHP operators would need to check the rules in their state of the entity that handles motor vehicles, titles, etc. Here that entity is service Oklahoma and they have a process I can follow. I can basically put a storage lien on the tenants property. Then if they don't move after a period of time I can file to foreclose and hold a public auction which must be published. I can even buy the trailer and gain a trailer if I want. Here it's called a Title 1042 Foreclosure. Process varies per state. The key is checking with the entity that regulates motor vehicles, tag agencies, etc. 

There are some exceptions for us citizens. This new law is to stop what's happening in the black market/marijuana trade and to help the attorney general crack down by having affidavits filed. You can be a citizen of the us, an investor, and purchase here. You can't be from another country and want to purchase land here without the "intent" of becoming an Oklahoma resident. 

My biggest advice when investing as a limited partner, do you trust the GP team? 

Hello, Multifamily Investor from Oklahoma here. Have you googled the Tulsa gang crime map?