All Forum Posts by: Zach Sikes

Ryan,

Where did you eat?

Mike's right.

FHA wants to know that you have put money into the property to rehab it, so they might ask for receipts. They don't care if you made money or how much, just that you aren't buying then quickly reselling without doing anything on the property.

Michael

There are a couple of different things that you need to consider. Sometimes different Realtors have different marketing strategies and budgets. Sometimes particular offices do group marketing. That is about the only reason a particular office matters.

So, the most important thing you really should be looking for is how effective a particular agent's marketing is. Just about all agents will add your home to the MLS and the websites that take info from the MLS. You need to ask what the agent can do above and beyond that.

With that in mind, the other MOST important thing is to price your home right the first time! So, an agent's perspective on your area is extremely important.

In OK, there is no such thing as agency. Therefore, there are no "Agents". The law changed a few years ago, so around here most people call themselves Realtors or RE Consultants.

I prefer consultant, but not as many people around here know what that means. They all know what an agent is, but most don't know that we don't have it anymore.

Thanks Will. I plan on staying active, although I know that planning is not the same as doing.

BTW I forgot to mention in my earlier post that I am with RE/MAX here in Edmond.

Hello from Edmond, OK. Ok, so I might have skipped a few steps and never really posted to introduce myself. I created my account a couple of weeks ago, and just started really using it lately.

My name is Zach Sikes, and I am a Realtor in Edmond, OK. I work in Edmond, North OKC and surrounding areas. I specialize in selling residential real estate, but my ultimate goals are to create some passive income from REI. I've seen it work firsthand, and I know the construction side of rehabbing and new construction.

@Realtyman - How did you qualify to buy the apartment complex but not a personal residence? I would love to do that instead, and live in an apartment there for a while.

Well I'm doing pretty good for being new. We are planning on selling the house I bought in college so I can contract our next house. I plan on taking advantage of the cap gains tax break for your primary home, but I want to buy rentals.

Problem is I can't buy my house and another, especially being on straight commission and writing off as much as I can.

Hey guys, I just wanted to start out by saying I love the wealth of info BP provides.

I'm a young Realtor in Edmond, OK (northern suburb of OKC). I just finished my first year of selling real estate, but I became a Realtor to learn the market so I could invest. I'm 24, and I know that there is not going to be any social security left for me (#ponzischeme). I've seen first hand how well investing in real estate can pay off, but it seems you have to have money to make money. What's the best way to start?

I'd eventually like to own enough rentals so that I can hire someone to manage them while they are still providing passive income.

Great article. Really gets me going. I'm a young Realtor that became a Realtor to learn the market I'm in so I could invest in it...BP has been such a great help.