All Forum Posts by: Ben Scott

This may have been answered already but in my state there is a loan contingency, i.e. the buyer is only obligated to consumate the transaction if they qualify for financing. If financing falls through, they can get their earnest money back and cancel the contract.

@Dennis Borg Be careful with Del City. That city's municipal code states a city inspector must come out and inspect the property any time utilities change names. That inspector can require the new owner to make repairs before they'll turn on the utilities. I've heard horror stories of landlords having to make $5k+ in seemingly unnecessary upgrades/repairs to appease the city inspector. This is all unique to Del City. 

Do you have the cash to make those repairs and then sell as more of a retail play?

Bi-weekly virtual meeting to discuss Oklahoma City real estate investing. Local and out of state ... are all welcome. Just like minded folks talking OKC real estate. Link and password below.

Ben Scott is inviting you to a scheduled Zoom meeting.

Topic: OKC Bigger Pockets Zoom Call - July 28
Time: Jul 28, 2021 01:00 PM Central Time (US and Canada)

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Like most of the country, Oklahoma City is a hot market right now. But there are still deals in SFH and MFH that will meet that 1% rule. They are just more rare now than a few years ago. Oklahoma City, historically, is a stable, linear market. Economy runs primarily on oil and gas but is much more diverse now than a generation ago

I would definitely agree with that.

I'd echo what Will said. Plus a portion that area is in Western Heights school district which has been taken over by the state board of education due to mismanagement. So a lot of bad PR for that area right now. That being said, homes in Class C or C+ neighborhoods can typically cash flow more. But the opportunity for appreciation could be less.

Congrats! Yes, I would start with an incremental rent increase to keep the tenants in place, if they are good tenants. Make sure to review the existing leases as you'll be obligated to those terms unless you have them sign a new lease.

Bi-weekly virtual meet-up with Oklahoma City real estate investors - local and out of state. We talk about the market, things happening in our community and industry and network with like minded folks. Link below. PW: pockets. All are welcome.

Ben Scott is inviting you to a scheduled Zoom meeting.

Topic: OKC Bigger Pockets Zoom Call - July July 14
Time: Jul 14, 2021 01:00 PM Central Time (US and Canada)

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Meeting ID: 507 366 4228
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Hey @Carter Still how are you finding your off-market deals? Direct mail? Cold calls?

Bi-weekly virtual meet up for local and out of state investors to talk Oklahoma City real estate. All are welcome. We discuss trends in the market along with best practices for real estate investing. Please join and network with like minded folks in this market. Invitation below. 

Ben Scott is inviting you to a scheduled Zoom meeting.

Topic: OKC Bigger Pockets Zoom Call - June 30
Time: Jun 30, 2021 01:00 PM Central Time (US and Canada)

Join Zoom Meeting
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Meeting ID: 507 366 4228
Passcode: pockets
One tap mobile
+16699009128,,5073664228#,,,,*7852549# US (San Jose)
+12532158782,,5073664228#,,,,*7852549# US (Tacoma)

Dial by your location
+1 669 900 9128 US (San Jose)
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)
+1 646 558 8656 US (New York)
+1 301 715 8592 US (Washington DC)
+1 312 626 6799 US (Chicago)
Meeting ID: 507 366 4228
Passcode: 7852549
Find your local number: https://us02web.zoom.us/u/kFzW...