All Forum Posts by: Callum K.

@Sherita Delgado  I have spent my entire life in Tulsa and am intimately familiar with the terrible tragedies of the Tulsa race riots.  I have no issue with their cause or objective and congratulate them on their intent if they do plan to invest in underdeveloped, urban areas.  The name is somewhat misleading given they have no immediate plans to invest any of their capital in Tulsa.  We could use capital infusions in many parts of our community, but like many cities, our underdeveloped areas could use the investment and carry a greater economic and social return

@Calvin Lipscomb access to information is the difference.  Established credibility and financial history is the difference.  You can't honestly tell me that there is more transparency in a startup fund than a multi-billion dollar multi-national, publically traded company.  Furthermore, GE is certainly a convenient selection to articulate your point. While GE is down 50% YoY, the S&P500 is up 12% which is a much better assessment of the market than GE.  To select GE would be like me selecting Boeing, which is up 90% YoY.  I do agree with you in that I am fortunate to have access to doing things others are not capable of, like taking risks and investing in funds like these.  That's why I encouraged people with as little as $500 to invest it in the stock market or bonds instead.  All the information they need can be found online. 

Good catch @James Niemeyer .  I didn't see that and assumed the money raised would likely be reinvested in Tulsa.  That's unfortunate.

I don't think we can in Oklahoma, but I did have a gun junkie renter accidentally shoot himself through his stomach and leg on Thanksgiving last year because his gut set off the trigger.  I'm told his large amount of fat saved his life and he was out of work for a couple months.  It was a little scary at first, but now all of us have a laugh about it

Hi,

I have an option to purchase a commercial property that has found itself with restricted access via a lot next door.  The neighbor is looking to sell their property and is wanting to resolve the decade's old handshake deal he made with the soon to be former owner of my property.  I discovered there is an easement in place on the neighbors property that coincidentally covers the driveway we currently use, however, the easement is owned by a third party.  I have located that owner of that easement and plan to reach out to him and possibly offer him some money to transfer that easement to me, but I wasn't sure if that's even possible.  Does anyone have any experience in easement transfers and is can people effectively buy/sell easements if there is no clause in the filed easement specifically prohibiting it?  Thanks in advance!

Hey Jon,

I currently work for an engineering company out of Houston and have been picking up rental properties for the past decade.  More recently, I have moved into multi-family properties (one of which is in Skiatook) and mini storages.  I found that my analytical skillset was useful in constructing financial models for the multi-family properties and I use some of the tools I have to develop construction schedules.  Like everyone before me said, I would focus on networking because that will likely land you a job first and begin opening doors for real estate investments.  Best of luck

I guess I'll be the first to chime in.  First thoughts.... yikes. 

In my opinion, if you are going to make an investment as small as $500, you might as well put it in the stock market.  If you are going to do several thousand dollars, it might be better to look at how people on BP are operating and buying properties.  I know they often have a preferred return and then share the profit, but the profit can effectively become whatever the fund wants it to be, which I would assume would more often than not, be nothing.  This results in you basically lending the fund money at an 8% rate which (especially in increasing interest rate environments) could soon be relatively cheap money.  I don't have any issues with these people, and I don't know anything about them, I just am more of an advocate to learn about what you are putting your money into versus giving it to someone else and trust them to do it.  If you are going to do that, then at least put it in something that's established, reputable, and well regulated like the stock or bond market.

We have picked up quite a few commercial properties over the past couple years and they have consistently been backed up 3-4 weeks throughout the year and 5-6 weeks near year end.  When dealing with properties outside of Tulsa, I think appraisers push them out in their workload or try to couple them together so they don't have to make the commute more than once. Good luck w/ the multifamily out there.  I know the area well and I'm sure it will do well for you.

Bump. Has anyone had success with this criteria on Fannie's regulation? My lender won't allow me to transfer my mortgage backed properties into either a trust or a single member LLC, despite the fact that I am more than willing to keep the personal guarantee on the loan. The Fannie verbiage can be found

https://www.fanniemae.com/content/guide/servicing/...

https://www.fanniemae.com/content/guide/servicing/...

If anyone with actual experience in navigating these guidelines would mind providing feedback, it would be greatly appreciated.

I agree with @Tracy Streich.  I own and manage several hundred units in and around the Tulsa area and have found people doing what we do are much more helpful than those seeking a commission.