All Forum Posts by: Callum K.

Since its a residential loan, you won't be able to buy it in an LLC. This is because if you did buy it under the LLC and the investment went sour, then you wouldn't be on the hook like you would through a consumer loan. I personally believe the LLC concept is a phantom risk as I have never met or heard of anyone losing a property because it wasn't in an LLC. If you want to mitigate risk, I would get an umbrella insurance policy.

Hey Amanda.  Welcome to BP.  I too own multiple rental properties in the Tulsa and OKC vicinity and am always looking for more.  most of my properties are in the suburbs and are higher end homes so feel free to shoot me a message if you have any questions or are looking to wholesale.

No. Its not necessary.  All those programs offer is to help reduce one's fear into jumping into RE investing.  Put the money toward RE instead of trying to learn how to do it.

From my understanding, the rule is in place so that consumers do not exploit the financing opportunities FHA provides. They want to offer affordable lending to borrowers that plan to buy and live in their home and not investors. I think your risk is negligible if you plan to live there yourself even though you might not be there very often. I think they just want to prohibit you from utilizing their funding to convert it to a rental and rent it out. If you have friends or family's renting a room from you, again, I don't think that is a problem.

Welcome Krista!  I too have several properties in OKC but have most of my properties in Tulsa.  If you have any questions about the area or investing, don't hesitate to ask.

Welcome Taylor.  I invest in the Tulsa and OKC vicinity and am always looking for good deals.  Goodluck with starting out!

Let me know if you guys decide to put something together.  I'd be game for going and have several friends that would probably be interested in joining as well.  Thanks for putting out the post!

Those Terms are very easy to find in Tulsa and Oklahoma City.  A quick google search should be able to provide you with names of businesses.  Good Luck!

It might be irrelevant where you guys are but its been helpful for me.  I go to the local county courthouse website and search public records.  Foreclosures are essentially lawsuits and in my state you can look up most documentation related to these lawsuits including the mortgage amount, interest, and fees they are suing for.

In several cases identifying the outstanding loan balance has helped me acquire homes by putting in an offer in for slightly higher than their lawsuit, however if the short sale is efficient they might be wise to realize that they have more equity and can sell it for more.  Regardless, its a good starting point for offers on homes for me.

As a landlord with several dozen properties, does anyone utilize publicly traded SFR property rental businesses such as American Homes 4 Rent, Starwood Waywood Residential Trust, Blackstone's Invitation Homes, etc to help gauge comparisons between what us small fish do versus these large landlords?

I personally have found myself sifting through a recent debt financing structure American Homes 4 Rent completed on ~$500M of property guaranteed loans. The structure resembled most of my SFR mortgages, however their terms are not as lucrative as mine are (such as 10yr notes vs my 30yr fixed notes).

Furthermore, I also have spent some time sifting through these publicly traded entities reports and some of these guys are operating significantly less efficient than I am (such as 20%-30% vacancy rates).  I have found these metrics to be tremendously useful in gauging localized market trends since they often report on a per market basis while also providing me insight as to whether or not I am operating efficiently.

Finally, as these public companies are relatively new to the the world I am paying close attention to what they are doing and how they operate... Not to replicate them, but to help identify areas where I can exploit and provide a better solution (such as quicker turnarounds between renters than some of these guys' typical 90+ day average).  Given their size, I see additional costs such as greater regulation, higher management and admin costs, and more rigidity.

I'd love to hear if anyone else is using these public companies as gauges/metrics for their own portfolio's and I certainly recognize that its probably not applicable to many here given that most people seem to invest in flips or lower income properties.