All Forum Posts by: Cassi Justiz

Hey @Dean Kaeo,

I would be happy to visit with you regarding Oklahoma investing. I'm not a turn-key provider, but I can help you source turn-key style properties. 

Feel free to reach out if there is anything I can help with or any questions that I can answer. 

Chances are, FHA appraiser will not look at the foundation unless it is super obvious. They are mostly looking to make sure the house is safe, secure and live-able. They will be looking for things like can the windows and doors open, do the appliances work, does plumbing work, are there any safety issues, etc.

If you write something into the contract, then the appraiser is going to be looking at it. If you just do a generic "reduction of purchase price" agreement then it's less likely going to be called out on the appraisal than if you do a "reduction of purchase price to allow for foundation repairs."

Hi @Shane McBride, 

If you are looking at a property that you don't plan to live in, you are almost always going to have to put up 15-20% down for a conventional loan. Luckily there are other options, but they do make it a little harder as a new investor in today's market climate. Your best best is to try to find a small community bank that offers great terms for real estate investors. Sometimes you can tap into their commercial financing department and find loan options that will loan based off a percentage of "as repaired" value instead of a percentage of purchase price. 

Network with the investors in your area and see how they are doing their financing.  There are options that don't require 15-20% down, but they are definitely harder to find. 

I would go back to how your lease is worded and your documentation. If you are using a pretty standard lease, I would say it's probably worded that the security deposit is returned at the end of the lease or at move-out to forwarding address provided. If it's not worded that each roommate receives x% of the security deposit, it's most likely a civil matter and they can work it out with each other. 

I don't do partial security deposits on the receiving or refunding end. I collect the entire security deposit prior to move in and issue one receipt. I also only refund the security deposit at move out after the final inspection has been complete. I let tenants know ahead of time that we will issue one check and it will be sent to one forwarding address. It's up to them as adults that are legally capable of renting a property to figure out how to divvy up their returned deposit.

You'll probably want to double check with an attorney that knows your local landlord/tenant laws just to make sure there wasn't something in your lease or local laws that does entitle him to his security deposit. 

Hi @Barry Truong, 

Welcome to Bigger Pockets! It's always exciting when we see people starting to think differently about wealth building. I (obviously) am a big fan of real estate investing. I think investing out of state is a great option for people that live in these really high cost of living areas. 

I would say to start narrowing down what you are looking for as far as rental properties, returns, type of area, etc and then try to find a market that fits that criteria. There are a ton of affordable markets, you'll just need to find a team that you want to work with and go from there! 

I would say some things that you'll want to consider are population growth, local economy and employers, and state/local property taxes. 

Hi @Daniel Sosa, 

We have several young agents at the brokerage that I work with. One of the best tips that I heard was to know your market and dress professionally. If you are working an open house and someone asks you about the market, they're not going to question your real estate abilities if you can tell them everything about the house and market that they want to know. They may question your knowledge if you aren't able to basic questions like what is the HOA fee for this neighborhood, average days on market for your area, average price per sq ft, etc. But if you can confidently answer their questions, you'll be quick to gain trust!

Just do your homework, network as much as possible and talk to everyone that you can about real estate. Eventually you'll get some momentum and it will start building up. If your broker or MLS board offers trainings, attend every one that you can.

Hey @Anthony Murphy, 

The pricing in those areas may be pretty heavily dependent on contractor availability. A lot of the contractors in the metro areas are backed up right now, so I would imagine the small towns are experiencing similar situations. 
I'd try to get in touch with property managers and investors in those specific areas and go from there. They can put you in touch with the people that specifically work in those areas. 

You may have better look on Facebook in some of the "oklahoma investor" and "oklahoma wholesale" groups. If you search for them, you'll come across several facebook groups. Most of the investors on there are still going to be based out of the major metro areas, but you'll at least have a broader reach and better chance of connecting with someone that knows those towns and can help with your rehab numbers.

Hey guys! Welcome to BP! Just like @Will Fraser said, it's always great to have more people active in the community. 

Definitely look into some of the local real estate investor meetups. I don't know that the REIAs are meeting in-person yet, but I think some of the Happy Hours are starting back up! 

If you go on meetup.com you can usually find quite a few solid options to network with other OKC real estate investors. If you ever need any help, feel free to post on the local forums. We have quite a few active members on here that have great insights into the local market. 

Hey @Corey M., 

I really like Sooner Home Inspections. They are super thorough with their inspections. (Sometimes a little too thorough, but I'd rather it that way!) His reports are really interactive and you get a lot of pictures, videos and additional details. 
They don't do the termite inspections, but they will coordinate the termite inspector to come at the same time and bill it all as part of the home inspection. 
https://soonerhomeinspection.c...

Thank you for the mention @Cleotha Euwins and @Blake Billings! 

I'm always happy to help in any way that I can!