All Forum Posts by: Cassi Justiz

Of course! I'm definitely still happy to help!

My first property that I rented out was out of state. I hired a PM because I had NO idea what I was doing at the time. She handled everything and was fantastic. Once I got into real estate full time, I decided to self manage my properties locally. After a few years of self managing, I took back over management of my out of state property. We've had a few bumps and growing pains but it's been fine. I know a PM could optimize my systems and handle things a little more efficiently, but once I have a good tenant in place my system runs pretty smooth. 

I'm at the point now that the non urgent tasks seem to get pushed to the the back burner. This has led to increased vacancies and slow turn arounds. I'm currently working with a leasing agent to do tenant placement for me which is one of the tasks that I really dislike. I'll probably do that for a few years as we continue to acquire a few more units and then start handing off units at turnover to a PM. 

There is no right or wrong answer about when it's right to hire a PM. It's more about your comfort level and mental capacity for self management. Do you have the time/energy to continue managing your properties? Are you comfortable enough with your local landlord tenant laws to know what your responsibilities are? Also, could you do something like a hybrid model like I'm doing where you have someone else handle the tenant placement and then you take over after that? There are a lot of good options, you'll just have to figure out what makes the most sense for you. 

There are a lot of people on the fence right now waiting to see if rates go down again. If you don't charge a premium for month to month, that could be a big factor. I've noticed that when given the option, most of my tenants will choose a month to month option over signing another lease unless they are 100% sure they are staying put. 

Especially at your price point and qualifications, most of your tenants could and probably will end up buying a house at some point. Unfortunately for them with the current interest rates, their mortgage would likely be more than their current rent payments for a similar home. If rates drop substantially, I would definitely expect to see this class of tenants be the first group to start seriously shopping again. 

Hey @Cole Robinson! 

Welcome to BP! There are a lot of great local meetups in the OKC area that would be an awesome place to network and meet some local people. 

Meetup.com is a good place to find some of the networking events. There are a few happy hours plus coffee meetups. I didn't see the happy hours on there, but Coffee with Investors is a good place to start! 
https://www.meetup.com/okcreal...

The real estate community here is pretty awesome, you'll definitely be welcomed at any event you attend. 

Hey @Isaiah George, 

There are a lot of great agents in the OKC area. I'd be happy to chat with you guys about where to get started on your investing journey! I would also be happy to refer you to a few of my favorite lenders. Feel free to message me and we can set something up! 

Welcome to the OKC InvestHer group! Pop in on your way home for the day!
This meetup will be hosted at Fair Weather Friend Brewery.One of the main goals of this group is to help support women in our real estate endeavors and be resources for one another.This is a casual networking event with plenty of time to build connections.Even if you can't stay for long, stop by and say hello!

Parking lot is on the North side of 2nd street just East of Klein.

Join us at Frenzy Brewing for a meetup to discuss ALL THINGS financial independence. This meetup is in collaboration with the ChooseFI Oklahoma group. 

Hey Joey! 

Welcome to the OKC real estate space! Congratulations on taking that step into becoming a estate investor. There are a lot of fantastic meetups in the OKC area, so I would definitely recommend getting plugged in to as many as you can!  

Most of the investors around OKC are super helpful, so don't ever be afraid to reach out and ask for advice! We have an awesome community here. 

You are probably going to be better off marketing and finding your own properties in order to make those numbers work. We do occasionally find deals on the MLS where there's enough equity to refi after a rehab, but those are RARE. Homes that are listed on the MLS are typically going to sell at 90+% of list price. I'm not as familiar with Tulsa, but OKC typically sits around 99-100% of list to sales price ratio on average. If the deal is on the MLS, it's being see by thousands of potential buyers and there's almost always someone that is going to pay more than 80% of ARV. If it's been on the market for a while, you might have better luck but typically we don't see sellers start to consider significantly low offers until the house has been on the market for a while. If you find a distressed property and contact the seller directly, you may be the only offer they receive. I would put your energy into finding off market deals or networking with wholesalers. That's probably going to be a much higher ROI activity for you.

Oklahoma City Abstract is a popular one for investors and wholesalers.