All Forum Posts by: Cassi Justiz

MOST off market properties are not turn-key. 

Depending on the level of "turn-key" you want, you may want to set your searches up for resell homes on the MLS, remodeled homes from a turn-key provider or even new construction. Everyone has different levels of comfort when it comes to their version of turn-key, so I would decide what level you are most comfortable with and start there.

Hey @Shelby LeBlanc, 

I host the local InvestHER meetup. We meet once a month. It's a little late notice for today, but we are meeting this evening from 5-7pm at Fair Weather Friend. We typically meet the first monday of each month unless there is a holiday. 

You can find our group on meetup.com or FB. Look up Coffee with Investors on meetup as well. It's less formal but usually has a good turn out.  They meet the first Wednesday of each month at the Panera on Memorial. 

It's definitely tough to find a "good deal" through a wholesaler or on the MLS. Typically what we have found is that most wholesalers will either keep the good deals or send them to a very tight network of their preferred buyers. We do find the occasional flip property on the MLS, but those tend to sell FAST and almost always go to cash buyers.

My recommendation would be to get out there and network with as many people as you can. Ask the flippers where they are getting their deals. Some are driving for dollars, targeting distressed sellers, cold calling, etc but very few are buying flips from wholesalers or off the MLS. My recommendation would be to try to figure out a style of marketing that works for you and go for it. You'll probably have better luck sourcing your own flips than trying to buy one from a wholesaler right now.

Hey Gal! Welcome to BP! 

Check out Meetup.com for real estate specific meetups. Coffee with investors is a popular one. Millionaire possibilities REIA is the bigger of the local REIAs. There are several other investor meetups and networking events that happen regularly that you can find through FB events or meetup.com. @Jimmy Ogle hosts an investor happy hour and then there's also at least one multifamily meetup that happens a month. 

@Wesley Mullen, 

I'm not sure if MP REIA is still offering this, but they used to allow you to attend the first meeting for free. I want to say the cost is around $25 per meeting and you get a discount if you get a reoccurring membership. It's worth attending if you are in the position to pay for networking. However, not all of the topics being presented are going to have the same value to you. If you are not sure you want to commit, try to get to one or two meetings with topics that really interest you. Most of the value is in the connections that you make networking before and after the meetings rather than from the meeting topics themselves. If you are not in the position to pay to attend a meetup, there are plenty of free networking opportunities around the metro. I don't know of anything in Norman, but I do know there are a few in SOKC/Moore area. Check meetup.com and look for facebook events. That's where I see most of the events being shared.

Hey @Cary Verner! Yep, I usually do. I don't attend all of them every month but I try to stop by them when I can. The coffee with investors is the one that I make it out to the most regularly, but they're all solid options!

I absolutely would not meet anyone at 11pm at night. I personally operate during business hours and the occasional Saturday morning. 

If they plan to damage the property, it won't matter if you get keys and change the locks out at 11pm on Saturday or 8am the following morning. Your safety is the bigger concern here. 

If you have a spare key, have them lock up and leave the keys inside the house. I've also left a combo box at the property and asked tenants to secure the keys in the lockbox and put the lockbox on the door when they leave. If property is not secured and key is not in the lockbox, then the fee to pay a locksmith to access the property will be deducted from the deposit. 

If you are concerned about your safety, you can also ask for a sheriff to accompany you when changing out the locks the following day. We recently had an eviction and the sheriff met our contractor at the property to sweep the unit and make sure it was secure before he went in. 

Texas is definitely a hot market now. Rentals can make sense, but the property taxes can be really killer. Especially in the bigger cities like San Antonio, Dallas, ATX, etc. 

You might look into smaller towns in Tx or the suburbs of the big metros. The further away from the major metros you get, the more affordable things will become. Is there a particular reason you want to live in San Antonio? You may be able to find more affordable homes with favorable weather conditions in many of the Southern states if you aren't specifically drawn to Tx. Northern Florida or many of the states along the gulf coast are known for lower cost of living and they typically don't experience winter weather. 

It might make your home slightly more desirable than the average rental property, but the cost offset for the tenant isn't likely enough for you to increase rent to recoup the cost of the panels. 

You also won't likely recoup much value on an appraisal or resale for solar in this area since it's still pretty rare (few supporting comps to show value) and the solar payments typically are pretty comparable (or more) than the average electric bill. 

This looks like it was a great first purchase. Thanks for sharing!  My first rental was also a primary that I lived in for about 2 years. 

I wish I had bought in Edmond when I first moved here back in 2015 (but I was young and wasn't sure I was going to stay in Oklahoma at that time). The houses on block we rented on were selling for $120k-$130k and are now well above $200k+.