All Forum Posts by: Cody Reed

@Chad Kinsley Think about your price points, like what your max price would be and what you'll want to put down. Then you can start working the numbers because at the end of the day if it don't make money it don't make sense. I agree with @Doug Spence turnkeys are a good entry, or at least a house that doesn't need much to be rent ready. Sometimes getting that good deal that needs works turns into more work than expected in many ways, and as for your first deal I don't recommend that. 

Dustin, if you're actually boots on the ground here in Tulsa then I recommend checking out the monthly REIA at the downtown VFW. I think the next one is next Tuesday the 9th.

Owen, do you own the house you are living in? In the Tulsa market, considering that's were you are trying to start with investments, you'll likely be able to purchase a property with the 3.5% FHA and have a mortgage cheaper than rent. That will allow more month to month savings. If you already own your home, consider a cash out refinance for an investment down payment. I'd only consider this if the numbers make sense. If there is a will, there is a way.

Allen, it seems you’re analytical and have done some homework. I’m an investor and agent in the Tulsa market, and feel it’s a great place. Every city has their ups and downs. As a whole, the Tulsa metro area is very nice. Fell free to message with me more if you have any more questions, I’ll try to help.

Investment Info:

Hi Tom, I’m interested. Name a time and place and I’ll try to make it!

As I embark on the purchase of my first single family rental property, I am questioning every move that I am about to make. The most concerning for me is will my property turn over in a timing manner and at average rent price. I am in the Tulsa, OK market. I'm confident with my knowledge of the area, price points, and how to cash flow. I just can't stop thinking about all the available doors for rent as I drive my daily routines. I have compared a few cities with Tulsa using realtor.com and zillow, and have found consisted quintiles of rentals available per capita(I know there are more available properties and this has flaws in comparison). Also I have read a couple of the HUD analysis with only little knowledge gained from those.

My thought on this issue are the obvious ones, I could have a better product to offer at a lowest price. In my mind I know I can offer that and still cash flow(it wouldn't be something to brag about) but that is not why any of us are into real estate. As a newbie I have the conservative mind set to this and plan for the worse of out comes.

So I ask, how do I determine if adding ANOTHER single family rental is no big deal? Once a hard yes is established how do I break the fear of what I explained previous? If there should not be more rentals added to the market should I get with a network of local real estate investors and try purchasing property from someone?

Thanks, Cody