All Forum Posts by: Curtis Yoder

Welcome to BP and back to Tulsa @Amber Masters. What area do you practice in? I am a buy and hold investor primarily in Tulsa so if you need any assistance please reach out.

The PC answer is to run from it. The vast majority of people will pass on this kind of property. Somewhat understandable... but you don't know what has happened in most houses over the years. Don't fool yourself into thinking every investment home in the portfolio was full of unicorns and flowers. 

You are in RE to make money. This could become a good investment due to the large number of people that simply say they would not consider it. Although the past was tragic you could give the property new life. Renovate, paint, fix, make it a home again. It will be difficult to sell if you are simply flipping it but a buy and hold should take the pressure off after several years. 

I would personally bring in my Pastor and have him bless the property, a personal choice for me. Move on and rent it, the home will be happy to have a new lease on life.

Little tight on the numbers but you are doing more than most! Jump in and swim. Real Estate investing is extremely forgiving... that is if you have time. Regardless, that is not a horrible deal and you will make a few bucks. I prefer to amortize properties over 15yrs and try to stay less than 70% LTV. That keeps me from getting surprised during market downturns and also ensures that I have equity to play with should a need arise.

Congratulations on your first deal! Start swimming! 

Need someone that can take photos of our projects both residential and commercial after we are done rehabbing. Typically, we would like to see 15 to 30 good photos for our use in marketing the properties. We are on a limited budget for this line item so looking for a long term partner in this respect that is not trying to retire on one or two jobs. What we used to get done for $100 our guy just quoted $600 because he is busy. Good way to not be busy is what I told him. 

Just posted this a day or two ago for my Tulsa properties and met some great BPer's that can help me. So, I have a couple of properties in the Central Florida area that need photography as well. Any references would be awesome. Thanks!

Thank you @Dakota Hadley, I will reach out to them today.

@David Parker Look for a PM from me to discuss as well.

In search of a photographer that can take photos of properties after we renovate them. Additionally, I would like some headshots done of our REI team.

We do manage our properties ourselves. It was a challenge to keep up as we began to grow but we are on top of it now. We have started using Buildium for the management side and subcontracting out the majority of the work rather than handling in house. As a contractor I really like to get my hands dirty sometimes. This typically costs me TIME... which is the root of all evil with rentals! I have a great realtor that I will be glad to share, PM me. As to the Property Manager I really don't have anyone to recommend.

Sounds like you are in a great position to leverage your HELOC to create some additional wealth. If you pick up additional rentals, with good performing numbers, the risk can be limited. Simply keep yourself at a 70% ltv or lower and that will in essence hedge the market in case of a downturn. Worst case scenario you are sitting with cash flowing properties in a down market. The most valuable thing you have in real estate is TIME. And if you are sitting and waiting on a great deal to come along, or for the market to soften so you can make a move, you will be losing out on your biggest asset. The appreciation and wealth creation of real estate performs best over long periods of time. Take advantage of it because we only have so much of it! Just my opinion...

@Jacob Tomko Definitely go to KC... lol. Seriously, I have quite a few SFH's in Tulsa and the cashflow is decent. The appreciation is lagging many other markets and I believe it always will. So you simply have to look at your deals and decide if the cashflow or appreciation is more important. I personally plan on retiring in Tulsa, my hometown. So good cashflow and slow appreciation works for me. With smaller industry here in Tulsa it is more difficult to flip properties for top dollar than in more robust cities.

Plan your work and work your plan! Good luck to you and feel free to PM me if you would like a more in depth conversation.