All Forum Posts by: Dylan B.

@Jacob McCarley Just to piggy back a little on what @Alex Owens had to say.  Its really all about your strategy that you choose.  Those rentals in the lower end sides of OKC or really anywhere for that matter will typically require more management, repairs, and turnover.  Hence the higher cash flow.  The properties that are in better areas tend to attract higher end tenants, from my experience dont require as much management, repairs, and turnover.  These typically cost more to purchase hence the lower cash flow.  

I also would like to meet up sometime to discuss specifics over lunch. 

Best of luck. 

I would also like to get various perspectives on this.  I have a few duplexes that I am wanting to do this strategy with. 

This is a business and you should treat it as such.  Don't stray away from the policies that you should already have in place regardless of if the tenant pays on time or not.  If you "let things slide" you are setting a precedent with your tenants and they will expect it the next time.

@Tim Kaminski You can obviously make a no pets policy for your tenants and have a dog, however that makes you seem somewhat hypocritical. 

Whatever route you take (Pet Friendly/No Pets) just make sure your lease clearly states it. 

@Mayer M. I would agree with Nathan on this.  Yes it can be very beneficial to all investors to have their Real Estate license.  You just need to weigh the reoccurring annual costs, vs the saved time and money.  In my state it is a few thousand dollars in order to get started, and a couple thousand annually.  (depending on what type of brokerage you work for and how much advertising, etc...)

I would have to agree with @Aaron Mazzrillo on this one.  However I hear a ton of people on the podcasts mention ListSource for gathering that data. 

@Grayson Graham

What the others have suggested is what I would do, just have her sign form stating the condition of your situation and you should be good. As long as it is all in writing.

@Eric Gross

The numbers you show seem very reasonable and doable.  I dont know how your market is, however in my market, we typically only supply the range, dishwasher, and refrigerator. 

Definitely have a home inspection done and see what all problems there are, if any.  I typically with have a foundation company come inspect the property as well.  They do it for free. 

Hope that helps. Good luck.  

@Nick Parks I would just reiterate Kyle's suggestion, also if you are a new landlord, a good book to read is Brandon & Heather Turner's The Book on Managing Rental Properties. 

@Bob Houston Definitely have replacement cost.