All Forum Posts by: Jason Garder

Hey David - I'm a realtor and investor here in OKC and have helped a few clients do this same strategy of buying a duplex to house hack. I personally think it's one of the best ideas for a first time home buyer. I'm helping someone currently purchase a duplex with a FHA loan so he is getting into it for only 3.5% down which is pretty amazing for what you are thinking about doing.

I'd be happy to talk on the phone if you are interested, there is too much to type out here on the subject but just let me know. Shoot me over a DM if you want!

Hey Caleb, I'm an investor and realtor here in OKC and would be happy to help or answer any questions you may have. Shoot me a direct message if you are interested and we can set up a time to chat.

@JD McKelvey I've got a few lenders I usually recommend in the area. Send me a PM if interested and I can shoot them your way.

@Edwin L. El Reno offers fairly inexpensive real estate and still solid rent returns, it's roughly 30 minutes from OKC so close enough for people who just want out of the bigger city feel. I'm a realtor and investor in the OKC metro so if there is anything I can do to help let me know.

@Yulya Marucya I think Midwest City is a good market to invest in rentals but wouldn't recommend Del City, they have some pretty strict regulations when it comes to rentals that would be on top of section 8 regulations. One thing that makes Sec. 8 attractive is alot of times you can get higher rent than a regular long term rental. I have a few rentals that I rent section 8 in OKC and my rent is anywhere between 10-20% higher on those. I'm a local realtor and investor so would be happy to help if there is anything I can do for you.

Thanks for all the responses everyone, a lot of good things to think about. I agree that $3200 is not enough per month to have the deal work. For the above deal, what amount per month would it take for it to work in y'all's opinion? And what kind of margins as well?

This is my first post here on BP, although I've been reading on here for the last couple months or so.

I am in the process of trying to find financing for a Quadplex deal in Oklahoma City and I am having some issues finding a loan that seems like it could work based on the numbers. Can anyone shed some knowledge or advice on different places I should be looking? I was hoping to get an FHA loan and the numbers looked great but we weren't able to get it in place. I need financing for $360,000.

This property cashflows immediately and rents for $800 a unit for $3200 a month total. The FHA loan that I had hoped for would have been about $1750 a month plus another $500ish in insurance and taxes. Can anyone tell me if they think that type of loan should work and I should look at another mortgage company or if it makes sense on why it didn't?

The commercial loan that I am looking at now is for a 5 year Fixed/ 20 year AM at 5%. Payment would be $2375 a month plus the insurance and taxes. Does this make sense to do?

This is my first real estate investment deal I have worked on so am still new but eagerly trying to get started. Thanks!