All Forum Posts by: Jesse Jackson

Hi @Bob Malecki

Please PM the details.

Thanks,
Jesse

What an eye opening experience. The property needed a roof, major plumbing and electrical repairs, total kitchen and bath rehab, had severe dry rot, and water damage. And that's just what I noticed in the first few minutes of walking around.

I asked what the seller's lowest price would be. He hesitated for a few minutes and said he needed to speak to his father. I thanked him for his time and left.

About 20 minutes later, he called back and asked if I wanted to buy the house as a rental. Because if so, he had another rental to sell and would sell me BOTH for $43k. I told him to send me more info and photos, but if it's remotely like the first property, then I wouldn't be interested.

We will see what happens.

@Shawn C.

 Thanks for the encouragement. It's easy to forget that sometimes. We'll see how it goes!

Shannon,

I just got to town last night, and would love some GC and sub referrals. Please DM me if you don't mind.

How did you end up buying properties in OK?

@Brooks Rembert, thanks!

Trying to do as much homework tonight as I can. It feels like I'm cramming for my first exam in college all over again! :)

I've decided to jump into the deep end of the investor pool. I have purchased and sold a couple primary residences before, but this is my first time as both an investor and FSBO.

If things go well, I would use it as my primary residence until I finish some necessary bathroom repairs. He mentioned on the phone that the house had been rehabbed excluding the bathroom. Then I intend to hold it as a rental after I find and purchase my 2nd investment property. The asking price is $32k, and rents in the area are approximately $700-$800. My primary residence in CA is listed for sale now, and I will have plenty of cash when it closes.

Just looking for general advice, questions for sellers (especially FSBO,) how to effectively lock the contract up pending the sale of my primary residence now, and any other advice/information you may like to volunteer.

Please let me know if I forgot to include any critical information - I'm still learning a lot.

I'll keep everyone posted on the progress.

I am currently looking in the west Tulsa, Sand Springs, and Sapulpa areas. But I'm open to other areas if it make sense.

Do you also invest in addition to being a property manager?

Travis, Thanks for the info. I've already reached out to the Tulsa REIA. Next meeting is this coming Thursday. I wasn't aware of the flipping shows - I don't have much time for TV these days. :)