All Forum Posts by: JJ Gritts

@Tarek Saad & @Sara Cunningham Thanks for the responses, I appreciate it. 

Sara Cunningham Are your properties financed and cash flowing that much, or are they paid off? What area of town are you primarily in Moore/Norman? TAREK SAAD did you find your triplex on mls or was it an off market deal?

Hello Andy,

As others have said, you're off to a good start. You really need to define your goals and your timeline first. When do you want to retire, how much net worth or cash flow are you looking to have to retire, etc. Certainly flipping is great for quick chunks of cash...that is if you can find the deal, and you do your numbers right, and the moon and stars align and well you get my point. It's a job...that pays pretty good if everything works out, but there are risk and wouldn't recommend you start that way.  I truly believe the real path to wealth in real estate is buy and hold. When you look at it, someone is paying you cash flow each month and building YOUR equity in a property. Are their headaches and risk? Sure, just like in any other business or investment, but long term the track record is there. Be smart about it, and look to BP for support and answers. You're doing pretty well for yourself so I'm sure with some time and research you'll put a plan together and pull it off. 

Looks great. Congrats.  Have you decided if you are selling it or renting it? 

Luke,

Echosign is a great tool for the documents. I use it everyday. Others have suggested great options for collecting the deposit. Good luck, hope you're doing well. 

Thanks again for this Paul. I look forward to seeing everyone on the 28th

We are quickly approaching the first (that I know of) Bigger Pockets unofficial meet up in Oklahoma City. I am shocked at the lack of interest that has been shown on this post, but I hope this is still happening. Surely there are more people in Midwest City, Edmond, Moore, Yukon, Mustang, Del City, Choctaw, Shawnee, Guthrie, Norman, etc. (trying to hit some keyword searches here) interested in meeting up with fellow BP members. I look forward to meeting with anyone that can show up. Thanks again  @Paul Choate for taking the initiative to set this up.

Paul, 

Thanks for putting this together. I've been hoping someone would do this for OKC. Looking forward to it. See you then.

Thanks for the input everyone. I tried to get into the property and the current owner wouldn't allow it. So, I think I will just walk away from this one.

I've found a house listed on the MLS since 12/12 for 14k. It says it is currently rented for $500 per month. It is a 3/1 @ 1056 sq ft and rent estimates say it should be closer to $650-$700. I'm seriously considering putting in a cash offer given the stated retal status. I was thinking of offering 8.5k given the length of time it has been listed.....hey they may take it. The listing states I can't get in the house since it is occupied so I'm thinking the offer should include something about the rental records, but I'm not sure what to ask for. Advice and thoughts on the overall deal would be greatly appreciated