All Forum Posts by: Jonathan Safa

Happy Fourth of July to all you happy investors out there. Thankful for the men and women that have gone before us to create a path of freedom that we might experience financial freedom.

@Colt Clark I am, yes. The course I took had several practice tests included with it. 

Just keep taking practice tests. Understand the ability to test-take. 

I did the 90-hour coursework, studied, and completed the test in about 10 days. That's not going to be the case for everyone, but I wouldn't call it a very difficult test. Make sure you are ready before heading into that exam room, would hate for you to waste the extra 60 bucks. 

Tyler Beers go through and listen to Chris' podcast. Episode 197. I shared the link. He runs through numbers and breaks everything down.

Tyler Beers there's a lot of great activity in the Midwest. Specifically high rent-to-values. I'm beginning on a strategy in Tulsa, Oklahoma based on something another BP member, Brian Stieler (a great contact for you to have by the way), and I are proprietarily calling the "Heeren Method" (copyright pending). Based on Chris Heeren 's method from Bigger Pockets Ep #197. https://www.biggerpockets.com/renewsblog/bp-podcast-197starting-10k-buying-52-units-3-years-chris-heeren/ Essentially, it's based on a zero-appreciation, cashflow-intensive model. The general idea is to feel comfortable buying cheap properties in B-, C+, C neighborhoods that are going for dirt cheap, yet still rent for higher values. If I recall, he is doing this outside of Madison WI, and Brian has successfully started this model in Michigan. I have found a few neighborhoods in Tulsa, Oklahoma that will be able to successfully apply this model. You're still BRRR'ing the property. But you're buying the properties cash into your LLC, rehabbing, then cash-out-refi'ing using a business mortgage 5/1 ARM. Also, typically you are using a small local/community banks or credit unions. And you're having to do the business 5/1 Adjustable Rate because banks typically won't do a Cash Out Refi on a property owned by your LLC with very little seasoning. Using the Heeren Method, because of how well the properties cashflow, you're keeping your Debt Coverage Ratio higher than the banks require. Thereby, every property you purchase, you actually become *more eligible* for future financing. Banks typically require a DCR of 1.2, the Heeren Method employs DCRs of anywhere between 2-3. An example of this is a property I'm about to purchase at $47k, will require about $5k of rehab work, and rents will go for around $800/month. Cashflow will most likely be around $350/month, and my DCR will probably land around 1.6-1.8. Would love to talk more of this over. Connecting on BP with others is really a great thing. Hit me up brother! Blessings.

Bought a manufactured home that was half-rehabbed. The last guy did a terrible job and sealed off all the ventilation to the crawlspace. I've ripped out 30% of the walls, have treated the home with bleach, borax, and an 03 machine, but I want to ensure the house is mold-free before I list on the market. Is there an inspection in Tulsa, Oklahoma willing to come out just to crawl under the home, and take your moisture Device and help me identify other areas where there may be mold growing? Thanks!

@Jamison Haussman, nah nah, seems pricey. 

You get what you pay for, but in the end, it's property management, not rocket science. 

Better deals are out there. I'll keep my eye out here in Oklahoma and see if I come across anything. 

I ain't no professional, but I got a paint bucket and some free time! 

Do you have access to the MLS?

I use Realist for all my property research and sending letter campaigns. Great, up-to-date information on homeowner history. Can really tell you what to target. 

@Deren Huang such great information. Looking forward to these Oklahoma REI clubs!!!