All Forum Posts by: Josh Chappell

Great Job! 

What type of permanent financing did you get? Commercial? Residential? 15/20/30? 

Blake Wimsey at Foundation Insurance. He does all my personal and all my real estate here in Oklahoma. Independent agent that can quote from multiple companies. Private message me for all his contact info. 

I use Blake Wimsey at Foundation Insurance. He represents a lot of different insurance companies and can shop quotes and coverages for the best price/value. He does all of our rental properties as well as my personal stuff. Give him a call.

I'm currently looking at a few older multi-family properties in the Oklahoma City area. What are the current CAP Rates in the area for older multi families and how would I find this out if not for this post? I am currently evaluating 12-24 unit deals. Any help would be appreciated. Thanks

My advice would be to find a reputable insurance agent and talk with him about your plans for insurance. 

I have a friend who is in insurance that knows exactly what I'm looking for to insure my rentals and therefore can get me a very accurate quote. Also, if you are continuing to buy the same types of deals, around the same price range, and in the same area, your insurance costs will typically be around the same price so you can quickly estimate and pull the trigger on a deal. 

Message me if you would like my insurance agents contact info. He would definitely help you out in any way he could. 

They are vacant and have been for 10+ years and need a lot of work.

I spoke with the permit office and they said that the building would have to be brought completely up to code. Between the city and other investors and quotes I have been getting for fixing all the code issues and the fire suppression system, it kills the deal. 

Just wanted to see if anyone else has bumped into this issue and had anyone they new I could chat with about it in detail before pulling the plug. 

I have found an 8-plex that has been vacant for around 10 years. My partner and I are getting numbers together for a potential offer and have come to a stand still. Here is the problem. 

All meters are pulled and the city has told me that the building has to be brought completely up to code and have a fire suppression system installed. I have called around for potential pricing on these things and it seems to be like finding needles in a haystack. Could anyone point me in the right direction as far as code enforcement and pricing goes and fire suppression system pricing?? Also, I'm wondering if anyone knows a commercial window guy that I could get a quote from, that would be awesome as well. Thanks as always.

I have found a property with good equity that is currently in the foreclosure process. I would like to take ownership BEFORE it goes to the county auction where there will be a lot of competition. Do I contact the seller directly? How does this work legally? Any and all information would be beneficial.

I am currently looking at a potential land development deal. I have absolutely NO prior experience in pricing out the cost to develop the road/water and preparing for sell to builders. I know the area well and am confident in its location but I am completely underwater when it comes to knowing how to price out all the potential costs. Thanks in advance.

1. Concrete VS Blacktop -  What are the pro's and con's? What are the going rates per square foot or yard for the concrete or blacktop?

2. What do I need to get together for the water? Its on rural water.

3. What other main factors should I consider?

I'm looking to find a realtor/investor who has some knowledge about rentals around the University of Central Oklahoma and Oklahoma State University I would love to sit down for coffee or just chat for a few minutes over the phone and pick your brain about student rentals in that area. I currently am working on deals in Guthrie but would love to get into the Edmond and Stillwater areas. Any help would be awesome. Thanks