All Forum Posts by: Josh Doering

@Mathew Wray and @Cassi Justiz, thank you both for your thoughts about this situation. I agree with you both.

We've decided to get the house completely ready and hold tight until this blows over. 

That is correct, we bought it a few years back with the intention of just living in it and possibly selling it, but I feel like it could be used as an asset instead.

I think that's my main concern is getting a renter in, moving and then not receiving the rent payments at all because they were let go from their jobs. 

Thanks for the response, @Colleen F.!

Hello, guys! I wanted to get some advice on how to proceed with trying to rent our first rental property, the house we bought a few years ago.

A little backstory for clarification: 

My wife and I live in Yukon, OK. We both work from home as freelancers, and for the most part, our income isn't too affected (yet). We've owned the house for 5 years and have worked hard since the end of 2019 to get it ready for renting. 

We've planned on moving to Portland, OR because we love that area and worked hard last year paying off all of our debts so we can live comfortably while building our portfolio. 

After crunching the numbers, we found the rental price will need to be pretty high for the market in order to cash flow, which I checked with realtors and the management team to confirm it would be possible.

Our plan was to rent it out April of this year and moving to Portland, OR (we have a property management company selected and onboard already.

I just looked at Zillow this morning and found there are only a few properties listed for rent, and at about half what we would need the price to be to cover the mortgage.

With the uncertainty of what's going on in the world, we're at a loss of whether it's a better idea to do one of these three options:

1: Proceed as planned, put it on the market, try to rent it and move to Portland in April/May

2: Rent it, find a cheap apartment in OKC and live there for 6-12 months and revisit the Portland plan later this year

3: Put renting and the move to Portland on hold altogether right now and focus on work right now.

Any advice would be helpful. We're looking for the best decision we can make with the asset and our funds right now. 

Thanks! 

Hey everyone! My wife and I are thinking of renting out our primary residence and moving to an apartment to start our portfolio.

We have an HOA in the neighborhood and I'm not sure if that would pose any issues with renting it out.

Any advice or past experience would be most helpful!

@Anthony W. - Thanks, man! I appreciate the connections and info! One of my friends owns several properties in Lawton. I'd like to grab a beer with you and chat about real estate and partnering up sometime. Good luck with your move!

@Alyssa Dyer! I'm happy to connect with you as well. :) What are your thoughts about flipping in the OKC area with HM? I currently own my primary, which I've considered turning into a rental in the future.

Hey, everyone! 

I'm new to the world of investing and have a lot of questions. That being said, I have purchased a few BP books and have been absorbing as much podcast info from BP, Savvy Radio and Youtube.

At this time my wife and I have an awesome realtor who's showing us potential BRRRR options, and I'm getting involved with the local real estate group. I'm looking at different hard money lenders right now as we don't have 20% capitol saved up to drop.

Does anyone have experience with specific HM options, partnering with new investors or other ideas for raising capitol to buy and hold in OKC?