All Forum Posts by: Lara White

@Account Closed Why are you interested in Arapaho?  It's pretty remote  (even for Oklahoma!), but if there's a reason--that's different.  I don't know anything at all about it, so I can't help you with Arapaho.  If you have questions about the OKC area, I can help; and there's a bunch of us on here that will be able to chime in as well!

@Ryan Williams The conventional loan rate seems a little high - is there any reason (credit, DTI, etc) that it would be that high? Most of my local lenders have been quoting my investors around lower 4% (I don't know today's rates for them exactly), but I don't believe rates have shot up that much in the last few days? I'm not familiar with the Stillwater area enough to give help on that front. What does your local realtor say about it? I've seen that property on the MLS for a couple of months, and I know it has fallen out of contract at least once. Did the agent find out why it fell out for you? Have any previous inspections been done? How long are the renters in there for? (Month to month, or long term lease?) How will you property manage? (someone local, or will you do it long distance) Do you know if it needs repairs (it's a 1940's home)? What do the disclosures say about lead based paint, asbestos, is the electrical and plumbing original or have they been updated? (if they are original, that could be something you need to consider as an expense and will need replacing). How is the roof, and foundation?

@Anthony Ziccardi a real estate friendly CPA is a must have.  Try getting some recommendations for someone in your area, and then go and interview them. See what kind of person they are, do they have a teaching mentality, do they have real estate investments themselves?  Do they charge you for every single question you ask?  How often will they meet with you?

@Lucas Beattie Welcome to the BP forums Lucas! SFRs are a great place to start, I don't know about the areas you mentioned, but a SFR is a good place just about anywhere to start getting your feet wet and learning IMO. What will you do with your SFR? (LTR, STR, flip, etc...) Check out the Cincinnati area forum for some specific meet ups in that area: https://www.biggerpockets.com/...  Best of luck, and make sure to keep us updated on your first deal!

@Anthony Ziccardi Thanks for sharing!  Costs are hard to estimate for sure!  Possibly one of the hardest and most important pieces of any deal.  And I agree that an experienced agent can make a big difference, and particularly an agent who is an investor/or works with other investors themselves.  When I was just a regular agent, I didn't get the nuances that investors really needed.  Thanks again for sharing! Where (city/state) did you buy at?

@Christian Cummings Here is a link to the state contracts that @Chris Mason was referring to:

https://oklahoma.gov/orec/cont...

@Christian Cummings How does your contract read?  It is on an Oklahoma Real estate commission contract? Or is it something else (a contract you wrote or had someone write for you)?

Do you have a realtor that is representing either one of you? (Have you asked them, and they don't know?)

@Nathanial Cook Welcome to the BP forums!  Set up some keyword alerts on here to help you follow topics that you are interested in.  (it's located in the top right between your profile pic and the magnifying glass) on the drop down menu.  There's also a forum specific to the Utah area found here https://www.biggerpockets.com/...

We are an Air Force family too! 

@Sam Mathew No, not so much...  some strategies that might help. 1.) Calling the listing agent (if it's listed) before making the offer, feeling out the agent and the seller.  I'll do this each and everytime it's a lowball offer (what a 75% market value offer is now days!), and actually anytime I offer lower than list price right now.  2.) Only doing this on properties that have been on market for longer than 30 days. If it's not been on market that long...they probably aren't ready to reduce that much.  They still think it'll go over ask!

@Alton Shady I love spotting those package deals on the MLS! You know you have a motivated seller. Congrats on the flip!