All Forum Posts by: Lili Thompson

Hi BP community!

I hope everyone is well.

Since starting this journey a bit over a year ago, I've made a ton of progress and am newly under contract for my first property :) 

I have a small rehab that needs to be done on a property I'm closing on soon. 

Needs about 1,000sq ft of wood tile flooring, dry wall patching in a few places, wood floor sanding and repair, and a few other small things. 

I'm looking for a primarily DIY project, so I'd be interested in finding a lead "consultant" for the project, who would provide expertise and any tools, while I'd provide the labor, materials, etc as well as compensate them for their time. 

Please let me know if you'd be interested in working on this project with me or if anyone else comes to mind!

Lili

Hi all!

I'm working on closing a deal and there's two big things I need to handle!

1) The previous owner didn't collect security deposits from tenants that will be staying and signing a lease with me.

2) The previous owner has "verbal" leases with the current tenants so I have nothing in writing about their current agreements.

Any and all advice is welcome. Thanks!

Lili

Thanks @Michael Thompson, that makes a lot of sense. Do you have any ideas on the % of purchase price/fee one might offer the realtors for the lease option work? 

Hi all, 

I recently made my first ever offer (yayyyy!), but it was not accepted (darn). 

I want to counter-offer with a lease-option structure, but am unsure how to go about it, since I’m working with an agent and want to compensate her for all the hard work she’s done, even if I don’t end up exercising the offer down the road. 

Any suggestions? 

Lili 

Thanks so much for this Clay! I will definitely give them a call this afternoon.

Best,

Lili

Thanks for posting this info Corbin! I’m working on finding a downtown multi-family as well.

Best of luck! 

Lili

Hi everyone,

I'm looking for an investor-friendly CPA in the Tulsa area. I want to form an LLC (taxed as an S-corp) and make sure the I start out in most tax-advantaged way.

Anyone have any recommendations?

Thanks guys!

Lili

Hi Rick, 

I don't have an answer for you on if SFR differs from multi-family in terms of best timing, BUT, I am looking for a multi in the Tulsa area and would love to get some info/numbers from you. Let me know!

Hi Nick!

Thanks for putting up all of these deals.

Can you send me more information on this property please? (Pictures, financials,etc)

Thanks!

[email protected]

Hi all!

I've found a great, cash-flowing deal for two four-plexes that share a common lot. My main question is this:

Is there a way to finance the purchase of the two properties separately?

The seller will only sell them together. They share a center walk-way to the front doors of the units.

Ideally, I'd use an FHA to house-hack the only vacant unit in quad A, and put down 20% on quad B, which is fully occupied.

Any and all info and suggestions welcome!
Thanks!