All Forum Posts by: Lyall Storandt

@Deborah Burian Where exactly on the county website can one search for permits by address? Is it the ROD / UCC search?

@Deborah Burian Hey Deborah, what's the best way to confirm that? I'm used to comparing the "building square footage" to the "gross square footage" in Realist. In my experience, any discrepancy is typically explained by the garage square footage.

On this particular property, Realist has it as 1,023 sf. w/ a 336 sf. garage, but we know the garage is converted. My assumption would be that the conversion was not permitted since it's still showing as a garage and not as part of the building square footage.

Any tips for OK county?

@Shaun Peterson Hey Shaun, I think the simple answer to your original question about Lincoln Terrace is that people are discovering the value of renovating older homes that are very close to everything. Similar style, but half the price (or less) of something comparable west of 235.

From an investment perspective, most analysis starts with determining an ARV. While it's easy to speculate that a fully-rehabbed house will be worth more than an early-to-mid-1900's built house in distressed condition, it can be harder to prove on paper. You need to be well-capitalized in order to be a first-mover in a transitioning area. Once there has been some verifiable rehab and / or new build activity, that entices other investors who can borrow money based on the sold comps. in the area. Comps. also help owner-occupant buyers in terms of properties receiving favorable appraisals.

One issue with the house on 14th is that there's no garage (as far as I can tell). Appears to be an above-average rehab otherwise. (Photos can be misleading; especially with older homes.)

I agree with Rhett that in older neighborhoods like Lincoln Terrace, there can be a sizable elderly population and a full transition will take time due to father time.

In regards to JFK, an area I'm very familiar with, it will be interesting to see what happens over the next few years. The area has already changed drastically yet slowly over the past 15 years. With the opening of the Page Woodson School redevelopment and construction of townhome-style properties nearby, there's a ton of new development in the area.

Construction cost to build something modern would depend on the builder, but would be in the $110 - $200+ / square foot range depending on finishes. I have a builder contact I can refer to you.

@Nick Hardin Sent!

Greetings!

We have a great new property available in the North Highland area of NW Oklahoma City.

Please contact me directly at 405-361-1341 if you're interested in this property and have a verifiable proof of funds!

Price: $43k

Rehab: $15k

Rents: $850 / month

Square footage: 1,359

Bedrooms: 4

Bathrooms: 1.5

Garage: Converted

Year built: 1961

Greetings!

We have a great new tri-plex available in the Blains area of Shawnee.

Please contact me directly at 405-361-1341 if you're interested in this property and you have a verifiable proof of funds.

Price: $45.5k

Rehab: $65k

Rents: $2,250 / month.

The main house contains two 2/1 units and there's an additional 3/1 unit located in the rear.

Main house (totals):

Square footage: 2,671 sf.

Bedrooms: 4

Bathrooms: 2

Garage: N/A

Year built: 1950

Rear unit:

Square footage: 841 sf.

Bedrooms: 3

Bathrooms: 1

Garage: N/A

Year built: 1950

Greetings!

We have a great new property available in the Windsor Hills area of West Oklahoma City.

Please contact me directly at 405-361-1341 if you're interested in this property and have a verifiable proof of funds!

Price: $139.9k

Rehab: $35k

ARV: $235k

Square footage: 2,490 sf.

Bedrooms: 4

Bathrooms: 2.5

Garage: 2

Year built: 1966

@Dennis Kim Sent!

@Claudia R. Sent!

Greetings!

We have a great new property available just north of The Village in NW Oklahoma City.

Please contact me directly at 405-361-1341 if you're interested in this property and you have a verifiable proof of funds!

Price: $67.5k

Rehab: $18k

ARV: $115k

Square footage: 1,097 sf.

Bedrooms: 3

Bathrooms: 1.5

Garage: 2

Year built: 1961