All Forum Posts by: Michael Tapia

I have a meeting with my CB broker and will explore other options with smaller brokerages.

Thanks.

Hey everyone,

I am a newer investor in Tulsa and I went the route of getting my Real Estate license while I get started. I'd like to keep the license as I continue to work with investing as a part-time venture.

Currently, I have my license under Coldwell Banker Select, but I find that the monthly charges are expensive and I don't really utilize the marketing materials and such that are included with those dues.

Can anyone point me towards a broker in the Tulsa area that will let me hang my license but not break the bank? Further, would the general investor population on here recommend that I discontinue my license, or is it worth keeping now that I have it? My last two deals have been off-market and not required my license besides the knowledge I acquired by taking the necessary courses.

Thanks

Hello Landlords and Property Managers of BP,

I have been working on a research project for a while to look at how common and alternative screening methods predict different aspects of what I'm calling Tenant Performance (including Payments, Vacating, Maintenance, Cleaning, Interactions with Landlords, and Causing Damages). I have collected some initial data and presented on research that is based on tenant self-reports, but I am now interested in getting real-time business data.

I am looking to collaborate with a larger scale landlord(s)/property manager(s) who are interested in helping me collect unidentified but matched data on screening outcomes, screening decisions (acceptance/rejection of tenancy), and basic questions about how the tenant behaves and your view of them as a good/bad tenant.

My hope is to build a data collection process into at least one, but hopefully a few, screening processes, and collect data over a year, resulting in a research presentation/paper I can share.

If anyone is interested in talking more about this, please PM me. I enjoy conducting research studies like this and hope that others may find this interesting as well.

Thanks for your time in reading my proposal.

Best,

Michael

What I can provide:

-Complete support in data collection and building out the method/process, and consent forms.

-Results at the end of the study regarding what predicts performance and what doesn't for each of the performance variables. This, hopefully, can provide some insight into what to look for when screening tenants. For example, if you are interested in only gathering rent, then Credit Score is probably going to be a good tool to use. However, my initial research shows that Credit Score doesn't do a great job predicting other performance variables, such as whether the tenant is easy to work with, maintenance behavior, and so forth.

What I need help with:

-Implementing a process for collecting screening data during your screening processes.

-Outcome data (how tenants perform at time intervals during their tenancy).

-Properly matching the screening data and outcome data for use in analyses. I do not want to identify any applicants/tenants. This is for research only and I need your help as the landlord to keep this data confidential.

My background:

I am an IO Psychologist that works as a Research Consultant during the day, and a real estate investor on my own time. I work on research projects like this at my day job and I'm interested in merging this type of research with my investment interests.

Can't make it tonight unfortunately. Hope you all have good discussions and @Ryan Ahlgrim, maybe in future meet-ups we can put together a contact list that we can build out in Google Forms or something where we can share our information and good local contacts (lenders, CPA, etc), contractors, skilled labor etc. I know that there is a number of expertise represented in this group that is meeting up consistently and figure it may be good to have a more local list of contacts who are willing to answer questions about a specific topic, etc.

Just some thoughts, have a good time!

@John Kunick

Would you be willing to share your CPA with me as well. I recently started an LLC and began my real estate investing and have been looking for a well-versed CPA to guide me.

Thanks a bunch!

@Brian Pleshek

The tenant is month to month. I'm thinking that keeping the tenant is probably the best option if it can work out. I may need to get some views from the tenant(s) to see what direction to take.

Thanks for the feedback.

@Chris T.

Definitely an interesting idea. My goal is to buy and hold, but that is an option I'll consider.

Perfect. That's what I was considering, but wasn't sure how to go about it. I appreciate the quick and straight forward response.

Hello everyone, I need some advice on how to handle a situation involving a potential property I'd like to buy and hold in the Tulsa area.

The price of the home is relatively low for the cul-de-sac in which it is located, and I think I could have a decent rental and build a good amount of equity if I were to pull the trigger and do a rehab.

The issue I am having is that the tenant does not want the house to sell. This is because the tenant wants to purchase the property and because they can not qualify for a purchase, the landlord/owner told them that if it doesn't sell they would work with the tenant to do a contract for deed. Therefore, the tenant is supposedly extremely difficult when it comes to showings and doing inspections.

The tenant has been there for 4 years. I am interested in this property, however, I do not want to go into a situation where I'd have to deal with a vengeful tenant or potentially be forced to evict them.

Any suggestions on how to handle the situation? If you have any questions about the situation, please let me know.

Thanks.

Hey @Jason Windholz, thanks for the info.

Can you please point me to more information on the Tulsa REI meeting, such as location, time, etc. I'm interested in trying to make it out there for the first time.

Thanks,

Michael