All Forum Posts by: Mark Spidell

Small house with lots of potential that is just a short distance to downtown Tulsa.  Hardwood floors are in decent shape.  Includes a good garage.  Some paint and tile will go a long way.  House is undergoing some repairs with painting starting this week.  Lower price may be considered if purchased before more expenses are incurred. 

Zestimate is $49,000.

This could be a good starter home for a single person or couple who is interested in being part of a rejuvenating area.  Lots of renovation going on in the area.

Could be a good rental.  Other comparable houses in the area rent for $700 per month.  

Could be a flip.  Here is supporting comp that is a couple blocks away from downtown:

http://www.zillow.com/homedetails/1829-W-Archer-St...

This comp is in a slightly worse location, does not have a garage, and does not have as much character.

Hi Vicki,

I am a buyer in the Desoto, Duncanville, Lancaster, and Glenn Heights area. If you have a buyer's list, I would like to be added.

Thanks,

Mark

970-948-9474

[email protected]

I love the hustle!  More than that, I love that you are considerate of your wife's risk tolerance and related anxiety.  Keep the communication lines open and you will be ok!  It gets harder if and when you have kids.  

Hi @Bryan Wertz and @Michael Tapia,

I noticed your post.  I have been investing in Tulsa remotely for a while now and happy to have a conversation about the pros and cons.  I got a couple houses in the recent auction and may end up selling one of them since my team already has some a lot of projects in the works.  Let me know if you are looking for a flip.

All the best,

Mark

@Bill S. Some people get excited while watching pro sports.  Fans will jump out of their seats when there is a big dunk in the NBA finals with plenty of high fives to follow.  For me, reading stories like this is better!  I totally jumped out of my seat a bit and am giving you a virtual high five!  Nice execution!  Way to hustle!

I love the way you composed this post and the positive attitude!  I have interacted with a lot of BP fans lately and have noticed many are struggling to find a way to take action.  It is tough for new folks to get started in a hot market.  A non starter deal can have its upside!  

Nice work!  Way to make action!

I echo many of the other posts. This sounds like a good JV opportunity. That type of asset is certainly bankable, but you will need more down and may need more help from a personal guarantee prospective. Let me know if you would like to share some ideas over a phone conversation.

Transferring to a LLC will not free up more FNMA lending. Consider refinancing a few of your properties into a commercial portfolio loan then using FNMA financing on new purchases.

Welcome!  Best of luck!