All Forum Posts by: PJ Kolnik

@Rodney Miller What do you see as the primary regional drivers of growth or employment for the next ten years? I'm familiar with OKC's strong oil and gas sectors, but curious to understand why OKC is considered a "recession proof" city by some.

Is crime a major issue throughout the city in your opinion?

Calling all investors and brokers in Oklahoma City.

I recently was presented with an opportunity to go in on a syndication in Oklahoma City, OK. I'm wondering if anyone on here is doing any larger multi-family buy and hold in the Southern Oaks, Parmalee, Taylor Park, Prarie Queen, South Walker, and Highland Community South.

Overall - does anyone have any good insight into the overall strength and upside of the OKC market?

Thanks,

@Derek Luttrell interesting analysis of this area, thanks for posting this as this was pretty helpful to learn about peoples opinions of the area and unexpected costs.

@Henry Lazerow can you share any details about their financing and who they worked with? Also, I'm curious do they plan on putting under property management? If so, who will they be using in this area?

I’m a big fan of leaving the old oak features and incorporating the new white a grey color scheme.

@Prashanth Mahakali what constitutes full demolition? I’d be curious any details you can share about how people build new 3 and 4 flats in the city or refurbish old ones.

Byron most lenders will do an FHA loan, some are more experience than others though. I worked with Aaron's Goesser at Loan Depot and he did a great job.

Hi BP,

I'm working through some cosmetic repairs and painting on a unit with a solid team that can do a good mix of stuff. They were eager to get started and have been very honest hard workers up until this point and they are doing great work.

We got started fairly quickly and while we discussed price, we didn't talk about when and how much they would get paid throughout the project.

My question for BP'ers:

1) Do you reimburse for materials right away if they purchase materials? I don't want to string these guys out with a huge line of credit, but I also want to incentivize them to find better deals on materials and wait until the end of the project if there are exchanges and returns.

2) Do you pay a certain percentage up front (20,30,40%) and then pay the rest at the end of the job? I'm curious to know how people have worked out their milestone payments with their contracting team.

Mark, are you looking for service more in the city or the suburbs?

My father in law has been in real estate in 30 years and basically told me I was crazy if I didn’t loan out as much money as I could in real estate assets while rates were low. Thankfully I listened to him, and while it felt crazy to get heavily leveraged, the buys have made sense and I’m watching rates rise and starting understand what he was talking about.