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All Forum Posts by: Jeff Filali

Jeff Filali has started 138 posts and replied 993 times.

Post: Houston Insurance INSANE!

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

Check with REIGuard out of Kansas City, I use them on all my investment properties and they're great to work with and have great rates for investors.

Post: Trying to get into wholesaling in AZ. Where should I start

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

Almost every larger city has an online gis map that provides the info.  Just google gis map "your city"

Post: Looking for insurance on 4 SFH rentals in Cleveland area

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

Contact REIGuard out of Kansas City, they're great to work with on investment properties.

Post: Profit and Loss statement

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

Sure, its part of your due diligence.  If they want to sell, they should be open with their records (P&L, Rent Rolls, Copies of Leases, etc) for past two years at least or however long they've owned it if less time.  But they'll typically require a POFs first.

Post: Attention Wholesalers: Beware!!!

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

Wholesaling is an EXIT strategy, not an ACQUISITIONS strategy. But many, many broke people are trying to use it as an acquisitions strategy.

If everyone was honest and fulfilled their commitment to homeowners it would not even be an issue.  The issue is there are so many gurus out there teaching broke people to become wholesalers, and more and more homeowners are being screwed over by the wholesalers who represent themselves as "cash buyers" when they have no intent or ability to close, they're only intent is to try to wholesale to an end buyer and if they cannot they walk away by using escape clauses that were never intended for that purpose.  

I've purchase several properties from homeowners who were extremely desperate after a wholesaler came in and contracted to purchase their home, and they in turn felt the sell was going to happen because the wholesaler promised to close by set date, and then the homeowners turn around and purchase another home to move to, and then the wholesalers are unable to find an end buyer and had no ability to close in the first place, so the homeowner gets stuck with two properties, or two mortgages.  That's a problem that needs to be stopped.  And if that means all wholesalers have to get licensed, so be it.  There needs to be something in place to protect all parties involved.

My 2 Cents which ain't worth a penny!!

Post: Pick my Brain ( biggest request i get on BP)

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

Thank you @Jay Hinrichs for always giving back!! #PayItForward 

Post: Any Investors looking to buy outside of Tulsa?

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

@Cheree Harris At $10K plus $2500 in closing plus even $10K in repairs, that's $22,500.  The Windows alone would probably be $3K-5K. Add in paint (in/out) and new flooring, which I do both on every property I buy before renting them, that's at least another $5K.  Plus we all know there's probably other needed repairs.  If it was a 3Bed maybe, but being a small 672 sq ft 2 Bedroom, there's no way.  The most I'd consider would be around $7K tops and I'd have to send my GC to confirm repairs first. 

Post: Any Investors looking to buy outside of Tulsa?

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

All I need is the address and repair needs cost.  I don't depend on others for comps. 

Post: Any Investors looking to buy outside of Tulsa?

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

@Cheree Harris I buy all over Oklahoma, and own other rentals near Bartlesville.  Send me the details, and depending on repair needs, I may be interested.  

I pretty much buy SFRs priced below 65% ARV minus repairs or below 50x monthly rent minus repairs and anywhere within the following:

  • Within 25 miles radius around OKC Metro
  • Almost anywhere in NE Oklahoma
  • North and East of OKC along I-35 and east to Arkansas state line, along I-40 and north to Kansas state line.

And will look at Multi-Units (below 50X monthly rents), Commercial Properties, or Acreage ANYWHERE in Oklahoma or Surrounding States. 

- 4Lease4Sale

Post: Moving to Tulsa, looking for real estate agent recommendation

Jeff FilaliPosted
  • Rental Property Investor
  • Broken Arrow, OK
  • Posts 1,144
  • Votes 1,140

I'm NOT an Agent/Broker, but I am a local investor who lives in Broken Arrow, which is suburb of Tulsa.  As for recommended real estate agents, there's several BP members who are experienced realtors/brokers in Tulsa areas. is the first one who comes to mind, and he's highly involved in Tulsa REI, being an investor himself, if he cannot help you, I'm sure he can definitely recommend someone and will also have GC and PM contacts for you.

Good luck and welcome to Tulsa!!