All Forum Posts by: Jeff Filali

Welcome to BP from another OklaHOMEa REI!! Let me know if I can ever help, always looking to network with other REIs in our area. Look me up at 4Lease4Sale

Add me to your list.  You can look me up online at 4Lease4Sale dot com.

Purchased another "fixer-upper" out of foreclosure today in a small town in Oklahoma. I think I'll keep this one as a rental. Trying to start keeping some of these super cheap deals I find to build long-term passive income.

Details-
3 Bedroom, 2 Bath, 1464 sq ft

Purchase Price: $6,750

Est. Repairs: $15,000

ARV: $48-55,000, but should easily rent for $600-650/mo

Comps: $41-$58,000

On to the next deal!! 

Welcome to BP from another Okie REI!! Always looking to network with other REIs in OklaHOMEa!!

Purchased another "fixer-upper" home from a foreclosure auction today in Norman, Okla., only 1.5 miles from OU Campus.   I'm probably going to fix this one up and keep as a rental property, even though I could flip it for a huge profit.   Have to start keeping some to build long-term passive income.

Details-
3 Bedroom, 1 Bath, 1084 sq ft

Purchase Price: $7,500

ARV: $65,000-70,000

Est. Repairs: $10,000

Comps: Similar sized houses next door sold for $95,000 & $68,500 in last 12-28 months

On to the next deal!!

Welcome to OklaHOMEa!! 

I just acquired an Option to Purchase Agreement on this beautiful Turnkey Cash Flowing home in Edmond, Okla.   The current reliable tenant is on a $2,000/mo lease until May 2017, so immediate cash flow!!  Call (918) 951-7142 or email [email protected] for more info.

FLIER WITH PHOTOS

Appraised for $265,000

Wholesale Price $230,000

Looking to grow our network of REI's throughout Oklahoma and Wichita KS areas who may be interested in Wholesale Properties we find or acquire that do not fit our Portfolio. Go to 4Lease4Sale.com to subscribe to receive updates.  Thanks

Hey Chris, I'm from your area (Broken Arrow) and have really just started real estate investing this past year myself. Have purchased three homes so far.  My suggestion, based on recommendations by others I know who have been doing it a lot longer then myself, would be to go at it alone but always be open to partnering on individual deals. I've purchased my first three on my own, but am definitely going to be partnering on some individual deals for sure to allow me to be able to do more. Best of success!! 

Jeff

I sold a property to a family member and am carrying the note.  How do I record it in QuickBooks and track payments and interest?   Thanks for any help