Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Richard McLain

Richard McLain has started 3 posts and replied 38 times.

Post: Long Distance Real Estate Investing meet up in Denver

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58

Jennifer, I am a long time investor in Oklahoma City owning over 140 rentals; as well as being a real estate broker and a hard money lender.  I didn't know your group existed, but if you need some content or input on OKC, I might be able to help.

Post: should we establish an out-of-state LLC?

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58
@Beth Walford I advise against using a Florida LLC in Oklahoma. That would be an odd duck. The state with the best and most flexible and well understood corporate laws (which embraces LLC laws) is Delaware. Oklahoma courts have been dealing with Delaware entities for decades. My advice is to set up a Delaware LLC. Or, better yet, a Delaware Series LLC (with one property per Series). Richard S. McLain, Attorney at Law and real estate investor.

Post: Why You Shouldn't Leverage When Investing In Turnkey Rentals

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58

Engelo:

In most markets a debt of 50% Loan to Cost would be prudent enough.  In fact, you would be safer spreading the investment over two properties, as 90% of the time BOTH units would produce cash, 5% of the time, you would have one unit produce cash, and only 5% of the time have no cash.  Having the investment spread over two units would be better than having "all your eggs in one basket" if something else went wrong.

Richard

Post: Oklahoma City Duplex Investment deal

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58

Kaushal:

I was born and raised in OKC, and I am an active investor and real estate broker myself.  The area you circled on the map has never really taken off and is not favored by local investors.

Richard

Post: Support Team Recomendations

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58

Nelson, as an experienced investor and a licensed Realtor, if you are interested in more of a turnkey approach, I can help acquire, rehab, lease & manage rent houses for you.  

Post: Resistance, Persistence, & Success. The Beautiful Struggle!

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58

Caitland J:

You should consider attending our free event:  OKC Deal Maker Sessions.  You can read about it on Meetup.com.  Our next free Meetup is in a little less than 3 weeks in a nice meeting room at The Tower Hotel at 7:00 pm on  Monday, May 9th, 2016.  My partner (Jimmy Ogle) and I started this Meetup out of a philosophy of abundance, and we are inviting wholesalers and real estate investors to get together to share deals and to network.  I hope you will come.  You can send me a message here, or, in the Meetup.com system.    Richard McLain

Post: New Member soon to be in Oklahoma City

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58

With my partner, Jimmy, we just started a Meeup called OKC Real Estate Deal Maker Sessions.  Our first meeting will be on April 11th, 2016 at the Tower Hotel in Oklahoma City.  We will meet on the 2nd Monday of each month thereafter.  Go to www.meetup.com and join.  It is free to join and it is free to attend the meetup.  We will be inviting all the real estate investors in OKC to present wholesale deals.  We hope that there will be Buyers too.  This is a national organization, and we are glad to be a part of it!

Post: I have purchased over 650 houses

Richard McLainPosted
  • Real Estate Broker
  • Oklahoma City, OK
  • Posts 39
  • Votes 58

I am an independently owned and operated HomeVestors franchise office, which is better known by its slogan, "We Buy Ugly Houses".  I have kept over 135 rentals for my own portfolio.  I am active as both a real estate investor, a Realtor and also a hard money lender.

1 2 3 4