All Forum Posts by: Ron Harris

Jay,

You'll want to talk to the "Commercial" department at your bank for lending. They usually understand the difference between real estate investors and retail buyers. You should be able to get 70-80% of the LTV/ARV (loan to value / after repair value).

When I buy properties, I like to get all my cash out plus some. So if I'm into it 50% ARV, and I pull out 70%, I walked out with 20% (100K ARV, All in 50K, Refi 70K, Extra cash is 20K). As one of my students said, "That's like getting a free house!". All I wanted to get was all my cash back, ha. But he's right...free houses is awesome!

If interested in learning more, find me at any one of the many real estate meetups on meetup.com. I host some, my students host some, I attend many. Also, look for the REIA's.

Welcome to BiggerPockets

I recommend you join the local Real Estate Investors Association (REIA) & free Meetups to be around like-minded individuals.

In Oklahoma City, we are a tight group of investors and colleagues. Many of us become close friends and like a family! What I have seen over the years, since 2006, is that we can tell the success level of new investors by how often they show up. It's amazing what it will do for your motivation and momentum when around your peers.

For real estate investors in Oklahoma City, we have:

1st Wednesday of every month "Coffee with Real Estate Investors"

1st Thursday of every month Millionaire Possabilities MPREIA 

3rd Wednesday of every month Landlord Meetup

3rd Saturday of every month Real Estate Wholesalers Breakfast 

4th Tuesday of every month OKC Real Estate Wholesalers Network

For entrepreneurship & business in Oklahoma City, we have:

2nd Wednesday of every month "Coffee with Entrepreneurs"

4th Thursday of every month OKC Entrepreneur Group 

Multiple times per month"The Meeting After The Meeting" - Dinner with Entrepreneurs & Real Estate Investors 

I am a local real estate mentor and business coach so if you ever need guidance and accountability I might be a resource to you. I am always open for a cup of coffee!

No matter what you do, you MUST plug in to all the local resources and build relationships! It will be invaluable to your real estate success. 

Enjoy the day,

Ron Harris

The Renascent Entrepreneur

It's works great here in OKC. I only buy properties that I can "BRRRR", though I've been doing that for years before anyone called it BRRRR, ha ha.

I was sharing with one of my students how I buy properties and like to get all my cash back and he said, "It's like getting a free house!" Whoa! I never thought of it like that. I just wanted my cash out and be into it around $0 with infinite ROI, ha ha. So, think of it "getting a free house!" It works.

Several banks will do it and some will even fund you in full when you have proven yourself.

Private lending is easy...very easy to raise here so that it helps with paying CASH for you to REFI out later.

Highly recommend you find a local mentor in the Tulsa area. 

You can also utilize a service company or title company to escrow the mortgage payments to the lenders. An extra layer of accountability. 

Always open for coffee and let you pick my brain for a hour. My mantra is to share "why real estate" to get everyone ready before the bubble pops. It's coming! @Michael Clayborne @Barrett Determan @Account Closed

Millionaire Possibilities September Meeting-Panel of Local Investors

“Every First Thursday of the month we get together , learn from a guest speaker, network and meet people with alike interests in Real Estate Investing.”

Stop Laboring for Others - Build Wealth for Yourself

On September 5th the US will be celebrating Labor Day! Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country. Come out on Thursday night September 1st and hear 5 local Real Estate Investors who quit their day jobs and are full-time Investors. Let's hear how they did it and learn how we can do things better!

Our speakers will be Bryan Tilos, Justin Gentry, Shawna McDuffie, Russell & Shara Hunt, and Shawn McVicker. Come out and show them your support!

We have an "MP MIXER" from 6:00 - 6:30 pm

with food provided by a sponsor every month!

Please contact Cecilia at [email protected] to learn how you can become an MP Mixer Sponsor, and to get an opportunity to give a short presentation about your business and the services you offer to the entire audience at our meeting

Come early and get your extra door prize ticket

for TWO chances to win!

Time: Registration opens at 6:30pm, event starts promptly at 7pm. Be early so that you can visit the vendor tables and still get a great seat for the meeting.

Cost: Free to first time visitors, $20 at the door for repeat guests or save $60 by purchasing an annual membership for $179. Bring your friends!

Hot Topics: Bring your deals, business cards, and other information for our Hot Topics Table. Pictures are great at getting attention! Plan to bring information about your company and talk to as many people as you can. Take advantage of the networking opportunities…that’s where the money comes from!

MISCELLANEOUS REMINDERS:

1-Bring your Hot Topics Tables deals

2-Bring your friends

3-Bring your business cards and meet others there.

Remember: all the money you’ll ever make will come from someone else. Meet and get to know as many other investors as you can.

Don't forget to bring YOUR deals (flyers, business cards, things/services you are offering or are looking for) to leave them on our Deals Table - this is FREE ADVERTISING for YOUR business.

More info at mpmeeting.com or on Meetup www.meetup.com/MPREIA/events/229249086/ 

"Coffee with Real Estate Investors" 

Mini-Meetup just for Investors "Bring Your Topic"
FREE to attend. Bring a like-minded guest! "It's all about the conversation!"

What do you think? Should we do a "Coffee with Real Estate Investors"? We have great fun & success with Coffee with Entrepreneurs and some have asked for a coffee meetup specific for real estate investors. So maybe we try it every 1st Wednesday of the month and/or bounce around on different days. Send me your thoughts and see if we can make it happen!  They just remodeled the Starbucks on Memorial & MacArthur and it's cozy nice!

FREE to attend. Bring a like-minded guest! "It's all about the conversation!"

Sit around with like minded individuals meeting & networking over coffee. Have great conversations about real estate investing, success, building a successful business, and chasing the American dream. We have newbies to multimillionaire attendees. You never know who you will meet!

Topics on tap:

The power of like-minded conversations should never be underestimated! You become like those you hang out with & associate with on a consistent basis. You never know what you may learn, from one simple idea to ground breaking epiphany that could change your life!

We are group of like minded individuals. Come & go as need be. Casual environment. We are mimicking the successful format of Coffee with Entrepreneurs. This is NOT the main monthly meeting meetup.

Time: 7 PM to 9PMish.

Location: Starbucks 5800 West Memorial, OKC, OK 73142

Info: CoffeeWithRealEstateInvestors.com

Afterwards: Many of us go to dinner for more great conversations.

"It's all about the conversation!" FREE to attend. Bring a like-minded guest!

Join the League of Renascent Entrepreneurs today!

Ron & Angelina Harris
The Renascent Entrepreneurs

Sponsors OKCEntrepreneurGroup.com, RenascentMatermind.com, SpearheadRealty.com

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Try Redneck properties. http://redneckproperty.com/