All Forum Posts by: Ron Todd

Hey Dane, I've never done a house hack (mainly because I hadn't heard of it when it would've made sense). I've got a ton of kids now so that strategy wouldn't really work well for me anymore. If I could go back to the beginning, I would've done a house hack when it was just my wife and I. As far as where I'm at with investing, I'm very much in the expansion stage. Once realtors learn you can close, they will start bringing deals that meet your criteria. I'm a buy and hold type but it seems like I am shifting into value add (and still hold for awhile), as I get more comfortable with renovation projects. The military keeps me working more than full time, so I'm happy with my strategy for now.

Hey Dane, to answer your first question, you just need to get out there and start looking. Whether that's driving, using Zillow, or talking to realtors. I drove by a quad that I wanted to check out so I called a realtor I like to work with, and we toured the property. During that walk through, she told me the quad we were looking at was too expensive and she had a line on another quad that would fit my needs better (for half the price). She was right and I ended up buying the quad she recommended. Fast forward 6 months and I'm now under contract for the original quad we toured through. The difference? I knew the numbers better this time and am getting the second quad at a steep discount. Real estate is all about making connections and getting out there! 

Life hack - join the military, don't claim a hometown, buy everywhere!

Hey William, the cost sheet has it about 30k total to close.

The numbers don't lie. My buddy is going through a similar situation for some self storage in town. Seems like a lot of the mom and pop owners sell based on emotion and have crazy high prices. I'd sell any of my properties if I could get twice what it's worth! The best you can do is explain the why behind your offer and price it based off of what it's currently producing. Good luck!

I really enjoyed working with Table investments in OKC. They will take the time to answer your questions, don't use any hard sale tactics, and genuinely care about the investor. I don't get paid to endorse them, I'm just impressed with how they do business.

In Oklahoma, my broker got me 2.999% at 25% down, no points on a 105k quadplex investment property.

I am a huge fan of following up on properties like this after they've sat for awhile. Case in point, I'm under contract for a quad where the owner wanted 150, but I wasn't willing to go above 110. Over the course of 6 months, I watched the property empty out and sit idle. The lawn was overgrown and windows were starting to get smashed in. I waited for the property to become a headache and then offered 105. Seller accepted. 

I've seen one of my favorite realtors do all sorts of creative things to get to closing.  She's paid plumbers to do the fixes a seller wouldn't, she's taken smaller commission etc. Her mindset is that it's better to have a piece of something than nothing at all!

Hey Brandon, I'd vote for local contacts. You'll start networking early (maybe even find a brokerage you want to work for) and you can get off market deals. The realtors I work with know exactly what I'm looking for and call me when they find/hear of something that meets my criteria. Being able to close is a big deal, it moves you to the top of the agent's list.