All Forum Posts by: Scott Nachitilo

@Tyler Garza

It's wonderful to see your enthusiasm for real estate and your dedication to securing a future for your family. Wanting to buy a new house while renting out your current one is a smart and thoughtful move. I must say you’re definitely on the right track! This is an excellent way to begin your adventure in real estate investment!

Here are some tips that could potentially assist you along your path:

Continue learning more by delving into books you enjoy reading and exploring podcasts and online courses related to real estate investment topics to expand your knowledge further! There are a plenty of resources that can provide valuable insights into various strategies for investing in real estate, as well as tips for market analysis and financial planning.

Engage in networking by exploring real estate investment groups or participating in forums where you can connect with fellow investors at different levels of experience for guidance and collaboration opportunities.

Join Workshops and Seminars: Seek out workshops either in your area or online that are centered around real estate investment. These events provide chances to gain insights, from professionals, in the field and connect with individuals who share interests.

Take it slow, to begin with. Considering your existing business experience. Ponder kicking off with an investment property first before diving into something this approach could provide you with practical exposure without feeling too burdened.

Be patient and persistent when it comes to real estate investing; it's a journey that requires time and perseverance! Embrace the learning curve. Don't let setbacks discourage you.

If possible look for a mentor or try to connect with someone who has experience in estate investing. Their advice can be really helpful as you make your way through this journey.

Stay motivated. Wishing you all the best on your path. Cheers to you!

Yes, you’re legally obligated to make reasonable efforts to re-rent the property due to the duty to mitigate damages. Although you could theoretically revoke your offer to find a new tenant, it may not be advisable. If the tenants take legal action, a court could find that you didn’t fulfill your duty to mitigate damages, leaving you responsible for the full rent. While you have mentioned that the tenants’ frequent texts are annoying, it’s best to stay professional and set boundaries by letting them know you’ll update them when there’s progress. To ease the situation, consider offering a buyout agreement where they pay a lump sum to end the lease early. Continue documenting your efforts to re-rent and communicate clearly to avoid disputes.

If it’s too much to handle, hiring a property manager could help.

OKC Home Realty Services

As a licensed property manager, I’m always on the lookout for resources that can help my clients and fellow investors succeed. Today, I’m excited to share a YouTube video that I believe is a must-watch for anyone serious about real estate investing in Oklahoma.

The video, titled [Is Oklahoma a Good Place to Live?] (Link: https://www.youtube.com/watch?v=vTpDKsuvvrY). This video highlights the state's affordable housing, thriving job market, and vibrant culture.

Why I’m Sharing This:

In my years of experience, I’ve seen how the right knowledge can make all the difference in real estate investing. This video is a goldmine of information that can save you time, money, and headaches.

Let’s Discuss:

Are there any additional tips or resources you’d recommend to complement the video’s content?

I’d love to hear your perspectives and experiences! Watch the video, and let’s get the conversation started.

Scott Nachatilo

Licensed Property Manager

OKC Home Realty Services