All Forum Posts by: Thomas Graham

I should also add I put 20% down and the home is about 5 minutes from my primary residence. I'm very familiar with the area and it is convenient to drop by/check it out whenever I need to.

Greetings, I purchased my first rental property a few months back and wanted to get your thoughts/feedback. It was originally listed at $84k but purchased at $74k. Home had all new flooring and kitchen and bathroom were completely remodeled. I had renters pretty much lined up and showed them the place the day we closed. Rent is $850/month and my monthly mortgage payment, interest, taxes, and insurance are $618.99 (on a 15 year Am) leaving me with roughly $231/month cash flow. I plan on managing the property myself. The home is in a desirable suburb of Oklahoma City with a solid school district. The neighborhood is old (home was built in 1964) and I don't figure will have much appreciation or at least not significant. I'd like your feedback though. Obviously I've already purchased the property so no going back now. I'd like to know what I possibly missed though so I don't make a mistake on the next purchase. If you need any other details let me know!

Thanks for the invite in the other thread. I'll mark this down on my calendar and plan on attending. 

Barrett Determan I'm managing the property myself. That's the plan until this grows past the point that I can easily handle the rentals. So far the experience hasn't been bad. Only one house call so far that took maybe 30 minutes of using an auger to fix.

I'm a new member of BiggerPockets but I've lurked for a while. I also followed Brandon prior to him joining up with the BiggerPockets group. My name is Trey Graham and I was born and raised in SW OKC/Moore area. I moved off for a short period of time 5 years or so but other than that I've lived in the area. Earlier this year my wife and I decided to bite the bullet and finally begin investing in real estate just prior to my 30th birthday. We purchase a SF home and got it rented almost immediately. Our current plans are to purchase our next SF home in about a year and a half to two years and go from there. Our current strategy is buy & hold with a primary focus on SW OKC/Moore area. I'm excited to finally join, contribute, and pick your brains on my RE investing adventure.

I too have attended a Rich Dad seminar/training course. After a one hit free session they wanted to up sell to a $400 weekend session. I didn't spend the $400 but a friend did. At the weekend session they did give your various materials but primarily focused on up selling to something in the thousands of dollar range. All in all I would stay away.