All Forum Posts by: Tommy Ray

I have a duplex at 23 / 25 NW 24th st.  I would be interested in selling for 25,000.

What if I am selling a home for 175,000 and it is a 1031.  Net proceeds are 156,000.  I want to buy an investment property at 175,000 but the owner is willing to owner finance 80% of the deal.  What happens to the remaining monies or do I have to go out and "sink" those monies into other assets until all the remaining cash is sunk it investments?

Gerald Turner, I have not worked with Tim Hall.  

The good contractor is hit and miss for sure.  The industry of home repair battles with high incidence of drug use and abuse.  We have some decent guys there but we tend to bring them in when we have a cluster of homes we close and need to fix up...

Great post Abe!

I am using Lawton Realty Group at 1301 W Gore.  

Don't negotiate with terrorists.  Does she also squat at her mom's current residence too.  I love to see where my tenants live now so I can predict what my place will look like when they are done living there...  

Lawton is at the bottom of its market cycle.  That is exactly the time to buy.  Address deferred maintenance, get professional pics, put out quality marketing, and screen the tenants.  All should work out.  

I love this market--other major employer is Goodyear for instance.  Margins are great.  Strategic partnering in this market is needed so you can maintain quality of services, and an eye on everything.  Overlaid with the economic zones this is a great opportunity market.  I am getting houses at 5-20 bucks a sq foot...  The legal marijuana business is bringing money into the city bit by bit.  

More for your consideration:

The following are links to information that the savvy investor would need to combine investment tactics and techniques to generate high yielding ROI. It considers the offensive and defensive virtues of the tax code, and real estate investing. Offensive virtues are equity capture on the buy, rent, forced appreciation on the renovation, appreciation on the hold, principal pay down as the loan amortizes and the conversion of cash to a physical hard asset to prevent losing buying power as cash sits in an interest bearing account that is outpaced by inflation. The defensive virtues are the depreciation and tax code benefits allotted for investing in incentivized areas and / or using vehicles like Self Directed IRAs that can defer tax liability indefinitely and wash it entirely upon your passing as the monies flow to your children or loved ones.

Economic Incentive Zones: https://eig.org/opportunityzones

More on economic incentive zones: https://taxfoundation.org/opportunity-zones-what-we-know-and-what-we-dont/

IRS FAQs on incentive zones: https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions

IRA data on the 9.8 trillion stored in IRAs: https://www.ici.org/faqs/faq/Individual-Retirement-Accounts-(IRAs)-FAQs/ci.faqs_iras.print

Self Directed IRA: https://www.investopedia.com/terms/s/self-directed-ira.asp

Hot Market Data: https://www.zillow.com/lawton-ok/home-values/

https://www.movoto.com/lawton-ok/market-trends/

Market Analysis: https://www.littlebighomes.com/real-estate-lawton.html

Housing Data: https://www.neighborhoodscout.com/ok/lawton/real-estate

Dated (2015) market data from HUD: https://www.huduser.gov/portal/publications/pdf/LawtonOK-comp-15.pdf

Oklahoma Senator that chairs the armed services committee: https://en.wikipedia.org/wiki/Jim_Inhofe

Yes we found quality tenants at $640.  Soldiers were coming back from the 2d gulf war.  Their pockets loaded with combat pay.  The previous guy was left with 10 months of a young prop mgr making bad mistakes and negative cash flows.  The previous had not been through the "seasons" of investing and did not have sufficient reserves.