All Forum Posts by: Tom O'Stasik

I am just starting out with investing and need any help and advice. My husband and I have rehabbed our last 3 homes ourselves and made some decent cash. My husband is in school now and I am a stay-at-home mom with four children that I homeschool. We don't have the time to rehab homes now and I would like to find a good general contractor and or subcontractors to do my rehabs now. I also have quite a bit of student debt to pay off and wondering anyone's opinion on doing house flips versus doing long-term rentals to get those paid off. I guess my biggest question on that is what does your take home end of being with a flip and after paying capital gains. I'm a little nervous being a newbie and starting off in this market think if I find the right deal I can still make some profit. So any advice would be great and any recommendations for a great team from real estate agent to contractor to inspector in the Tulsa area.

Hey @Cristian Portillo. Love the question! Can't wait to see what others answer. I've got 5 doors total, am a licensed agent who did almost $13M in transactions in 2022.

1) Finishing reno on 1 in Jan 2023, and another Jan/Feb - so that's part of my 2023 goal... finishing those and getting them rented out. 

2)Then I would like to buy 3-5 more doors, preferably a multi-fam unit for one of them. 

3) Build a STR/vacation home on a piece of land I own in Santa Rosa Beach, Fl. That's pricey real estate down there.... so it may not happen in 2023 alone.

4) I'm a licensed agent in Oklahoma, but I'm working on my Broker's license.  I would like to finish that by March 2023. And I'd like to do $15M in transactions for 2023.  (Feels like it should be part of my real estate goal!)

5) I have one Joint Venture, and I have another partner @Timothy Casallas that we are looking for a multi-fam to partner on in 2023.

Let me know how that worked out, I'm looking for a new PM in Tulsa also, I'm gonna drive up there and slap my current one possibly. 

I've found deals in Tulsa to be fantastic but the professionals I've dealt with there... a lot of them are just... dumb

And im from Arkansas, I thought I was sposed to be from the dumb state. 

 tulsa was on my list, but at the bottom. how does tulsa compare to Oklahoma City?