All Forum Posts by: Eric Noland

that area would command more than 900 for sure but how large is the house? 2bath? Why are you renting it out? If you are able you may look at selling and renting in another area. This area is nice with lots of newer homes but probably not the best investment area.

where is the home located and how large? Updated? Edmond goes all the way up to Guthrie which would not command as much in rent as closer to town...

Looking to invest in the village area of OKC. Would you be scared off by no w/d hookups? How much to install? I'm not even sure there would be a good place since the house is only 870sq ft. Seems like everyone would want w/d hookups these days but maybe not.

Looking at a short sale and there is a 7500 processing fee!?! That seems really steep. Also, my real estate agent says the price is fixed but does that mean the bank won't look at the offer if I make one that is less? Home on the market for over 500 days.

Just heard back but our offer was not accepted. Too good to be true for our first deal, I suppose. Or someone way over bid. You never know, I guess.

Looking long term (early retirement). Have plenty of cash flow now with day job but would like to be rid of it before 65 ;)

Zach Sikes - I was originally targeting the village area but this house popped up in NW okc (Putnam city) and looked like a good opportunity. I also like that it was built in late 70s as opposed to 50s.

I am in OKC area and was originally looking to buy and hold. Now I am thinking fix and flip may be more profitable. The catch is I am only interested in paying cash for either rental or flip due to risk tolerance. After analyzing a few deals over the weekend it seems difficult to find deals that will net me more than 8-10% ROI (stock market average is around 10%). I feel for all my effort, if I don't make more than investing in mutual funds it's not worth it, sure it's a diversification strategy but still too much work. Are there deals to be had for a cash buyer that I simply haven't found since I am as green as they come or am I on to something when analyzing from a cash only basis? One deal I found I as an example: purchase price 60k + 30k repairs = 90k all in. Comps selling for 135k. Net after agent fees approx. 32k-ish. Wouldn't it be better to flip than to have 90k tied up with house renting for 1250 per month? What say you?

Well we heard back from our agent that today was the deadline for all offers and there are multiple offers. We stuck to our original offer since there is no way to know what someone else may have offered. I would hate to raise our offer just because someone decided to bid $1. Wish us luck!

thanks for the replies!

@Rhett Tullis - so you wouldn't ever leave tree due to worrying about roots decaying under house over time? Just being paranoid, I guess? Also, if there are only cracks in drywall ( nothing noticeable in brick facade, etc.) would you ever consider just cutting out the bad section of drywall and replacing and not concerning yourself with pursuing structure issues any further? Don't want to make mountains out of mole hills but don't want to do the opposite either.

@Adam Drummond - thanks for the info on getting utilities on. I appreciate it!