All Forum Posts by: Zach Sikes

Make sure your broker will allow you to do property management. My current KW office does not allow it, so my wife is getting her brokers license to create a separate legal company for our clients' properties. 

There are some good prop managers here on BP in OK - I know @rhett tullis manages a bunch and is active here on BP

@Eric Noland 

Don't forget to factor in the time when calculating your return.  If you can do 2 flips per year with that money, your return doubles. 

What part of town are you interested in?

Eric,

Great idea on the VA loan. Remember that you will need to live in the four-plex for at least a year before you can buy the next one on a VA loan. They are both owner occupant loans.

@Eric Robinson 

Congratulations on your four-plex! The hardest part is taking that first step.  Have you talked to your lender about buying the next one yet?

@Eric Robinson 

What was your first deal?  What are you looking for?

Taimik Harper - I'm currently a KW agent. Just finished up two years here after being at local brokerage and REMAX. I'll tell you this - I wish I had started at KW. If you have any questions feel free to PM me.

I've been in my new house that I GC'd for about 4 months now. It's definitely a risk - you could lose a lot of money, make some money, or just break even; but you'll never know until you try. In my opinion if you break even on your first one then you should be happy. 

Find a couple of good local resources (builders or contractors) that you trust to ask questions. Some guys were happy to help me because I provided value in other ways, ie referred them other business. If you can add value for someone, they will help you. 

Welcome from Edmond!

I have all real estate commissions from sales and leasing go into my LLC "The Sikes Real Estate Team". All investment is in a separate vehicle. I keep them separate to track P&L accurately. Also divides the liability.

@Kevin K. 

Most licensing classes only get you legal.  For practical training, look to find a great brokerage that has fantastic training. Would you like some recommendations?