I am now the owner of a rental property in Tulsa!
Tuesday, February 27, 2007
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Here is where I detail my adventures in real estate. It's meant for people who want to get into this investment area but need some encouragement, help, or just a general push in the right direction. Hopefully, by detailing all my experiences, you'll see it's really not that difficult or scary.
About Me
Blog Archive
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2007
(110)
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February
(12)
- Escrow Has Closed!
- Rental #1: Docs Signed, Money Wired
- Phone Excise Tax Refund Not Being Claimed
- Rental #1 Closing On Monday
- Rental #1: Insurance For Tulsa Lined Up
- Bad Loans Being Returned
- Title Issues On Oklahoma House
- Trouble With Louisiana Project
- Lots Of Action Today
- More Income From REIT Stock
- OK Property Taxes Will Be Higher Than Expected
- Details Of OK Purchase
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February
(12)
Key Posts
- Get my ebook!!
- The long story of how I got started
- Another step done... and more about getting started
- It's done! Here are the final results
- Final Results For House 11
- How To Get Started In REI For Under $400
- Step by step guide to buying preforeclosures (and birddogging)
- How To Ensure You Get The Best Rates Possible
- Phoenix BirdDogs / Wholesalers Wanted
7 comments:
Congrats, Shaun... That is great - hopefully the first of many!
Well, it's not the first, but it will be one of many! It's been 2 or 3 years since I sold my last rental property and I can't believe I've gone that long without one. Time has a way of getting away from you..
Hey Shaun,
For us newbies, can you post the final numbers for this deal
Thanks sir
Not really. The numbers aren't final yet and won't be for two or three months. I bought this using hard money and I am going to refinance it as soon as the quiet title suit is done. I also own the company that is doing the hard money lending, so needless to say, I'm giving myself a good deal :-) As soon as it's refinanced, I'll post the numbers. Oh, I can tell you I bought it under FMV. It was appraised recently at $89K and I bought it for $77K.
Well, I was referring to the first of many outside your immediate locality... Oklahoma isn't exactly local to Arizona!
First of all, congratulations on your purchase. I am in the process of looking for out of state investments. I was advised to look in Tulsa and I was just wondering what made you decide to invest there and are there other areas you would recommend looking into?
Thanks,
Allan
I wrote a bit about how I chose Tulsa here. But the reality is I got the property more or less through networking. I was just looking for properties locally and the prices seemed a bit higher than I expected. I then made the decision to invest more money and, after doing that, I realized I knew someone who had some properties for sale in Tulsa and I might be able to get a bigger bang for my buck there. I ran the numbers and things looked good, so I bought.
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