Скачать или смотреть Why not to buy cheap Oklahoma City investment homes

Please understand this is my personal opinion and you may disagree about what rental home to buy in Oklahoma City or elsewhere. I will be following up this video with one about executive home rental, but let's start with cheap home pitfalls. I have owned a property management company that had both new home construction rentals and cheap homes. I am a great believer that rental income should be passive, another words the best ones sometimes make you forget that you own it until the check comes in monthly. If you are buying very low end the first thing to know is that it is much older and 50 years old may not be un usual. Any 50 year old home in an as is condition will be subject to a lot of breakdowns and repairs, so money constantly is being put into it. When we analyzed the cheap Oklahoma City rentals we realized that the money put into them made them less than cheap. It also meant you were involved a lot with the property manager which is hardly passive income. Second you are subject to low credit scores and often bad credit history and maybe evictions. We also saw a dramatic rise in legal action and expenses. What this means is first, the chances it got torn up is much higher and second, vacancy increased. You have to get them out of there then you have down time to fix it back up. You would think it is a good idea to buy 3 $60,000 homes versus one $180,000 home but in analyzing long term tertian on investment it is not the case. We do have new homes in the $160s that cash flow well, get higher credit tenants, and come with warranties. The next video will deal with that but if you are buying cheap homes, at least know what you are in for. Oh yes, one more thing. These neighborhoods at best don't appreciate and may be on a downward value spiral. To know more about Oklahoma City executive rentals you can email me at [email protected].