Don’t let your rental property become a charity shelter. Oklahoma City, OK I just read a blog by Donna in NM, who has had the most awful experience with a Section 8 renter. She wrote that she didn’t have Section 8 housing experience and her tenant had 10 years of experience scamming the system. No rent has been collected and now she has a squatter and is uncertain how to correct the situation. Several good remedies were written in response to her questions and I don’t want to repeat her options here. I can’t picture that this is an remote case. Most likely not your exact circumstances, but even so, many real estate investors, who are holding investment property are making costly mistakes. Depressed real estate prices and the profusion of very good opportunities on distressed properties ... 02/05/2010

Just when you thought it was going to get worse at BOA, a light comes shining at the end of the tunnel. First, we are about to close a home in Edmond, Oklahoma that was a BOA short sale that started in July, 2009. Yes, I agree with all of you that waiting over 6 months for an approval is ludicrous. Luckily I had a very patient buyer, and we were able to keep the home out of a sheriff sale. But now for the really good news, and I hope this becomes a trend. BOA has done two things to make the process go faster. Not Olymplic gold medal speed but any improvement is welcome. First, they finally got the computer systems unified between BOA and their acquisition Countrywide. This allows for greater communication and the pooling of resources. Secondly, they brought in a software firm called Equ... 02/05/2010

Price: $1,750,000 FIZBER.com ID 14068737 Single Family with 5 bed, 5.0 bath, in 911 NW 15th Oklahoma city, OK, 73106 http://www.fizber.com/14068737/ 911 NW 15th - For Sale By Owner Property Details: Type: Single Family Address: 911 NW 15th, Oklahoma city, OK, 73106 Sq footage: 9944.0 Floors: n/a Bathrooms: 5.0 Bedrooms: 5 Year built: 0 View full property details and seller's contacts. View more Oklahoma homes for sale. Homes for Sale by Owner. Description: Single Family Property Status: Active County: Oklahoma Subdivision: Harndale Age: 82 year(s) old 5 total bedroom(s) 5 total bath(s) 4 total full bath(s) 2 total half bath(s) Approximately 9944 sq. ft. Two story Style: Traditional 4 or more fireplaces 3 car garage Heating features: Gas Lot is 15960 sq. ft. Elementary School: Wilson In... 02/04/2010

Real estate investment evaluated with cap rates. Oklahoma City, OK Since our system guarantees such a huge difference in cash flow from what is typically received from a single family and multi-family investment property we wanted to illustrate what investors in apartment houses do when they asses a deal. They evaluate the income potential of the property as opposed to what comparable properties recently sold for, to establish value. Basically, how that investment is going to pay them back, comparable to annual interest rate paid on an investment in a CD or Bond. So the ratio between the amount invested and the net profit the asset produces is the cap rate. By applying a certain criteria, someone investing in larger money generator, such as apartment buildings can determine a worthwhile... 02/01/2010

Since this is being posted on localism.com for people in Oklahoma City to read, a brief definition. A short sale is a workout negotiated with a lender or lenders, and can have a mortgage insurer involved if conventional, that sells a home for less than what it would take to pay off the debt. The lender side saves themselves from a greater loss in foreclosure, and the owner avoids having a foreclosure on their record, and minimizes the credit hit. That is the Readers Dgest abridged version. Now for a few details. Once a contract has been sent to the lender with all documentation, and if it is an FHA or VA, an appraiser is called in to check value. It is in conventional type loans where the horror exists. Your short sale will depend on two types of evaluation, a BPO and a RMV. The BPO is ... 01/31/2010

I am preparing for my first Rain Camp coming to Dallas February 16th, which is great being a short drive from Oklahoma City. Probably what I am most interested in is not the great instruction that will happen that day, it will be that I get to see in person, so many people who I have followed on their Active Rain post as well as their comments on mine. For me this is just the beginning of a journey because it is only one day and that is not enough to deepen the friendships I have been privileged to create with so many people I haven't met. For anyone in Oklahoma reading this who is not on this network, or not coming to Dallas, let me tell you about the Power that is here and I want to write about it with this definition: Power is the ability or capacity to perform or act effectively.My ... 01/28/2010

New FHA Changes upcoming.  After April 5, 2010 the down payment of 3.5% does not change except for credit score borrowers below 580.Contributions towards closing costs from sellers to buyers is down from 6% to 3%. The upfront mortgage insurance premium (MIP) will be 2.25% up from 1.75%. If you are thinking of buying Now is the Time before the changes take effect!  Which means Buyers will need more money to bring to closing when buying a home. Check this video out -- What the New FHA Guidelines Mean for Home Buyers in 2010 http://youtu.be/yXNmR7FihFU Please post comments and links to articles and other related information regarding the new FHA Changes. Thanks for stopping by. 01/27/2010

Cash Flow Kings Meetup. Oklahoma City, OK Here is a quick and easy way to calculate how much you could earn using our method of renting out individual rooms in transitional housing. $450 a month for private bedrooms and $750 a month for the shared ones (12x12 or larger). Just add it up in your head, and then deduct your operating expenses; e.g., mortgage payment, insurance, taxes (PITI) and utilities, Viola, there’s your net income, and on the average probably around $1,000 a month. One of our newest students just opened a 4 bedroom, split level, single family residence (SFR) in a nice working class area on January 11th. Two rooms are renting out as privates for $450 a month, and two larger bedrooms will be rented out as semi-private rooms for $750 a month. Semi-private rooms include tw... 01/27/2010

Situated inside a centrally-located gated neighborhood (only 1 mile from the Kilpatrick Turnpike AND Hefner Parkway), this Gorgeous Villa-style home is up for sale! This beauty has it all, from granite and stainless steel appliances (including refrigerator), to an oversized 3-car garage with a shop area and a tornado shelter, to being trimmed out like a model home. The huge, open island kitchen overlooks the main living area, with a fantastic view out the huge windows into the nicely-landscaped back yard. With 3 beds, 2.5 baths, 2 dining rooms, and a large, open living area, and tons of storage, this one's got plenty of space. I bet you'll also love the covered patio, the plaza-style driveway, and the fact that the homeowner's association takes care of the lawn. Don't miss out on this o... 01/20/2010

Exceptional rental income for investment property. Oklahoma City, OK Newly opened transitional single family residence is producing outstanding cash flow for new student. “We opened a 7 days ago, and we already have two renters. Both of these fellows were referred directly from the DOC and we can already tell they’re great guys who simply need a nice place to call home. The income potential on this place, even after paying the mortgage and utilities and maintenance is in excess of $1400.00 net profit per month.” “Thanks Alf & Jeannie for speaking with us initially, then educating us, and through your outstanding program. Your expertise, knowledge, experience and compassion are making a difference in peoples lives'. The benefits are not just the money, although great and needed, it is th... 01/20/2010

Hey Oklahoma City!  You have to eat, right?  Chances are you will eat out at least once in the next week.  When the conversation goes like this, "Where do you want to go?  I don't care, what sounds good to you?" pick up the flyer you see above and choose from one of the listed restaurants.  You see, the Oklahoma establishments listed will contribute 10% of their sales to Haiti Relief through the American Red Cross.  It's OKC's Dine Out for Haiti presented by: beconnected!Sunday, January 24:  Boulevard Steakhouse, Cafe 501, Cafe Nova, Dan O'Brien's Public House, Falcone's, Iguana Mexican Grill, Iron Starr Urban Barbeque, La Baguette, The Mantel, O'Connell's, Red Pin, Red Prime, Rococco, Saii Asian Bistro, Sean Cummings Irish Pub, The WedgeMonday, January 25:  105 Degrees, Blu Fine Wine ... 01/20/2010

Oklahoma City, Oklahoma _Free Assistance with Foreclosure _Afraid of losing your house? Do you want to keep it? Call Us. Free Guidance to help with foreclosure process. Are you behind on your payments? Do you think you can't do anything? Do you want to avoid foreclosure? Call to find out what your options are, and to find out if we can assist you. This is a free service to assist homeowners who want to stay in their homes. Click Here to Contact us. Government Website avoiding foreclosure 01/16/2010

I started becoming active here in November of 2008. It took awhile for Google to find me, but after some consistent blogging, I found my post coming up on my Google alerts. I also saw my post of Google searches, and my post to localism.com started to have not only traction, but seem to have staying power. No question in my mind but the power here is building. There is another way I know that the power of Active Rain is building and that is with comments. I really enjoy commenting and trying to add to the conversation. My attitude about it was, these folks know I read the post, and for future networking on referrals especially they would want to do business with someone they feel like they know, even if we have not met. I also wanted to show my appreciation for the knowledge shared, and ... 01/15/2010

Every January, my husband and I attend the Oklahoma City Home and Garden Show.  All of the exhibits get my creative juices flowing and ready for spring projects around our house.  We especially enjoy seeing all the landcaping ideas.  This year I won't be going to the show with my husband.  I will be joining the CENTURY 21 Goodyear Green family at our own booth in the Cox building!Whether you are in the market for a new home, updating an existing home, or considering a change, the Oklahoma City Home and Garden Show should be on your weekend lineup!  By visiting the show you will have the opportunity to see the latest trends for the home.  The gardeners out there will want to tour the gorgeous Feature Gardens (my favorite) by TLC and Absolute Lawn Management & Landscaping.  Shoppers will... 01/14/2010

Oklahoma City Home and Garden Show Where: Oklahoma State Fair Park 333 Gordon Cooper St, Oklahoma city, OK 73107 | Website | (800) 466-7469     With more than 400 local and national exhibitors expected, the Oklahoma City Home & Garden Show will be blooming with new, money-saving ideas that visitors can utilize in their own homes and gardens. From HGTV’s “Design on a Dime,” Summer Baltzer will educate show attendees with tips and tricks for the design- and budget-conscious do-it-yourselfers. Seminar Schedule: -Summer Baltzer of HGTV's "Design on a Dime" speaks at 2 and 6 pm Saturday and noon and 2 pm Sunday. -Author and TV personality Sue Whitney will discuss "Junk Beautiful...How to Refresh Your Home Inside and Out, Junk Market Style" at 1, 4 and 7 pm Friday; 1, 3 and 7 pm Saturday and ... 01/13/2010

Staying OUT of trouble, Please ADD your 2 cents _OREC rules and regulations Ethics This topic concerns referrals Can a REALTOR give a gift to someone who gave them a referral? I would like to give a gift to a wonderful person who liked us or trusted us enough to send a referral our way. I would like to give a $25.00 gift card in appreciation for the referral. Is this considered inducement even after she referred the client our way? I would like to show our appreciation with what I feel is a small gesture, but I want to stay within the rules and regulations, so If you know the answer to this qestion, please be sure to leave a comment. Thank You. I thought this would be a good topic to discuss, so please leave your 2 cents. 01/11/2010

No matter how new my computers are, no matter how zoomy my component parts are, I still was getting the dreaded Proxy Error on Active Rain. I would see a really good looking post on the home page, and I would wait, and wait. and wait, then get timed out. Then I read an article in Time Magazine, yes I still get that paper magazine, and it was all out building a better mousetrap browser. Do you remember the first time you were in a turbocharged sports car, and just took off? That is Google Chrome. Google Chrome is lightening fast, and it is designed for all your favorite Google applications too. Not only that, when you download it, it imports your favorites toolbar and your bookmarks and other surprises occurred I did not anticipate. First, my home page was not changed. I do have msn.com ... 01/11/2010

I have to admit that in some ways I am a little tired of Facebook. In the world of promotional media I ask myself, do I have time to blog, Tweet, pay per click, maintain web sites, create drip emails, work on mailouts, and have a Facebook Fan page? Since I don't do any speed drugs stronger than coffee, it I don't think I can do it all. Facebook is fun though on many levels. I am out there as a part of my local community. I have become friends again with people I knew growing up, as well as people in real estate, and new people I get a chance to meet. I do have blog post autopopulating on Facebook, as well as vflyer.com listings, and tweets, so I don't want you to think that I think it is all bad, but let me say a few things about Facebook bug me. I don't do Mafia Wars, or Farmville. Not... 01/10/2010

I am outside of Eureka Springs, Arkansas with Charlene, it is snowing outside our cabin, and we are in the middle of our business planning session. We came here to get away from the daily interruptions back home in Oklahoma City, and work on the implementation of out goals. But I am a bit distracted. I read the New York Times daily, and there was an article in the Sunday addition about Cape Coral, Florida and why the recovery has a way to go if this area is an example. What caught my attention and my anger was a Realtor who had been using a tour bus to bring people to Fannie Mae Repos, and one of his pitches is to tell people to liquidate their retirement funds, and I mean completely cash in, so they can buy a "once in a lifetime" opportunity to buy a house in Cape Coral. "Prices are at... 01/03/2010

January 1st seems like the best New Year's Day I have ever had. You see, although I have been a "member" here for over two year, I didn't start doing any posting here until November of last year. I was in cancer treatment in Houston, and that was the beginning of a wonderful journey with all of you. I look back at Active Rain, and I don't think of it as a website for real estate, rather as a circle of friends, and it is a complete circle. On December 14th in Houston my Doctor's told me that they think they got it, so you can understand why 2010 seems like a new life. I thought I would look back at a few important events to illustrate my gratitude. At the end of 2008 I sat at 7992 points, I wasn't on the first page of my state, and I still didn't have a complete profile, but I kept blogg... 01/01/2010