Investing in new construction in Tulsa, OK

[Sam Huang]

We are real-estate investors from CA & trying to pick an OOS market with Tulsa (stable economy and future outlook, modest appreciation & reasonable cash-flow).

We heard from family/friends about new construction duplexes around the Tulsa metro targeting investors. We are long-term investors (10+ years) and plan to use the properties for cash-flow when we retire in 15+ years. We hope to have paid-off 5-10 small multi-family properties in the Tulsa area by retirement age that should supplement our 401K's and Social-Security income.

Area: West Tulsa (blue-collar neighborhood)

Property Price: $360K

Average rents: $3000-$3200 (duplex)

Has anyone heard/worked with Marc Ruiz in Tulsa? Are these numbers reasonable for Tulsa (0.9 for rent-to-price ratio and B class neighborhoods focussing on affordable housing) and the duplex should cash-flow about ~$200/door with 25-30% down.

For other investors in Tulsa, not targeting value-add (BRRRR, ...) - would you consider this a reasonable deal (don't need a home-run)?

[James Atkinson]

Hey Sam, I'm an agent in Tulsa. Depending on the condition of the property, $1500-$1600/month per unit on a duplex is reasonable. West Tulsa can be a tricky area of town, and isn't seen as a top area for renters just yet(specifically across the river). You may look at areas of Tulsa county that are growing and have new construction like Owasso or near the Rose District in Broken Arrow. Feel free to send me a message if you're looking for more detailed info. Good luck with the search!