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Updated over 4 years ago on . Most recent reply
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New to real estate investing - looking for a starting place
I'm brand new to real estate investing. I currently live in California and have a brother who lives in Oklahoma. I was planning on purchasing a number of homes in Oklahoma and having him manage them. The general area would be Broken Bow Oklahoma. As neither of us have ever done this before, can someone point us to a good starting guide? Things to watch out for? What not to do? What TO do? etc.? Just looking for any type of advice we could get from the veterans of this space out there :)
Thanks!
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Hey @Brian C. Dilley,
I am going to echo what you've already seen here that getting in touch with a few Realtors in that area is a good start. Make sure the agent that you decide to work with has experience in that market space (if you want vacation rentals, work with someone that owns/manages them, etc.).
I'd define your criteria (short vs long term rental, price point, ideal cashflow, etc) and go from there. I also recommend getting a property manager on board as early in the process as possible. You always want a second opinion on rental rates, expenses, etc.