Rural Oklahoma Real Estate Market

[Nandy B.]

I’m looking to expand my portfolio in Stillwater Ok and surround cities. I grew up in the area and my parents still lives there. While it’s rural, I ve found that it has decent returns in terms of cash flow compared to the DFW area where I currently own 2 properties that are barely cash flowing (newbie mistake).

I’m looking to acquire properties thru owner financing around the price ranges of 30-60K that need modest repairs (cosmetic). I’m looking for smaller properties around 600-1000sqf, preferably 2bed/1bath which is common for the area.

I can put down 20-30% down payment. I’m looking to buy 2 properties by November 2019.

Is there anyone in the area (Lawyer, Realtor, Wholesaler)  who can help me with this?

✅I would like to understand the market better

✅ I would also like to understand owner financing laws

✅ Any leads will be welcomed

[Rhonda McDaniel]

Hi Nandy. I've done wholesaling in Payne County and live about an hour's drive from Stillwater.

I'd be happy to do your boots on the ground work for a small fee and can quickly scrape a list for you- my details are on my profile here or with McDaniel Properties on FB. 

What I can say is that wholesalers go in first with offering an all cash deal and rarely are looking to find owner fi. To find For Sale By Owner's I'd recommend: 1. driving the city 2. Scrubbing Craigslist, Zillow, and Facebook 3. Joining the Stillwater and Payne County rent/for sale FB page. Stillwater doesn't have a REIA meet-up group. Any lawyer can help you understand "owner financing law." In Oklahoma I use True Title and Escrow lawyer David Dryer.