Advice on Oklahoma City

[PJ Kolnik]

Calling all investors and brokers in Oklahoma City.

I recently was presented with an opportunity to go in on a syndication in Oklahoma City, OK. I'm wondering if anyone on here is doing any larger multi-family buy and hold in the Southern Oaks, Parmalee, Taylor Park, Prarie Queen, South Walker, and Highland Community South.

Overall - does anyone have any good insight into the overall strength and upside of the OKC market?

Thanks,

[Rodney Miller]

Here are some facts that I posted several months ago pertaining to OKC.    We have our high crime pockets just like any other market but for the most part crime is not a problem. 

• Contrary to belief only two out of the top 20 employers for Oklahoma City are energy-related companies, which amounts to only 3% of the workforce.
• Oklahoma City has a great diversity of employment sectors.The City is the seat of government for the State, as well as the county and many regional federal agencies. Two fortune 500 companies are headquartered in Oklahoma City: Devon Energy, and Chesapeake Energy. Top employers include:
• a.Tinker Air Force Base
• b.State of Oklahoma
• c.University of Oklahoma
• d.FAA Aeronautical Center
• e.OU Medical Center
• f.Hobby Lobby
• g.Sonic Corporation
• h.Hertz Corporation
• i.Dell
• j.The Boeing Company

• 2.Here is a breakdown of the top employer sectors in Oklahoma City:
• a.Government 19.2%
• b.Trade Transportation 19.2%
• c.Manufacturing 13.2%
• d.Health and Education 11.8%
• e.Professional and Business Services 11.8%
• f.Leisure and Hospitality 10.0%

• 1.The Oklahoma City metro is experiencing explosive growth!Since 2005 OKC has reported a 1.6% annual growth rate, which is, double that of the national average.The Oklahoma City MSA is approximately 1.38 million and is even faster at 1.66 percent annually, reaching a population of 1.5 million by 2021 and 2million before the year 2040.
• 2.Oklahoma City’s unemployment rate has been among the 25 lowest rates among large metros for the last six years.In January 2017 Oklahoma City’s unemployment rate was 4.1% ranking it in the top ten low rates for large metro areas. Job growth in 2017 is expected to reach .7% or 4200 new jobs added.
• 3.Massive infrastructure and revitalization efforts are transforming Oklahoma City into a vibrant world-class destination and place to live.Downtown Oklahoma City is exploding into one of the fastest-growing entertainment districts in the region. One of the attractions, Oklahoma River Sports is a state of the art $45 million whitewater rafting and kayaking center that opened in 2016 and is home to the US Olympic kayak and canoe team.
• 4.Oklahoma City is consistently voted one of the most affordable places to rent in the country, as well as one of the best places to invest in real estate.
• 5.Studies have shown that millennials are flocking to Oklahoma City.Oklahoma City was voted among the top 10 cities that are attracting millennials as well as the 7th best cities to start a career.Millennials are adults age 20-35 years of age.Studies show that millennials boost economies.
• 6.Oklahoma City has received numerous awards such as:
• a.2017-Top-10 major markets for housing affordability(Demographia)
• b.2017- Top 10 US cities where everyone wants to live (Business Insider)
• c.
• d.2016-Top-10 among large cities for recession recovery (WalletHub)
• e.2016-Top Metros for wage growth over the past decade (Forbes)
• f.2014- 1st in best city to start a business in (Kiplingers)
• g.2016-Best cities for workforce (Global Trade)
• h.2016 -among the top cities rebounding from the recession (CNBC)
• i.2016-ranked number 1 for quality of life (Business Facilities)
• j.2016 ranks number 1 for Women entrepreneurs (Merchant Cash USA)
• k.2016 ranked number 8 for millennial home population(Smart Assett)
• l.2016-Best bang for your buck housing market (Angie’s List)
• m.USA Today Reported,” Since 1999 the number of Californians departing the Golden State for Oklahoma has outnumbered those going the opposite direction by more than 21,000….The influx of Californians is a sign of Oklahoma’s growing economicprowess.”