Investing: Oklahoma City, Memphis, Kansas City, Little Rock

[Matthew Terry]

Hello BP Mates,

I'm an investor from Phoenix looking for more residential investment properties in Oklahoma City, Memphis, Kansas City, Little Rock or other markets in those areas with similar opportunity.

It seems the trend of most companies that advertise on BP or are guests on REI podcasts are either turnkey or emailing inventory once a week that disappears in 30m. I'm not looking for either. I'd like a team that understands my needs and will offer first rite of refusal on a deal if it meets my criteria.

My focus is C, B class in the $130K and under SF or multi-plex residential that is slightly distressed and I can capture equity with small rehab. Section 8 preferred, but not manditory.

I work with an amazing team that acts as agent, PM, and rehab manager with excellent communication and systems in place, but only producing a property per month, if that. Ideally I'd like to find a similar company that focuses on investors but has a larger pipeline of deals (I understand the supply and pricing situation we are in)

Can anyone point me in the right direction?

[Will Fraser]

Hey @Matthew Terry, I feel your frustration here and feel it myself.  

I want to be very honest and helpful to you here, so I'll say:  what you're asking for is not likely unless you find a brand new agent and yoke yourself to them.

Why? -- The markets you've laid out (for good reason, they've got some good meat on the bones) have been increasingly targeted by every Tom, Dick, and Harry LLC with money to redeploy for the past 2-3 years and any agent that understands investing will have been approached by an average of 1 investor per week. So, for the past 2 years you'd look at at least 100 investors that have reached out with BHAGs and plans and stars in their eyes. And what do they all want?

• $140k or less
• C class or better
• BRRRR or basically ready

So, the only way I think you'll find a First Right of Refusal would be to have a retainer agreement with an agent or to yoke yourself to young, excellent talent who has the ability to ethically, honorably present you with the deals (which statistically will be under contract within a matter of hours from when the hit the market) and wait for you to respond before presenting it to anyone else (usually because they've only yoked themself to one person looking for that product)

@Forrest Faulconer would you add or correct anything I missed here?