18 Unit Multi Family- Need Property Management - Altus, Oklahoma!

[Cody McGuffie]

Hello BP folks, 

I'm an out-of-state (Buy and Hold) investor that is currently under contract to purchase an 18 Unit apartment complex in Altus, Oklahoma. 16 out of the 18 are currently leased up. Unit mix of (10) 2/1 and (8)1/1. We are scheduled to close on 12/20/2016. In search for a property manager/property management company that is set up to handle something like this. Initially, I didn't believe it would be too difficult to find someone in the area, however, I've have called everyone I can find in Altus, OK that says they manage properties. Most other complexes in the area are larger (40-100+ units) are using in-house management or using Lynd (large corporate PM), however, they'd rather not take on a "smaller count" apartment complex.

We're currently in DD period and, at this point, our closing may be contingent upon finding a management company that is capable. Surprisingly, I've found VERY few. 

If anyone has any referrals or suggestions, it would be greatly appreciated!  

Thank you, Cody

Keywords: Lawton, Oklahoma, Altus, Multi Family, Apartments, PM, Property Management, Manager

[Nathan Allen]

Hey Cody. Small towns in OK are difficult in this way many times. I lived in Altus for 5 years. That entire area is very dependent on the Air Force base there, and if it was ever to down size or close there is quite literally nothing else to support anyone there except for a few farms as well as Luscum Aircraft which to my knowledge still has not produced enough airplanes to become cash positive. I feel there are much better areas in OK to invest in without the draw backs of the small town such as this particular one. Happy investing my man!!!!!!! Dream big baby!!!!!!!!!!!!!!!!!!!!!!!!