OKC here I come! Real estate realtor recommendation?

Question

I'm a long-time reader, now a first-time poster. I have learned much from perusing the blogs and am excited about spending time in Oklahoma City.

While moving in the military I have bought and sold several houses over the years, but this will be my first all-in with REI. I will be in OKC parttime and will be house hacking and potentially picking up several rentals in OKC over the next year.  I look forward to building relationships with those established there.

In July I spent a few days in OKC looking at neighborhoods and getting the lay of the land. I've spent countless hours sifting through the MLS to get a feel for what's available. I'm ready to find a realtor to start making offers and get under contract before the end of the year.

I know there are some OKC realtors on here.  I am currently overseas and would love some personal recommendations to help narrow my search.

Thank you all ahead of time!

-Robby

Landon Whitt · Answer

Thanks Robby, the podcast came about from me searching for the info and not finding it. Ive been in real estate long enough now to feel the burn of past advice thats hurt clients and it stinks. Too many times realtors get caught in living the lifestlye of our clients we want to sell too and before long our payments pile up and it clouds our ability to give accurate advice when our kids, cars and spouses are waiting for closing day. Sellers of investment property know this. They have had them for a while and figure the market nationally is spicy right now and its time to unload. These properties are listed at ridiculous prices with returns that make zero business sense. Yet they are selling every day in our current flurry of market activity. Why? 1. Because its cool to buy. 2. Because they assume appreciation will continue so they are “storing” money in the house. 3. The realtor wants a paycheck and just looks at the comps from the other idiots that bought.

Moral of the story? Investment in real estate is a business, not a casino. Run your numbers off today and you will be fine. When the numbers show not to invest today than dont other wise your better off buying lottery tickets. Less headache and no closing costs.

Kiera Underwood · Answer

@Robert Trest You're seeing the struggle of on-market inventory! When they do pop up they go fast. I love that you're looking for a house hack. I and several friends have done the same thing. You're right that it's tough to grab multifamily at a good price here. If you'll only be here part-time a modest single-family mortgage won't be too big of a hit on your wallet. If you're looking near Will Rodgers, you can definitely find easy to manage price points that will cash flow for you once you rent it! Happy to answer questions for you about OKC. Good luck!

Tracy Streich · Answer

Cassie Justiz is very active on this forum.  She is one of the best in the OKC market working with out of state investors.   We manage for several investors that she found great properties for them. @Cassie Justiz

Landon Whitt · Answer

Woa hero! welcome to tinker AFB! You say you have looked over the mls and are ready to start making offers... what??? where? Lets talk numbers for a second, what numbers are you running on your deals? Are you looking at midwest city if so there is zero appreciation, del city? forget it they hate investors and require interior "$$$safety inspections" every-time you change names on the water bill. Let's talk strategy warrior and then talk about putting offers.

Bryan Terry · Answer

I just closed on my first property in Midwest City Oklahoma on Monday.  I am also not in the area and I would definitely recommend @Cassi Justiz.  She was incredible and was very helpful for an out of state (or country) investor like yourself.  Good luck on your journey.

Rhett Tullis · Answer

lots of realtors around , some know what they are talking about with rentals others not so much.  make sure and do your research and look at all the options.  there are deals to be had but they are becoming fewer and farther between.

Robert Trest · Answer

Thank you all for your input.  Many of you have reached out to me both on this tread and via message with great recommendations.  I'm looking forward to finding and closing on my first of hopefully many properties.

Kiera Underwood · Answer

@Robert Trest I totally agree with @Rhett Tullis I've seen "investment-focused real estate agents" in OKC claim they help people pull off the BRRRR strategy like it's cake in our B class NW OKC area.. where's it more of a challenge to even achieve an 8% cap rate. I want to see those people's past deals!! Just vet your providers. The deals are here!

Robert Trest · Answer

Thanks for the replies!

@Landon Whitt Thanks for the welcome.  I will actually be working with the OK Guard @ Will Rogers.  I did 18+ years of active duty, time to shift gears a little...

I would like to focus closer to Will Rogers, but not limiting myself. Strategy?  My first purchase would ideally be a small multifamily to allow me to live in one part-time, rent the other(s).  But that looks like it may be tough to find.  Beyond that, I'd like to focus on SFH to maximize cash flow. Appreciation would be nice, but cashflow is my focus. Those are good nuggets on Midwest City/Del City.  Are there other areas that make investor life difficult?  I am not limiting myself to OKC proper.  Since I will be part-time in OK, I want to make sure there is adequate management support in those areas outside of OKC.

Not finding much on the MLS I would consider "deals". The few potentials I have seen go quick. There have been a handful that I thought hit my cashflow threshold.  That's where a good realtor would come into play.  No BS opinion so I can move quickly.

I haven't cracked the nut yet on wholesale properties, haven't yet developed the right relationships with the right people to open those doors...  Figure this is a good start.

Great info on your site.  I wish I had stumbled on your podcast earlier.  Time to binge!

-Robby

Scott Hasselbach · Answer

I work with Darren Webb, Team Webb Century 21 Goodyear Green. He is great.

OKC here I come! Real estate realtor recommendation?

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