New construction duplex Oklahoma City

[Nancy Nakamura]

For all the Ok city folks, been seeing that Ok City is growing and expanding. Is now a good time to buy a new construction duplex between Ok city and Edmund? What do you think? Would love to connect with other investors looking into Oklahoma or past investors based on performance? Key things I am looking at are cash on cash returns and ROI. I'm currently becoming paralyzed by all the analysis and wondering if now is a good time to pull the trigger or wait to see what happens in 2021. Thanks in advance!

[Cassi Justiz]

Those duplexes are super nice but if I remember correctly they have a fairly steep HOA fee that didn't include many amenities. I felt like the rents were also fairly low for the quality of the finishes and I saw quite a few of the units in that neighborhood were including appliances as well.

I don't see prices going down for OKC multifamily (especially newer construction) in 2021 but it's definitely possible that interest rates could go up. If the numbers meet your criteria and it aligns with your goals, then I say jump on it. Just know that anytime you are buying new construction, you need to plan on holding for several years before you start to see any equity build up. So make sure you are comfortable with your numbers before you jump in. :)
 

You will also be in a neighborhood with a lot of competition with most of the houses being almost identical. So make sure you are looking at EVERYTHING that has rented in the subdivision recently to get a really good idea of what your rent rates are.