Oklahoma City Market - Changes Coming?

[Scott England]

Hey All

For those of you who invest in the OKC area, I wanted to reach out and get your insights.  With local multi family prices at an all time high, oil very, very low and the various national factors (inevitable rate rise, election year ahead, etc) we have been trying to keep our nose to the ground for any signs of a correction or slow down.  I'd love to hear your thoughts on this issue.

[Stephen Richerson]

Okc has been hot for a while.  Any downturn is a seasonal thing.  The energy issue will have a significant impact on economic growth but at the same time that will bring opportunity for good deals.  Oil and gas folks who get laid off or their oil field service industry goes bankrupt end up short selling, or get foreclosed on.  There are always investing opportunities no matter what is going on locally. 

Oklahoma is close enough to the open Mexican border so there will be a constant population growth for immigrating families.  Investing in anything south of I-40 is cheap and you can get a large family to rent it out. Most immigrating families have multiple income earners so a lot of time they are very reliable for rent and are great for an eventual lease option. 

Yukon and Piedmont are still growing and have good enough schools for rentals markets.  I have never considered MWC or Del City except for new homes around Tinker AF base.  Military folks are always in and out of town, have stable income, and more disciplined than most. 

Can't go wrong with rentals in Norman because of OU and Edmond will always be in high demand. 

However, take a look at mid town and uptown.  The schools are rough BUT many young professionals, are enjoying the culture that has been booming.  From 16th to Paseo drive, 23rd street etc, between Broadway Ave and all the way to May Ave. That are might have another 10 years of rehabilitation development.  

Still my favorites are the Village, older Deer Creek neighborhoods, and anything close to the Kilpatrick turnpike.  Over the next ten years, that entire highway will be developed all the way to Yukon.  

Stick to basics, find good deals in good school districts.