Newbie - Wants to know about Investing In Oklahoma

[Sam Rane]

Hello Everyone,

I'm new to this forum and new to investing. a little bit about me, i'm 38 years old male married no kids, I currently live in NC and i  am looking at diving into Oklahoma housing market but i'm not sure where to start exactly. I wanted to know which option would be best for someone like me "a Newbie" and how to actually get started in Real Estate? Should i get a Single Family House (3 bed 2 bath) as a 1st property and rent it out OR get a Duplex ? I'm looking for cash flow and gradual appreciation or maybe mix of the two. My goal is to start small like invest into home/s between 80k-100k and grow my portfolio...

Some of the questions i have are:

1. is the Oklahoma real estate market promising ?

2. Is it risky/or safe for someone out of state to invest in Oklahoma ?

3. Where in Oklahoma should i start looking for houses under 100k ? Name of cities/or Town?

4. Is it easy to rent the property in Oklahoma? 

5. Do i need to own an LLC ?

6. Do i need to hire a PM to handle the property ? 

Any comments/help is appreciate it, thank you all!

Sam

[Doug Spence]

@Sam Rane My answer to all 6 of your questions is: it depends.

Many of your questions are addressed in two of my favorite real estate books, both authored by the legendary @david greene. "Long-Distance Real Estate Investing" and the "BRRRR" book. That being said, he's not going to answer these questions for you, you're going to need to do a lot of digging and soul-searching to find the right answers for you. People on forums can't possibly answer all of these questions for you and your personal situation. 

For example, "1. is the Oklahoma real estate market promising". This is such a subjective question and the state of Oklahoma has so many markets and submarkets with different political climates, economic drivers, and much much more. Every market has some potential, and there are deals to be had and money to be made in darn near every market. 

If there was a black and white playbook with simple answers to every question, everyone would be rich from real estate. 

Good luck on your journey, welcome to Bigger Pockets, and keep us updated on your progress!