Seeking advice/feedback on my thoughts!

[Joe Miller]

Hey Everyone!

   My names Joe and I am excited about becoming part of the community! I am hoping that y’all could give me your thoughts/feedback on what I am currently thinking. 

In 6 months I will be relocated to the Oklahoma City area for Work. I’m currently 22 and at the time of moving should have ~40-60k to invest with. I have good credit and a good full time job. Just to give y’all background information I also have experience with interior renovations working with my dad at a young age so I am confident I can do some of the work myself. 

My plan is to buy a foreclosed, wholesale, or undervalued home in a growing neighborhood. I’m trying to do research on growth rates, schools, safety etc and select a few areas that I can see being desirable. What I want to do is buy a property that requires work and Work on it some prior to my relocation and then live in it and work on it during this time period. In about 4-6 months depending on renovation requirement I’d find another property and flip this one. If I can’t find another deal in time I have friends to stay with so I am not concerned about not having a place to stay. How do y’all go about finding foreclosures or similar properties and is there any way to really tell what kind of shape they are in? 

What are yalls thoughts on this kind of approach? Any advice? Any Okc investors with insight on areas to target etc... 

Thanks so much! 

[Wougi Heap of Birds]

Hey @Joe Miller, glad to here your moving into the Oklahoma real estate investing market. I would definitely consider @Adam Sheren's idea about the BRRRR method. It is a much better move to create long term wealth and income. I work with New Western Acquisitions here in Oklahoma City and we have a good amount of discounted off market deals every month. These could be good purchases for flips or rentals. I will message you directly to get your information. Welcome to OKC