Investing in Oklahoma, ideas?

Question

I’m looking at out of state investing in Oklahoma, I’m wondering about Lawton, Ponca City, Tulsa and maybe OKC.  Other towns/cities considered.  Who can give me ideas?  Where would be good?  I live in Colorado.

Nate Sanow · Answer

@Don English

Hey I’m happy to discuss. I like that you’re embracing the surrounding markets outside the major metropolitan areas, and looking in Ponca City and Lawton. However before you proceed in those two towns I’d suggest exploring all options. Lawton has some stability due to being near the larger military base there but it’s not necessarily seeing the same growth that OKC and Tulsa have seen. I would also caution you as I’ve observed a lot of very cheap deals available down there but IMO there’s an abundance of cheap supply there which may point to - obviously- a lack of demand.

There are other towns surrounding OKC or tulsa that have their own unique opportunities. For example Shawnee is outside OKC and a few years ago was targeted by an organization known as “Blue Zones” which brought $$ millions into the community for development etc. I’ve noticed a  decent growth trajectory since then especially in commercial developments in the northern and downtown areas.

Just outside Tulsa there is a town known as Pryor, or Pryor Creek to the locals. Google actually has a data plant there. It’s brought high demand to the short term housing market there. I haven’t personally invested there yet but have heard great things.

In Tulsa there are no less than 4-5 major developments downtown as we speak, particularly on the northern part of downtown. One of which being BMX creating a new HQ in town. It seems Covid has slowed the press release on that as some of their planned events have been on pause, however I’m excited to see what that continues to do here. They planted their base to the north of the “IDL” which is our main Highway corridor around downtown and some would have in previous years snubbed their nose to. However I think north tulsa especially near downtown is about to have it’s time, and major anchor developments such as this one cause it stand to reason that there will be “piggybacking “ opportunities in the residential market nearby.

Boiled down to a summary you might be able to find opportunities in the two major city areas and consolidate to an extent. Best wishes to you and your endeavors!

Account Closed · Answer

@Don English I agree with many of Nates points and ideas. Growing up & living in Oklahoma for all of my life I have to say Okc/Tulsa & surrounding areas are probably the best bet to invest in due to the steady growth & life around these areas close to the biggest cities in Oklahoma. I have rentals in Midwest City & NW/central OKC. There's just a higher amount of renters attracted to the cities/suburbs and is where the majority of jobs are. Midwest City is a little more affordable & is a higher renter market, Tinker Air Force Base is right there providing many jobs to both military and civilians with the highway close by providing quick access into the city. Other areas outside the city that will attract a better class tenant is Norman, edmond, shawnee, mustang, moore, piedmont, yukon, etc.

Not to say that Lawton & Ponca City are bad. There is a military base in Lawton, & I am prior marines & am serving in the guard currently & have to say there's a lot of people that go through the base & area that are just there temporary... Now there is still a good amount that will end up staying for a longer while too, just not as high as the amount that are just going to school/training then shortly moving thereafter & they'll most likely have housing already. There is also a college/university in Lawton too. Ponca City is a lot smaller & doesn't have a lot of the same things around without driving a decent amount of miles away.

Agreeing with Nate again, there is probably a lot of good affordable deals available that you can see right now that may point to the little demand in the areas. So I would definitely consider that because it may be a while before you get a good class prospective tenant.

Tracy Streich · Answer

@Don English I really like Tulsa/OKC and the surrounding suburbs.   You will be able to find a good PM in the metro areas.  Lawton is ok but has a lot of C class stuff.   Ponca City is a smaller community.  Will be harder to get PM services but probably some good deals.   Good luck

@Don English

Don English · Answer

@Nate Sanow. Nate, I really appreciate your input.  Ideas, ideas.

Don English · Answer

@Tracy StreichThanks Tracy.  Maybe we’ll talk one of these days.

Investing in Oklahoma, ideas?

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