All Forum Posts by: Ben Scott

Hey @Wallace Zhen, excited you're looking to invest in Oklahoma City.

1. I host a bi-weekly zoom call on Wednesdays at 1pm for OKC real estate investors. I'd love for you to join. DM me for the link. Next call is Nov. 4.

2. With your budget and goals, I'd look at newer construction (2000 or newer) in the Yukon/Deer Creek/Mustang school zones. I just rented a home in Yukon schools for $1600/month. Low turnover for families with kids and school and you typically attract better tenants with newer construction and high rents. These deals can be hard to find but if your goal is some cash flower and minimal headache, that might be a good route.

3. Homes in Oklahoma City schools aren't as in demand from owner occupied buyers. But you can still command good rents and quality tenants. I'd look at communities on the fringes of suburban school districts for homes built 1980+ that are 3/2. You can land those in your budget and enjoy some cash flow.

@Alyssa Dyer I'd love to see that map, as well!

Bi-weekly virtual meet-up for folks investing in real estate investing in Oklahoma City and the OKC market. We have people with long real estate investing portfolios and those who are new to the game. Please join us. Out-of-state investors and those interested in the OKC market are welcome, as well!

https://nexstar.zoom.us/j/99664973664

I agree with @Will Fraser Will the Thrill Fraser. OKC and Tulsa are very similar markets. In OKC, the south side is rougher than the north. That's flip flopped in Tulsa. But suburbs, architectural  styles, culture ... the cities are very similar. 

I used to own rental property in North Tulsa. Right by Booker T. Washington HS off Peoria. People have tried to revitalize North Tulsa and nothing really ever takes hold. The area has higher crime than the rest of the city but there are also many more good, hard working people that pay their rent on time and take care of the property. I think choosing good tenants in that area would be paramount to the success or failure of your investment in North Tulsa.

Hey @Tom O'Stasik, was your 9-5 in the oil and gas industry? Just curious. 

OKC is relatively hot right now. I say relatively because it's mostly a linear market and prices don't fluctuate that much. But we're seeing some of the highest contract prices in a decade and much of that activity is from out-of-state investors. I'm working with investors are starved for deals but are having a tough time getting anything under contract at prices they did a few years ago.

Great question. I think it's more an issue of consumer confidence. When oil and gas prices are low, people are less apt to make investments. More liable to stay in their existing home than upgrade to a larger home because they're concerned about job security. WPX closing its offices was a big blow to Tulsa, I know. So that makes people in the industry who still have jobs a bit more hesitant to purchase their next home. I don't have any data to back this up, but I'd say WPX closing could dampen real estate prices for the next 6-12 months. 

Oklahoma City, meanwhile, is on fire. Lots of out-of-state investors and home owners taking advantage of appreciation. Low inventory and low interest rates have made my market very competitive. I know some investors who are waiting on the sidelines for prices to drop in Oklahoma City.

Hey@Melvin Haynes, congrats on the deal. What part of OKC is this house in?

You might get the best price if you list with an agent in the MLS. You could ask for a discounted fee from the agent since the potential buyer will most likely accept the home 'as is' and won't be subject to an appraisal. Less work for the agent. There can be a headache with showings, fielding offers, etc but it will most likely land you the best price ... getting the home in front of the most potential buyers.