All Forum Posts by: Deborah Burian

Congratulations. You're in a thriving area there so great chances for long term success!

We really like Beckett Brothers for this work but there may be a long wait.

Originally posted by @Lyndal McMurphy:

"Next thing I need to address is her latest gas bill which was over $400.  And I even think the billing period for that bill ended well before we discovered the leak, so there could be another large bill incoming.  Hopefully the gas company will provide some relief on the bill."

In Oklahoma City, the utility companies may provide relief if you show evidence that a leak was repaired. Give them a call and have receipt in hand.

Is anyone NOT buying rental properties in Oklahoma? (Insert laughing emoji)

Originally posted by @Rhett Tullis:

i think one of the issues in okc is that the entry point for a typical home buyer is so low that there is no need to pay rent over 1000 unless you are only here short term or have credit/income issues.  there are many markets where 1000 in rent is way lower than buying your own home but in okc you can purchase a home and have payments below that so why rent if you plan on putting down roots here?  the sweet spot in okc for rents is between around 700 and 1000 anything below or above that come with their own "special" issues based on my experience.

This is EXACTLY our experience in near NW OKC.  $1000 and up take longer to rent, have more oddball candidates and don't cash flow as well.

Highly recommend you consult a knowledgeable attorney. States vary greatly and a little investment up front may save a large loss downstream.

@Hai Loc , yes, in Oklahoma you must have a real estate license to manage properties for anyone other than yourself. @Jaren Woeppel , after looking at the available local options, we continue to self-manage although we export a number of tasks, ie. answering the phone.

We were in the midst of building our company and fortunately, had a great relationship with our bank plus a decent W2 income so we just kept building our company but for a few years, we paid bargain-basement prices for houses.

We didn't have any real issues with vacancy, just made a few hand-shake agreements with folks that couldn't pay the rent then found someone that could. In that time period, the tenants were quite often homeowners who had been foreclosed upon. We also experienced an influx of tenant candidates who moved to Oklahoma City because the city was not hit hard by the Great Recession.

We're not members of the 'sky-is-falling-in' club but it does feel like the market cycle is due an adjustment and we are positioned to take advantage should that occur.

Make it more flexible in describing properties available.  I had a non-conforming 7-unit and it was literally impossible to describe the property in the available format. Since we pay for the benefit, that was pretty disappointing.

And to those who say "you don't understand," I do understand but if the product isn't market-ready, don't roll it out.

Don't put out bandit signs and have the ability to close.  That's a good start. Promising people you'll buy their house without the ability to close is deeply wrong ethically and arguably illegal.