All Forum Posts by: Brendan Harrison

Hey Luke! Congratulations on expanding to Oklahoma. I'll PM you an agent recommendation. She's great!

Hey there! If you’re looking for off-market properties in OKC, let’s connect. My team gets around 20 off-market deals each month, so there’s a good chance we can help you find something that fits your criteria.

Feel free to reach out—I’d love to discuss what you’re looking for and see how we can help!

LLC vs. Personal Name for Purchase

• LLC Loans: Loans for LLCs usually come with higher interest rates and stricter terms because they’re considered commercial.
• Personal Loans: If it's your first property, buying under your personal name might be easier and get you better terms. You can later transfer the property to the LLC, but be aware it might trigger due-on-sale clauses or additional costs. Consult a real estate attorney to weigh the pros and cons.

Is Oklahoma a Good Market for Multifamily?

Yes, Oklahoma is a great market to consider, especially for multifamily properties:

• Affordability: Oklahoma City (OKC) and Tulsa have duplexes and small apartment buildings within a reasonable price range.
• Landlord-Friendly Laws: Makes property management less stressful.
• Stable Cash Flow: Properties in Oklahoma often meet or exceed the 1% rule, providing consistent rental income.
• Growing Economy: Both cities are seeing population and job growth, boosting demand for rentals.

Tips for Getting Started:

1. Do Your Homework: Use tools like BiggerPockets calculators to analyze deals and ensure cash flow.
2. Focus on Neighborhoods: In OKC, check areas like Yukon, Edmond, or Midwest City. In Tulsa, consider Midtown or Broken Arrow.
3. Network Locally: Connect with wholesalers, agents, and property managers in Oklahoma for insights and off-market deals.
4. Learn Continuously: Listen to podcasts (like the BiggerPockets podcast) and ask questions here—you’re in the right place!

Hello and welcome to BiggerPockets! Starting with deal evaluation is a smart first step. Here’s why Oklahoma might be a great market for you:

• Affordability: Properties in OKC and Tulsa are often under $200K and offer strong rent-to-price ratios.
• Landlord-Friendly: Simple tenant laws make managing rentals easier.
• Growing Economy: Job growth in energy, tech, and aerospace fuels rental demand.

How to Evaluate Deals:

1. Run the Numbers: Ensure positive cash flow, check cap rates (6–10%), and use tools like the BiggerPockets calculators.
2. Find Deals: Network with local wholesalers or agents, and look for value-add opportunities in stable neighborhoods like Edmond (OKC) or Broken Arrow (Tulsa).

Let me know if you’d like tips on analyzing properties or finding deals!

Oklahoma is definitely worth considering for your first rental property! Here’s why it could be a strong choice:

Why Oklahoma?

1. Affordable Entry Prices: Both Oklahoma City (OKC) and Tulsa offer properties well below your $200K-$300K range, making it easier to meet your cash flow goals.
2. Landlord-Friendly Laws: Oklahoma is one of the most landlord-friendly states, which simplifies managing your investment and dealing with tenants.
3. Strong Rental Demand: Both OKC and Tulsa have stable rental demand, especially in areas near colleges, hospitals, and growing suburbs.
4. Job & Population Growth: OKC, in particular, has been experiencing job growth in energy, aerospace, and tech industries, contributing to a growing rental market. Tulsa has a solid industrial base and a lower cost of living, attracting renters.
5. Cash Flow Potential: Compared to many other markets, Oklahoma properties still offer better rent-to-price ratios, giving you a shot at achieving positive cash flow even with today’s interest rates.

Specific Markets to Explore:

• Oklahoma City: Check out neighborhoods like Midwest City, Yukon, and Edmond. These areas are growing, have good schools, and attract families and professionals.
• Tulsa: Midtown Tulsa and suburbs like Broken Arrow and Owasso offer affordable homes with high rental demand.

How to Find Undervalued Properties:

• Network with Local Wholesalers: Many great deals come through wholesalers. Oklahoma has a thriving network you can tap into.
• Partner with Local Agents: A knowledgeable Oklahoma-based agent can help you find properties in desirable locations.
• Look for Value-Add Opportunities: Cosmetic rehabs can boost equity and cash flow while keeping your initial costs low.

If you want insights on a specific area in Oklahoma or tips on connecting with local wholesalers and investors, let me know! It’s a market worth exploring for first-time investors like you.

Hi Denise,

Congrats on taking the first steps toward real estate investing! Given your concerns about California’s high prices and tenant laws, exploring out-of-state markets is a great idea, especially for rookie landlords.

Oklahoma is worth considering! Markets like Tulsa and Oklahoma City offer affordable entry points for investors, with properties often priced under $200K. These areas also feature strong rent-to-price ratios, growing populations, and landlord-friendly laws, making them attractive for long-term rentals.

Here are a few tips for investing out of state:

1. - Research Local Teams: Build a network of property managers, contractors, and real estate agents familiar with the area. They’ll be your eyes and ears on the ground.
2. - Focus on Landlord-Friendly States: Oklahoma is a great example, with straightforward eviction processes and laws protecting property owners.
3. - Stick to B and C+ Areas: These neighborhoods balance affordability and tenant quality, minimizing risk.
4. - Analyze Properties Remotely: Use tools like BiggerPockets calculators to evaluate deals. Local professionals can help confirm the numbers.

Feel free to reach out if you’d like more details on Oklahoma or want tips on getting started in these markets.

Hi there!

If you're looking for a better price-to-rent ratio, Oklahoma is definitely worth considering. Markets like Tulsa and Oklahoma City offer properties in your target price range of ~$200K, with rental incomes that align with your goals.

For example:

• Tulsa: Strong demand for rental properties, especially in neighborhoods near downtown or midtown, where you can find a mix of single-family homes and small multifamily properties.
• Oklahoma City: Growing population and job market, with properties in suburban areas and near universities often yielding excellent returns.

Both cities are landlord-friendly, have relatively low property taxes, and are seeing consistent population and job growth, making them ideal for long-term investments. Feel free to DM me if you'd like to chat further or need boots-on-the-ground help in the area.

Good luck with your 1031 exchange!

Welcome to BP! For your goals, Oklahoma City (OKC) and Tulsa, OK should be at the top of your list. Here's why:

1. Affordability: Your $180K-$200K budget works perfectly here, with plenty of single-family homes and duplexes in B or C+ neighborhoods.
2. Cash Flow: Rent-to-price ratios are excellent, with many properties renting for $1,500-$2,000/month.
3. Landlord-Friendly: Oklahoma has straightforward laws that make managing rentals easier.
4. Economic Growth: Both cities have diverse, growing economies, fueling rental demand.
5. Low Taxes: Property taxes and costs are some of the lowest in the country, boosting returns.

OKC and Tulsa also have strong investor networks to help you build a boots-on-the-ground team. I’m based in Oklahoma and happy to share insights or contacts if needed. These markets are perfect for cash flow-focused investors like you.

Welcome to the real estate investing journey, Laqurn! It sounds like you have a solid focus on long-term rentals and multifamily properties—both great strategies for cash flow and growth.

I’m based in Oklahoma and have experience with similar investments, so if you ever want to connect or brainstorm strategies, feel free to reach out. Networking is key in this business, and it’s great to see you prioritizing that already.

Wishing you the best as you dive in, and don’t hesitate to reach out if you need advice or someone to bounce ideas off of. Looking forward to seeing your progress!

Wishing you the best as you dive in, and don’t hesitate to reach out if you need advice or someone to bounce ideas off of. Looking forward to seeing your progress!