All Forum Posts by: Cassi Justiz

I use P3 accounting out of OKC. They're really well versed in real estate accounting and bookkeeping both. 

@Michael Ewers, At your price point, it's worth considering MWC and Del City as well. As Zach mentioned, those areas historically haven't appreciated as much as other parts of the metro but we've seen some upwards mobility over the last few years. Also, Del City recently did away with their city required occupancy inspections which was a big negative for a lot of people. The barrier to entry there is much more manageable now. 

Welcome @Lesli Davis! 

There's a ton of resources on here but I would definitely recommend getting plugged into the local community too! I host the InvestHER meetup. It's exclusively for women investors. You can find our group on Facebook or Meetup.com. We are meeting tomorrow night for a happy hour from 5-7pm at the Fair Weather Friend brewery in downtown. We'd love to have you join us!  

Try Lakeshore Plumbing. I know the owners pretty well. They reached out to me about a week ago to let me know they had availability to pick up more work. 

You've already got some great insights on this post. The entire nation had crazy appreciation over the last 3 years. If you look at historical appreciation in Oklahoma, we average around 2-3% per year if you exclude 2020-2022. I agree with Rhett that you really need to look at cashflow as your primary objective and consider any appreciation as a bonus. I think as the market continues to stabilize, we'll get a better idea of what our appreciation will look like over the next few years. 

Our insurance covers the cost of replacing/repairing tornado damage, so that isn't a big concern for most investors. Every area seems to have a natural disaster of choice, and Oklahoma just happens to be tornados. 

Our market can definitely still make sense for a lot of people and cashflow opportunities do exist, they're just much harder to find with 7%+ interest rates. 

Hey Daniella, 

You are off to a great start! Out of state BRRRR is going to be one of the more difficult options to start with. There are a lot of moving pieces that could change and have hiccups. Obviously, tons of people have been super successful with that strategy and it has the potential to be great.

If I were in your position, I would try to find a cheap turn-key or light rehab property to establish your connections out of state. Find a great team, test them out on the first one and then you can start looking into the heavier rehab BRRRR deals. You want to make sure you have a great team in place before you try to tackle a heavy rehab.

Best of luck on your investing journey! 

Honestly with 25k, I wouldn't recommend buying an investment property. Even with 100k property, that will barely cover your down payment and closing costs.The best use of those funds would probably be to use it as a down payment on a house you can live in for a few years, and then rent out. 

If purchasing a home to live in is not possible in your market. Then you may need to re-evaluate your strategy to acquire more capital or partner with others that are already operating in the market and have access to more capital. 

OKC has a lot of meetups. I'm not sure what the Tulsa meetup options are. 

Meetup.com is a great place to look. I believe most of the meetups get advertised there and the rest of pretty easy to find on facebook. There are several investor happy hours that happen monthly plus a coffee with investors. Millionaire possibilities is the name of the REIA.

This is a good place to start! 

https://www.renascentmastermin...

The actual management part isn't difficult if you have a low maintenance home and tenants. What I've found is most difficult is managing the turn-overs and make-ready process. I've done a combo of different things, but for me what works best is finding a property manager that will do lease only options. The PM that I use to lease will also help coordinate the make-ready repairs and do walk-throughs which makes a HUGE difference. I've tried coordinating on my own, but contractors are so hit & miss that it's worth it for me to pay extra to have someone to coordinate repairs. If she didn't help coordinate that kind of stuff, I would probably need full service management.

I have a few local properties that are higher maintenance than the rest, so I'm about to start handing those over to property management over the next few years. 

Hey @Adrian Thompson, 

Welcome to BP! You're in a great market to invest in. :) It sounds like you've already got a solid start!  I would highly recommend getting plugged into the local investor community. There are a ton of meetups. The easiest place to find them is usually meetup.com, but you'll find a lot on facebook too. 

Feel free to reach out if you ever need any help or want to chat! The real estate community around OKC is great and most investors are really helpful.