All Forum Posts by: Kiera Underwood

Most of the owners I work with use Table Property Management. Happy to connect you if you'd like. They do short term and long term management. What are you looking for? 

@Waneeshe De Hughes I'm happy to overview the Oklahoma City market for you to compare to the other places you're considering! OK taxes are around 1% of purchase price and I've seen Texas taxes be pretty tough on returns. Most of the people I work with are in CA and looking for cash flow here. With current interest rates you almost have to position as a short term rental and almost all of my clients have no experience with that. I have in-house management that does all of the design, clean up, ordering, set up and licensing with the city. Let me know if you'd like to discuss! I can also answer questions about investing OOS in general, so don't hesitate to respond with any questions! 

@Tina Kouchinsky STR is a lot to bite off, so I would only go that route if you have a property management company that's well versed in it and can show you examples of rentals they manage with great reviews.

In Oklahoma City I help investors buy properties and help them plan the positioning or strategy. Most of the time with today's interest rates you can only cash flow if you position as a short term rental. My clients have comfort with that route because I have in-house property management that does the design plan, ordering, set up, city approval, ongoing management and cleaning of the property. 

So many investors have always thought of investing via long term rental so the mental switch is super hard to overcome. Even for me it was tough to switch gears but these factors pushed me over the edge: 

- The properties that are fit for STR are in better condition and better areas vs what/where you would need to purchase to cash flow via LTR. This gives me more optimism around the long term appreciation potential.

- (Good) property managers for STR keep a VERY close eye on the property so your always stay in good cosmetic and mechanical shape.

- Long term rental is so often associated with costly turnover. I see an average of ~10k spent on most C class cash flowing rentals. I would rather spend 30-40k up front in making my property perfect (furnishing, cosmetic upgrade, fees) vs coughing up 10k every 2 years to clean up renter messes. 

Let me know if I can answer any questions! 

 @Samuel Lynch said it perfectly! I work with a lot of investors in your spot. Too expensive to invest at home, but too new to feel comfortable branching out anywhere. If you want to start exploring other areas and what help is out there you can put Oklahoma City on your list and I'm happy to provide you an overview of opportunities. I do a full service approach for my out of state guys so that you have your bases covered without having to be an expert on the market or be here in person. I'm sure there are other reputable similar providers in other markets! As a key highlight in OKC you could buy, improve and furnish a short term rental for under 200k. On an average deal you would net around 1k per month. Happy to answer any questions about OKC! Good luck! 

@Vani Anand are you interested in getting started locally or are you open to other markets that make sense? I ask because I'm happy to share what I and the investors I help are doing with you, but I don't want to waste your time if you're hoping to stay focused in Atlanta. I'm Oklahoma City based but I am cash flowing and helping others cash flow even at a 7.63% interest rate! Just let me know if breaking down the steps of investing here would be helpful to you. Good luck!! 

FHA and house hacking! Bumped up price a bit over asking and asked seller to cover max allowed closing costs!

@Dave Villa I'm positioning everything I own and any new purchases as short-term rentals in Oklahoma City. The management team I work with is keeping vacancies lower than market standard via intentional decor, pricing, super host status. The people in my network working with the management team are happy with pm as well. I've worked with investors on LTR here for years, but STR has been our saving grace in order to cash flow at current interst rates. It's still easy to get approved through the city here and there are tons of STRs that are in operation but aren't approved . My angle is to get in while it's easy and affordable so that when they tighten up regulation like they have in other markets I'll be in the protected class.

@Alec DeAngelo I offer all of that to my clients for free. We've focused on LTRs for years but have pivoted to short-term rentals with interest rate hikes. I can only speak to Oklahoma City and the portfolio that we currently manage, but I'm happy to teach you how to run numbers & understand this market to the point of pulling the trigger on an STR that will perform. Our property management team designs/stages, gets city approval and manages the the STR after purchase. I'm happy to tell you what all of that looks like in more detail here and maybe that will be helpful with the market that you're evaluating?

@Dennis Mannon I've got access right now to a condo under 100k that would perform well as a short term rental. It needs ~15k in work (that can be managed for you remotely) and it'll cost ~25k to setup/furnish (again being out of state is okay). I'm happy to answer any questions! 

@Travis Timmons love your concise, direct, useful information! Great response!