All Forum Posts by: Kiera Underwood

@Michael Fay have you considered the Oklahoma City market at all? We've been exceeding population growth projections, it's super landlord friendly and the numbers are great! As an example you could buy a SFR for $160k that is occupied and already nets $200/month or set it up as an STR to net $600/month. I'm curious how numbers compare! That said so much of success relies on the team you're working with. Do you already have a great team in Little Rock?

@Hector Valadez most of the investors that I work with are from SoCal and the Bay Area but they're all buying in Oklahoma City. It's landlord friendly, taxes are around 1%, insurance is affordable, numbers are getting better every day and I would say on average you can buy rentals at around a 7% cap rate. At a 160k price point that's a net cash flow of about $200/month. Short term rentals are doing great here as well! I hope this is helpful in comparing markets! As you explore different markets feel free to ask any additional detailed questions in order to compare OKC to anything you're looking at! Good luck getting started! 

@Sean Bramble while I'm not overseeing STR syndications at this moment I am involved in selling/setting up STRS in Oklahoma and syndications are on my radar so I thought your post was interesting! Would love to hear more about what you're doing!

@Khanh Tran congratulations for gearing up to buy! I'm happy to overview what purchasing in OKC looks like for you. We can talk about norms as far as vacancy, maintenance, insurance costs, taxes, city regulations etc. What questions do you have? Excited for you to take the leap in this market! 

@Jenni Brown I can speak more specifically to my market, but when investors are looking here it's about risk vs reward and cash available. There's a bit more risk here with STR because regulation is developing and changing. Also you've got to weigh drops in occupancy through the recession and the up front cost of furnishing. A turnkey LTR is more predictable with less setup costs. However, the returns here on STR are sometimes double that of STR. There's a property I'm working on now that's 163k and cash flowing as an str at a net of $200/month but as an STR it will net $600/month. That's after factoring for maintenance, taxes, insurance, PM @20%, vacancy, utilities, and mortgage payment @ 6%. Are you able to run numbers like that to make a comparison for yourself?

@Christian Conti pre corona I helped around 200 clients a year invest from out of state into Oklahoma City! Taxes are low, it's landlord friendly, there are competitive insurance providers, purchase price is super approachable (60-150k) and everything I have ever sold is cash flowing! It's for sure a market I would put on your list. 

@Jacob Billanti you could use a first time home buyers loan and rent the property out while still living there. Just share the space and stay with your family for free most of the time as a perk to the new buyers. Lenders shouldn't care if you're staying at your other free house even most of the time as long as you pay your mortgage and don't try to qualify for another loan for a year. 

@Monique Pett I can for sure send you a quick calculator in excel. Happy to provide you with averages for vacancy, what I use for maintenance, taxes, insurance and can even send you some videos on how to best estimate rent rate here haha! 

@Michael King I'm referring to OKC. I know investing out of state is a huge leap, especially for a first-time investment. I'm happy to overview the market for you/tell you what I've seen and experienced as far as out-of-state investors coming here. Something to put in your toolbox! I'm not sure how transferrable it'll be to other markets, but I'm happy to overview what I know as far as Oklahoma City!

@Jessica Ponder I've helped in around 600 investment purchases in OKC in the last couple of years and I'm happy to share my experience/give guidance for free. Although I love the name of that course, I do think there is some predatory nature with a lot that is out there! Also one of my best friends is on the verge of moving to Spain. I'll have to introduce you! @Lara White I invest and help people invest. I'd love to connect with both of you! 

I travel a lot so a zoom meeting is best for me. I'll reach out to you guys!