All Forum Posts by: Landon Whitt

Is anyone seeing a sizable increase in pre-foreclosures in their market yet? Curious if we have to officially wait till trump is president or if some banks have already started the process. Not seeing it in my market yet.

Is anyone seeing a sizable increase in pre-foreclosures in their market yet? Curious if we have to officially wait till trump is president or if some banks have already started. Not seeing it in my market yet. 

Ive been 10 years in. OKC has alot of opportunity mainly because of its low level of enforcement of housing codes, strong landlord laws and conservative judges in eviction court. Its dirty but its fun. If you like impacting the nation by providing affordable housing you can really put people in houses here. Thats why i wake up each day excited about working rentals here. No day is the same. 

Man, I dont know what all these sellers would do if we didn't have people reaching out to them about buying their homes. 

Awesome, please share who you use. Im always looking for more local connections!!

Oh and if your looking for “highly” successful flippers most of them end up in jail. I would encourage you to focus on taking care of people and providing quality housing. If that results in you becoming rich than great. If not than you helped the world be a better place ;) 

Stay single for as long as possible ;)

Agreed, be careful with anyone you use. People say alot of good things, few actually do them. Be sure to read every review on their google reviews not just the good ones. People have been known to pay to flood their google maps reviews with fake positive reviews. The bad reviews and the companies reply's to them will tell you alot! 

The benefits of investment in Oklahoma City are that it's a low land value high cash on cash returns, making cheaper to get more doors faster and have higher cash flow than any other town of similar size. If you're ok with having a less attractive properties this is a great market to look into! 

Key things to know when investing here:

1. Tons of cheap homes under 100k, people are mostly poor here so invest in cheaper rent homes and you will always be full.

2. Code enforcement does not care about anything. ( they have 9 underpaid guys for 640 square miles and its been that way for decades)

3. Landlord friendly, if your tenant is unable to pay you can have them evicted within 30 days (over 90% never showing up to court to begin with.)

4. Government is the number one employer with 50k plus jobs between state workers, universities and the Air Force base,  so no matter the economy there is steady paychecks fueling the service industries.

5. Section 8 vouchers work well here. Rent your home to section 8 and the government will deposit at or usually above market value rent directly into your account and market rent increases are approved every 2 years basically automatically. Also because there are so many people waiting for section 8 vouchers tenants don't want to loose them so they will take care of your home. Landlords have entire portfolios paid for each month by section 8 federal funding.  

6. There is a very large pool of labor for rehabbing that is skilled at meeting the bare minimum. 

7. Lots of property managers that will manage for 8% or less

8. Zillow is the king here so all of your rental research can be done on one website by looking at what's for rent nearby and how long its been posted. 

9. Lots of local lenders that can do loans on anything larger than a camping tent. 

10. According to a study from Clover dating website Oklahoma City was rated the #1 city in the nation for most unattractive women for 5 years in a row, But the same study found men in Oklahoma to be in the top 5 states for attractiveness.

Some of this post is meant to be funny, but it's also mostly all true. It's resulted in millions of dollars being made and countless real estate gurus. But you just have to be OK with the way things look around here ;)
 

Love this post. Let's throw this in the mix. Many "investors" over pay for properties that underperform. Differ the maintenance on the property to stop the cashflow bleed and hope for appreciation to save the day. Then gloat about how much they made on the exit meanwhile dragging the neighborhood property values and increasing crime the entire time. At what point is this gonna be called what it really is?

@management Love the community on here and want to stay.  @realtors For agents out there that have done it (signed up for agent finder). Can you talk about how it works, results and shed some transparency for everyone to see? Again I'm not trying to get banned from the site but as an EX zillow agency partner Im just trying to be cautious before our team takes on yet another bill that might not be necessary.