All Forum Posts by: Tyler Flagg

Welcome to BP @Krista Crout! Congratulations on starting your real estate investing journey. I've been out-of-state investing in OKC for a bit now, all while deploying multiple times every. It's not easy, but it can totally be done. 

Here's my immediate advice. When you're searching for a real estate agent/property manager...be sure to find ones that are technologically savvy. Since you're overseas, it'll be a necessity that you can communicate via e-mail and skype, as well as to digitally sign paperwork during the process.

Best of luck! Let me know if there is anything I can do to help.

Welcome to BP @Susan Iwertz. Sound like you and your husband have the makings of a real estate power couple! Congratulations on getting started and I wish you both the best of luck. 

Welcome to BP @Ray Roman! We've got a pretty active group of people from OKC here on Bigger Pockets, so hopefully you can get all of your questions answered. If you want to start a conversation about OKC specifically, feel free to post in the Oklahoma City Real Estate Forum. Best of luck and let me know if there is anything I can do to help. 

Hey @Russell Roundtree welcome to BP! Unfortunately, I don't know anyone who flips in Norman, so I can't be of much help. However, just like Rhett mentioned, check out the OKCREIA as well as Millionaire Possibilities. They are both Oklahoma City centric real estate investment groups, and I'm sure you'll be able to make some valuable contacts there. Best of luck! 

I agree with both Rhett and Scott on this one. All three of my properties are in the Inner Northwest area of OKC. With that being said, I wouldn't rule out the Capitol area or the Inner South West in the future. OKC is dumping a lot of money into those areas thanks to the "core-to-shore" project as well as some other revitalizing efforts. So 2020 Oklahoma City is bound to look a lot different from 2015 Oklahoma City. Best of luck.

Great post @John Lindemann! I feel your pain and have gone through similar bouts of frustration over the last year and a half. Looks like we have some similar trajectories...I have three properties myself in Oklahoma City and look to start buying significantly more in about 6 months. Keep up the great work and hopefully I'll bump into you around town some day.

Hey @Tim Cooper welcome to BP!

Wow. That's a lot of traveling! Although I'm sure it gets tiring, it must be cool getting to experience new cities so frequently. As for what your real estate course of action should be, let me take a stab at it real quick.

I move every 3 years...not quite as often as every 2 months like yourself, but close enough right? When I first started thinking about my strategy, I figured it would be smart to buy a few properties everywhere I go. But then in 10 years, I'd have houses scattered in 3 different cities. That means 3 different property managers, 3 different contractors, 3 different real estate agents (you get the point). Sounds like a pain to me. Now, I know people who do it and do it successfully, but that wasn't my idea of a "passive" investment.

Instead, I decided that regardless of where I move I'm going to concentrate on one particular city. Since you're technically always going to be an "out-of-state" investor due to the amount you travel, you might as well become an expert on just one city instead of many. 

Ideally, choose somewhere that you might want to live one day. So that whenever you're sick of being a leasing/marketing consultant you can take up residence there and be near your properties for once.

It's really all about personal preference and comfort level. 

Well hopefully this helped. I have a tendency to ramble haha. Best of luck Tim!

Hey @Landon Dean welcome to BP! I'm in a very similar situation myself, so I feel your pain.

I'm a semi out-of-state investor and bought 3 SFHs in OKC last year using conventional mortgages on all three. On the upside, conventional mortgages are a great way for new investors (like us) to learn about buying houses correctly. On the downside, they cost a substantial amount of coin in order to get those lessons. I wrote a blog post about this a while back.

So here's the way I see it. Now that we're comfortable with the process, it's time to start using some of the creating financing techniques out there in order to purchase properties in a cheaper fashion. Because putting 20-25% down sucks...and it's not a very scalable model. Check out The Book on Investing in Real Estate with No (and Low) Money Down by Brandon Turner.

It does a great job of outlining stuff like owner-financing, portfolio loans, and private money as an alternative to conventional mortgages. 

As for the "to pay down a mortgage, or to not pay down a mortgage" question, check out the #AskBP Podcast Episode 82. 

Hope this all helps. Best of luck man!

If you haven't already, touch base with @Tyler Weinrich. He's a BP member and wholesaler in the Yukon area. He might be familiar with the neighborhood and able to point you in the right direction. 

Hey @Levi Carter welcome to BP, and congrats on your first flip! Lots of people on this website from OKC, so feel free to reach out if you have any questions. The Oklahoma City Real Estate Forum is a great place to start. Best of luck and let me know if there is anything I can do to help.