All Forum Posts by: Tyler Flagg

Hey @Mike White welcome to BP! Sounds like you've hit the ground running. What area are you and your wife concentrating on in OKC?

Welcome to BP @Shabree Nichols. The area just outside of the capitol in NE OKC is starting to see some slow improvement. If you're in it for the long haul, you might be able to find some good properties in your price range around there. Best of luck!

@April Cossey welcome to BP! You're in good company...the first house I ever bought was a rental in OKC. As a matter of fact, I still haven't bought a home for myself haha. Maybe when I grow up one day, who knows. Best of luck and enjoy the learning process. Let me know if there is anything I can do to help. 

Hey @Jeff Howard great questions. As for finding potential rental prices, I'd call around to a few different property managers from the neighborhood you're interested in. Ask if they manage houses within that 1 mile square block. If they do, ask to see some information regarding the property (i.e. rent, square feet, bedrooms, baths, etc). Theoretically they'll be happy to give out this information because it might lead to you using their services. 

Hey @Walter M. welcome to BP! Lots of people on here from all of those cities that are more than willing to help. I'm out of state currently, but still invest in OKC because the cash-flow is great, and the city is constantly growing. Feel free to drop me a line if there is anything I can do to help.

Welcome to BP @Mike White 

Lots of people on here from the Greater OKC area. If you have any local questions, feel free to post them in the Oklahoma City Real Estate specific forum. This is a new function that the people at BP created which is really helpful. Best of luck, and let me know if there is anything I can do to help.

Tyler

Welcome to BP! If you have any OKC specific questions, feel free to post them in the Oklahoma City Real Estate Forum. This is an awesome new function that the people at BP just set up.

Best of luck!

Hey @Tyler Brown welcome to BP!...awesome name by the way.

It's definitely not too good to be true. There are plenty of properties still on the market (especially in the midwest) where cash flow is very impressive. The properties I own I bought for about 50k, and they rent for $850/month. So although they don't meet the "2% rule" exactly, they're pretty close at about 1.7%. 

However, there is a caveat to that. Like @Mark Elliott alluded to, cheap properties don't necessarily mean great investments. Lots of new investors will get sucked into buying dirt cheap properties that have great cash flow without factoring in higher maintenance costs, capital expenditures, vacancy, eviction costs etc. 

Take a look at this article written by Ben Leybovich. 

Start running the numbers on a bunch of properties using the BP Rental Property Calculator and you'll quickly get a good idea of which properties will be good investments over the long term. 

Best of luck brother!

@Zach Schmid welcome to BP! I'm currently out of state, but invest in Oklahoma City. It's a great market to be involved in right now, and there are a bunch of active BP members from the city.

Bigger Pockets just created new regional specific forums, so if you have any questions about OKC in particular be sure to post them here.

Best of luck and let me know if there is anything I can do to help.

@Bryan Tilos welcome to BP! I'm an out of state AF guy who invests in Oklahoma City as well. It's a great market to be involved in right now, and there are a bunch of active BP members from the city. 

Bigger Pockets just created new regional specific forums, so if you have any questions about OKC in particular be sure to post them here.

Best of luck and let me know if there is anything I can do to help.