All Forum Posts by: Victoria C.

Note: I haven't bought a single property yet, so take this for what it's worth. It seems from other threads I've read that high vacancy rates seem to be a real issue. I've been calculating at 8.3%, which is a one month vacancy every year, and there seem to be a lot of properties that should cash flow MF homes specifically. I've even done some of the properties at a 16.6% vacancy, 10% CapEx, and 10% maintenance, along with Zillow's estimates of fixed expenses and a few still seem to work, and some work very well, on paper at least. One thing that may be worth considering is shorter term leases to attract these army guys that may or may not be stationed there for a full year. I've known a few service members, not in the Lawton area however, and the consensus seems to be that they would have been more attracted to shorter leases so if they get deployed or restationed they're not on the hook for a year lease. Any thoughts here? Anyone already in the market have experience with these issues and found a solution that works?

@Zeke Liston I’m in the Lawton, OK area, it doesn’t seem to need much, if any, but I’m not 100% sure yet. I was able to drive by and check out the exterior some, and I’ve seen pictures of the inside of some of the units and everything looks in order. I can’t personally see the interior until I have a prequalification letter, I guess the owner doesn’t want to disturb the tenants unless someone shows they are serious about buying. Average rent for the area I believe was $662, and the vacancy rate posted by the city is a pretty high 10.7%, but all 4 units are currently rented, and the numbers seem to run even at 16.6% vacancy rate. Obviously that’s not desirable but I think their are some ways to counteract that through proper management. I looked at Zillow Rental Listings and honestly it seems most of the current vacancies are pretty terrible quality, I think back when the military base was bigger people were able to get away with renting out in any condition simply because of the lack of supply, so the bad landlords let their properties get in bad shape, because they were able to rent them out anyway. Then when the draw down happened, people in the area were able to be a little pickier with their living situation. Also in another thread about the Lawton area, there were a few people who basically said they had been invested there, but pulled out because property managers or management companies were pretty much non-existent, I’m nearby the area, and willing to move to Lawton anyway if it would be beneficial to me. So I could manage the properties myself. To be honest I’m a little concerned because of the amount of investment type properties currently available in the area, there’s this 4plex, a 7 unit complex, a 6 unit complex, a 3 unit, a couple duplexes, and I believe another 4plex up for sale, seemingly all priced at points to easily cash flow if the listings are truthful, also l, all the listings seem to say that they are fully rented, but the amount of options makes me concerned the market is oversaturated, that’s the main reason I’m estimating such a high vacancy rate. So I guess, knowing that info, would the high vacancy rate concern you, even if the numbers still work at 16%? Does the amount of good quality MFH’s in the area, priced seemingly low, give an indication that the current market is worse than I’ve considered? 

Sorry for the essay, I always welcome any feedback, but completely understand if that’s too much info to respond to all points. I greatly appreciate any time you spend helping me out. 
 

Out of State.
which others would you suggest?

Would you recommend Denali even now ?

I'm looking for my 1st investment property.