All Forum Posts by: Zach Sikes

Hi @Michael Ewers!

We're agents, investors, and property managers here in OKC area.

We're seeing inventory start to creep up all over the metro, but prices haven't started coming down yet.  Median and average prices are still up ~2% over 2022 year to date.

Months supply of inventory is growing (up 47%) over this time last year, but there are actually fewer listings (-6%).  This tells us for whatever reason that the demand has started to drop off.   

Hopefully that means more deals for us in 2024.  

The numbers work a bit better in MWC area, but the appreciation hasn't been there historically. We're finding our best luck looking at properties that have been on the market for longer periods of time negotiating them down.

@Daniel Suarez - that many tenants breaking leases that quickly is definitely a flag.  

We're in the OKC market and don't see that happening very often. 

@Melanie P. has the right idea.  Trust the manager, but verify everything.   A good manager will be able to share all communication logs, screening reports, leases, etc.  Look for slow communication with tenants, and find out exactly what they are saying.  Hopefully this is something that can be fixed quickly

Welcome to real estate Mikochi!  

We're brokers + agents + investors + property managers here in Edmond and OKC.  Hit me up if ever want to talk shop or Oklahoma real estate!

Hi all!  We're hosting a training + meet up + happy hour at Homestead & Co + HCO Leasing offices this week! 

We're going to have a discussion on how to leverage current assets to acquire more real estate followed by networking and happy hour.

All are invited - we love to talk real estate investing!

Click here to RSVP

Let's talk rental real estate!

We'll spend an hour covering rental property followed by a happy hour and networking.

What we'll cover:

• Analyzing a rental deal
• Costs to consider when renting to tenants
• Strategies to find and keep good tenants
• Pricing strategies
• Pitfalls to watch out for
• Strategies to keep buying

Click here to register! We love networking and learning with other investors and agents!

This event is for people that are interested in learning more about real estate investing and for agents that want to learn how to work with investors.

Agenda:

4:00 -5:00 Training/Education

5:00-6:30 Happy hour/Networking

What you'll leave with:

• Overview on most common methods of investing
• A familiarization with the terminology
• Plans on how to get started
• Networking with industry pros including lenders, insurance, real estate agents, and property managers.
• Networking with investors
• What investors should expect from their agent

Click here to register!

@Arielle Edwards

Ask both agents what roles they will play. 

Sometimes the “new” agent simply does showings and the original agent evaluates and negotiates with you. 

Sometimes the “new” agent runs the whole transaction…..it depends on their experience. It’s not wrong to get clear on expectations early!

Hi @Arielle Edwards!

This isn’t that uncommon for experienced agents. 

I’m sure you’ve heard a lot of the horror stories of people working with bad agents.  Good agents are hard to come by. 

When you do eventually find good agents, they typically have a good amount of other clients. It’s a good sign that other people are wanting to use them as well. 

We all know that in this market time is of the essence so it makes sense to team up. Agents can burn out extremely quickly working 24/7. 

Good luck on your next investment!

Congrats on passing your test @Account Closed! 

I hope you found a good home to hang your license. 

When I started out in real estate I also went with a "100%" broker.  There is definitely a niche for that type of broker and we have many real estate agent friends that are at those brokerages. However, our experience has shown it can be tough to get going and trained as a brand new agent simply because the brokerage can't afford to put in a ton of resources when they are operating on that slim of a margin.

Most of our hires are new agents or agents that have less than 3 years in the business.  Every time they complete their onboarding I can see their head spinning.  We had a great younger agent join our team 2 1/2 weeks ago and had his first contract on day 14 from an office generated lead. 

The split is different than a 100% brokerage for sure, but we very rarely see an agent that gets going with us that goes back to the 100% model.  It's about how much money they can keep at the end of the day.  We've already made all the mistakes and teach our agents how to avoid the mistakes and pitfalls we made starting out. 

I sincerely hope you are having success.  I do want to ask you one question - have you ever tried to save too much money and it cost more in the long run?  I know we've made that mistake over and over again on property repairs and business tools.  Just something to think about.

Good luck in your real estate career and we hope to see you succeed!

@Alex B.

Great job working towards investing in RE in OK! 

We help a lot investors purchase and manage property, and we get that question a lot.  The short answer is it depends.

We have some great tools to show you exactly where other investors are buying, where the value adds are, and where investment properties are being sold.  Each different area has its pros and cons, so we ask new (or new to the area) investors the following questions:

- What class of property are you comfortable with?

- Do you prefer a lower risk property with lower return or a higher risk property with higher return?

- How many properties do you plan on purchasing in the next 12 months?

- How long do you plan on holding the properties?

- Do you prefer cashflow or appreciation?

- Would you like us to manage the property for you?

Once we get those questions answered we can point you in the right direction.