Investment In Oklahoma

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Investment In Oklahoma

Harvey Corsino

Bristow, VA · Member since 2017 · 40 posts · 8 votes

I am trying to get more info about the state of Oklahoma if it is a good starting place for a turnkey investment.

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Tracy StreichPro Member

Real Estate Broker · Tulsa- OKC Oklahoma · Member since 2017 · 868 posts · 801 votes

Wow! I suppose everyone in Oklahoma is poor white trash living in a trailer and working the oil field. Have you ever been to Oklahoma? Does anyone in your family or you use electricity or drive a car? Oklahoma Does have a high interest in Oil and Gas but that is not the only thing running our economy. Oklahoma is a great place to work, live and invest. If you really don't know the answer to a question and just want to spout your personal theology keep it to yourself. This is a site for investors to share ideas. If sticking to Oregon is your deal. Great for you. Don't be a jerk and leave Oklahoma and the rest of the Midwest to us.

[email protected]918-728-8080

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Larry Fried
Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
9y
Sure, if you believe in the fossil fuel economy is the future. On the other hand, if you think burning dead dinosaurs is the dinosaur of our current age and look to a renewable future, I'd say NO.
Hurricanes IRMA & Harvey - case in point.
6 Reply
Tracy StreichPro Member
Real Estate Broker · Tulsa- OKC Oklahoma · Member since 2017 · 868 posts · 801 votes
9y
Wow! I suppose everyone in Oklahoma is poor white trash living in a trailer and working the oil field. Have you ever been to Oklahoma? Does anyone in your family or you use electricity or drive a car? Oklahoma Does have a high interest in Oil and Gas but that is not the only thing running our economy. Oklahoma is a great place to work, live and invest. If you really don't know the answer to a question and just want to spout your personal theology keep it to yourself. This is a site for investors to share ideas. If sticking to Oregon is your deal. Great for you. Don't be a jerk and leave Oklahoma and the rest of the Midwest to us.
[email protected]918-728-8080
62 Reply
Arlan Potter
Investor/Accountant/Builder · Meno, OK · Member since 2014 · 1k+ posts · 918 votes
9y
I only invest in Oklahoma. A great place to live.
And fossil fuels will be here for all our lifetimes.
8 Reply
Reid Sund
Salem, OR · Member since 2017 · 1 post · 0 votes
9y
Tracy I'm interested in hearing more about the real estate market in Tulsa because when I evaluate the numbers (rent to average purchase price for example) it seems to be a great market.
0 Reply
William Layne
Port St John, FL · Member since 2017 · 11 posts · 7 votes
9y
Downtown OKC is being renovated heavily. Also Aerospace is probably the biggest industry there atm. Investing near college, downtown, or aerospace company(FAA, Tinker, Boeing, Northrop, etc) is pretty good.
5 Reply
John Kunick
Investor · Broken Arrow, OK · Member since 2016 · 210 posts · 314 votes
9y
Larry, what an asinine post. Please stay in Oregon!
17 Reply
Jeff Filali
Rental Property Investor · Broken Arrow, OK · Member since 2016 · 1k+ posts · 1k+ votes
9y
GE seems to think differently...
As a full-time Real Estate Investor, I primarily invest in Texas and Oklahoma, not just because I live here, I've looked into investing in many other states as well, but your money goes so much further here.
The median home price in Oklahoma is $113K with 4% growth rates the past year and a lot of areas are easy to rent for 1-2% rates. The best markets are: Edmond, Norman, Moore, Jenks, Bixby, Broken Arrow, Owasso and other parts of Tulsa & OKC. Also, our property taxes are very low in Oklahoma compared to other states.
MarketWatch's report had Oklahoma City ranked No. 1 and Tulsa right behind at No. 2 best Market in the Nation for First-Time Home Buyers. The 5 worst markets were all in California (Anaheim, Riverside, Stockton, Long Beach, and Oakland).
CNBC reported in their recent report , Oklahoma City was No. 13
WalletHub's , list No. 40 Tulsa, No. 75 Oklahoma City.
This photo shows the same street in downtown OKC in 1997 and 2017. You could compare Tulsa and see similar improvements downtown.
27 Reply
Rodney Miller
Lender · Oklahoma City, OK · Member since 2017 · 138 posts · 130 votes
9y
- Contrary to belief only two out of the top 20 employers for Oklahoma City are energy-related companies, which amounts to only 3% of the workforce.
- Oklahoma City has a great diversity of employment sectors.The City is the seat of government for the State, as well as the county and many regional federal agencies. Two fortune 500 companies are headquartered in Oklahoma City: Devon Energy, and Chesapeake Energy. Top employers include:
- a.Tinker Air Force Base
- b.State of Oklahoma
- c.University of Oklahoma
- d.FAA Aeronautical Center
- e.OU Medical Center
- f.Hobby Lobby
- g.Sonic Corporation
- h.Hertz Corporation
- i.Dell
- j.The Boeing Company
- 2.Here is a breakdown of the top employer sectors in Oklahoma City:
- a.Government 19.2%
- b.Trade Transportation 19.2%
- c.Manufacturing 13.2%
- d.Health and Education 11.8%
- e.Professional and Business Services 11.8%
- f.Leisure and Hospitality 10.0%
- 1.The Oklahoma City metro is experiencing explosive growth!Since 2005 OKC has reported a 1.6% annual growth rate, which is, double that of the national average.The Oklahoma City MSA is approximately 1.38 million and is even faster at 1.66 percent annually, reaching a population of 1.5 million by 2021 and 2million before the year 2040.
- 2.Oklahoma City’s unemployment rate has been among the 25 lowest rates among large metros for the last six years.In January 2017 Oklahoma City’s unemployment rate was 4.1% ranking it in the top ten low rates for large metro areas. Job growth in 2017 is expected to reach .7% or 4200 new jobs added.
- 3.Massive infrastructure and revitalization efforts are transforming Oklahoma City into a vibrant world-class destination and place to live.Downtown Oklahoma City is exploding into one of the fastest-growing entertainment districts in the region. One of the attractions, Oklahoma River Sports is a state of the art $45 million whitewater rafting and kayaking center that opened in 2016 and is home to the US Olympic kayak and canoe team.
- 4.Oklahoma City is consistently voted one of the most affordable places to rent in the country, as well as one of the best places to invest in real estate.
- 5.Studies have shown that millennials are flocking to Oklahoma City.Oklahoma City was voted among the top 10 cities that are attracting millennials as well as the 7th best cities to start a career.Millennials are adults age 20-35 years of age.Studies show that millennials boost economies.
- 6.Oklahoma City has received numerous awards such as:
- a.2017-Top-10 major markets for housing affordability(Demographia)
- b.2017- Top 10 US cities where everyone wants to live (Business Insider)
- c.
- d.2016-Top-10 among large cities for recession recovery (WalletHub)
- e.2016-Top Metros for wage growth over the past decade (Forbes)
- f.2014- 1st in best city to start a business in (Kiplingers)
- g.2016-Best cities for workforce (Global Trade)
- h.2016 -among the top cities rebounding from the recession (CNBC)
- i.2016-ranked number 1 for quality of life (Business Facilities)
- j.2016 ranks number 1 for Women entrepreneurs (Merchant Cash USA)
- k.2016 ranked number 8 for millennial home population(Smart Assett)
- l.2016-Best bang for your buck housing market (Angie’s List)
- m.USA Today Reported,” Since 1999 the number of Californians departing the Golden State for Oklahoma has outnumbered those going the opposite direction by more than 21,000….The influx of Californians is a sign of Oklahoma’s growing economicprowess.”
@Larry Fried Oklahoma Sucks you definitely want to stay in Oregon
21 Reply
Deborah BurianPro Member
Rental Property Investor · Oklahoma City, OK · Member since 2013 · 1k+ posts · 412 votes
9y
Ditto absolutely everything @Rodney Miller said above.
0 Reply
Jason Turo
Investor · Norman, OK · Member since 2017 · 101 posts · 34 votes
9y
Hi there @Harvey Corsino. I just moved to Norman, OK from out of state and I do see recent growth and inflated prices in the area (OKC and Norman), but not so much inflated rents. I am working to get familiar with the local areas, their rent rates, and vacancies. If I was investing from out of state, I could see how I could get persuaded into a higher rent/price ratio without actually knowing the areas. Albeit I am relatively new to the area, I've seen some houses wholesalers are promoting would rent for $1000 after repairs, however the market is showing 60% of that at best. Basically have to know the numbers!
If anyone in the area would like to get together to chat about rental rates in the Norman area, send me a quick message.
8 Reply
Thomas Graham
Investor · Oklahoma City, OK · Member since 2016 · 48 posts · 31 votes
9y
John Kunick no need for political talk. Both your comment and initial reply are out of place in this discussion.
6 Reply
Scott England
Rental Property Investor · OK · Member since 2015 · 316 posts · 216 votes
9y
My guess is Larry Fried is an Ohio State alumnus.
11 Reply
Lisa Williams
Real Estate Agent · Tulsa, OK · Member since 2016 · 88 posts · 72 votes
9y
Ok boys, play nice! It's good to educate people to the great opportunities for investing here in OK but let's not ruin it with those ugly political comments! Thanks, Jeff for sharing some great info for those of us here and others who are considering getting into our market. I do agree that the rental market here in Tulsa seems to be cooling lately, as I have 2 investors who have properties sitting out there for lease. I am monitoring closely!
3 Reply
Rhett TullisBusiness Member
Property Manager · Oklahoma City, OK · Member since 2013 · 1k+ posts · 617 votes
9y
@Jason Turo never believe what a wholesaler tells you the arv is on a house or what it will rent for in okc. i have never seen one that does not overstate it. the only good one i have worked with does not even try to tell me that he just lets me know the asking price, i already know the rest better than him and he knows it.
[email protected]405-283-6522
Integrity Oklahoma
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5 Reply
Jason Turo
Investor · Norman, OK · Member since 2017 · 101 posts · 34 votes
9y
@Rhett Tullis Definitely!
1 Reply
William Layne
Port St John, FL · Member since 2017 · 11 posts · 7 votes
9y
I moved there a little over a year ago and Norman was being heavily built up. There was a lot of talk about too much housing being built when I was touring with realtors. I noticed a ton of luxury stores and new shopping centers being built in northern Norman as well.
Some misc info that may be helpful: I was able to rent a brand new "luxury" apartment for around 820 a month. I believe by the time I moved away (~6months later) they were going for around 1050 a month.
2 Reply
Mike ReynoldsPro Member
construction · Nacogdoches, TX · Member since 2011 · 2k+ posts · 1k+ votes
9y
Lots of Okies around here. I feel like I just stepped into a Merle Haggard song. Well, I am from Texas so I am partial to living here but I went up that way last summer and have been seriously considering some investment up that way. Its pretty country and some great deals. I saw lots of improvements in the areas I went to from the last time I was up that way. Thinking about some STRs. If I do y'all move those dinosaurs out of the way so I can get up there please.
2 Reply
Account Closed
Investor · Oklahoma City, OK · Member since 2008 · 28 posts · 3 votes
9y
I invest in OKC and live out of state. I also believe the fossil fuel industry is going to get hit hard over the next 20 years, but I still believe in OKC for many of the reasons Rodney Miller kindly provided.
I also lived there 10 years and have seen much of the transformation with my own eyes.
1 Reply
Rodney Miller
Lender · Oklahoma City, OK · Member since 2017 · 138 posts · 130 votes
9y
Just to add to the conversation....I was in Ponca City ( 1 hour north of OKC) yesterday and there are wind turbines going up everywhere. I called the Ponca Chamber and they confirmed that there is a large expansion in wind energy taking place in that area right now.
1 Reply
Nick Stageberg
Rental Property Investor · Rochester, MN · Member since 2016 · 45 posts · 25 votes
9y
Fully agree with @Rodney Miller's post. The transformation OKC has seen over the last 20 years is incredible, and its economy is far more diverse than most imagine. Aerospace, Finance, IT, and Healthcare are all very large sectors.
I also personally see Oklahoma as being a massive hub of innovation within the energy industry. For better or worse, Oklahoma pioneered fracking horizontal drilling, and the myriad logistics innovations needed to sustain them in the most rugged places on earth. Oklahoma is at the forefront of wind energy and natural gas, and I have a strong suspicion those aren't going anywhere soon.
My principle concern regarding the long term outlook for appreciation on my properties in Oklahoma is the state of its public education system.
3 Reply
John Kunick
Investor · Broken Arrow, OK · Member since 2016 · 210 posts · 314 votes
9y
@Nick Stageberg, agree about education. That is why I choose to stay out of certain school districts and prefer to focus on others. There is definitely an exodus from more urban districts into more suburban ones.
0 Reply
Deborah BurianPro Member
Rental Property Investor · Oklahoma City, OK · Member since 2013 · 1k+ posts · 412 votes
9y
@Rodney Miller - I think that Ponca wind farm is where Budweiser just made a HUGE sustainable energy buy.
0 Reply
Harvey Corsino
OP
Bristow, VA · Member since 2017 · 40 posts · 8 votes
7y
Thank you for all the replies. After one year I am finally getting one rental property in Oklahoma. This is my first one in OKC. The area is Moore OK 73170. Anyone here who has a rental property on that area? One thing that is nice about this property is the location. It is very close to school and commercial area. Close to interstate going to Downtown OK. Any info about the crime rate and vacancy rate.
0 Reply
Kiera Underwood
Real Estate Agent · Oklahoma City, OK · Member since 2019 · 956 posts · 600 votes
7y
@Harvey Corsino I factor 5% vacancy and crime won't be an issue in Moore. It's all A/B class! Schools are great there. When I see properties off market that are in Moore they typically go that day! I hope you got a deal! What's your purchase price/rent rate?
1 Reply
Marcello Oliveri
Investor · Paso Robles, CA · Member since 2016 · 106 posts · 31 votes
7y
@Harvey Corsino
Hey Harvey, I hope all is well. How did that investment property go? Are you still rented? Is it cash flowing? I hope you are doing well :)
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