Investment In Oklahoma

Investment In Oklahoma

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
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.
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  • Specialist · Edmond, OK · Member since 2008 · 12 posts · 10 votes
    7y

    Oklahoma City is a hidden gem for many reasons @Harvey Corsino

    I listed some demographic stats and some other resources from Census Bureau and ACS, and Plums dataset that you might find helpful.  My company owns and operates 430 doors and purchasing assets of 356 beds and 250 doors for a total of 606 in Oklahoma City and Weatherford with our partners. I have lived in Oklahoma my entire life and we are widely considered "recession-proof" from outsiders. We kept appreciation during the last recession 2-3% which is pretty phenomenal. My Company closes on hundreds of single-family properties in Oklahoma Greater Metro (made up of 10 counties) each year. I also invest in 70+ multifamily apartments in around 75 miles of Oklahoma Metro.  

    I hope this data and resources help serve you.

    OKLAHOMA CITY, OK

    POPULATION

    1.38M

    0.767% GROWTH

    MEDIAN AGE

    35.2

    MEDIAN HOUSEHOLD INCOME

    $56,260

    2.17% GROWTH

    POVERTY RATE

    14.6%

    NUMBER OF EMPLOYEES

    666,609

    2.58% GROWTH

    MEDIAN PROPERTY VALUE

    $156,800

    1.69% GROWTH


    Median Household Income

    $56,260

    2017 VALUE

    ± $1,403

    2.17%

    1 YEAR GROWTH

    ± 2.99%

    Households in Oklahoma City, OK have a median annual income of $56,260, which is less than the median annual income of $60,336 across the entire United States. This is in comparison to a median income of $55,065 in 2016, which represents a 2.17% annual growth.

    Look at the chart to see how the median household income in Oklahoma City, OK compares to that of it's neighboring and parent geographies.

    Income by Location

    Use the dropdown to filter by race/ethnicity.

    TotalWhiteBlackNative AmericanAsianOtherTwo Or MoreWhite Non-HispanicHispanic

    HIGHEST MEDIAN HOUSEHOLD INCOME (TOTAL)

    1. Canadian County, OK
    2. Cleveland County, OK
    3. Rogers County, OK

    In 2017, the county with the highest Median Household Income (Total) in Oklahoma City, OK was Canadian County, OK with a value of $74,720, followed by Cleveland County, OK and Rogers County, OK, with respective values of $61,213 and $60,735.

    The following map shows all of the counties in Oklahoma City, OK colored by their Median Household Income (Total).

    Employment by Occupations

    667k

    2017 VALUE

    ± 13,391

    2.58%

    1 YEAR GROWTH

    ± 2.73%

    From 2016 to 2017, employment in Oklahoma City, OK grew at a rate of 2.58%, from 650k employees to 667k employees.

    The most common job groups, by number of people living in Oklahoma City, OK, are Other Management Occupations Except Farmers, Ranchers, & Other Agricultural Managers (40,621 people), Material Recording, Scheduling, Dispatching, & Distributing Workers (18,598 people), and Driver/Sales Workers & Truck Drivers (17,974 people). This chart illustrates the share breakdown of the primary jobs held by residents of Oklahoma City, OK.

    Employment by Industries

    667k

    2017 VALUE

    ± 13,391

    2.58%

    1 YEAR GROWTH

    ± 2.73%

    From 2016 to 2017, employment in Oklahoma City, OK grew at a rate of 2.58%, from 650k employees to 667k employees.

    The most common employment sectors for those who live in Oklahoma City, OK, are Health Care & Social Assistance (89,596 people), Retail Trade (83,828 people), and Educational Services (58,025 people). This chart shows the share breakdown of the primary industries for residents of Oklahoma City, OK, though some of these residents may live in Oklahoma City, OK and work somewhere else. Census data is tagged to a residential address, not a work address.

    Domestic Production & Consumption

    Domestic production and consumption consists of products and services shipped from Oklahoma to other states, or from other states to Oklahoma.

    Domestic Production in DollarsDomestic Production in TonnageDomestic Consumption in DollarsDomestic Consumption in Tonnage

    TOP DOMESTIC PRODUCTION IN DOLLARS

    1. Coal-n.e.c.

      $52.4B

    2. Fuel oils

      $21.4B

    3. Gasoline

      $19.2B

    In 2015, the top outbound Oklahoma product (by dollars) was Coal-n.e.c. with $52.4B, followed by Fuel oils with $21.4B and Gasoline and $19.2B.

    The following chart shows the share of these products in relation to all outbound Oklahoma products.

    Domestic Trade Growth

    Showing data for Oklahoma state.

    Domestic Production in DollarsDomestic Production in TonnageDomestic Consumption in DollarsDomestic Consumption in Tonnage

    $220B

    2015 VALUE

    $309B

    PROJECTED 2045 VALUE

    40.6% growth

    In 2015, total outbound Oklahoma trade was $220B. This is expected to increase 40.6% to $309B by 2045.

    The following chart shows how the domestic outbound Oklahoma trade is projected to change in comparison to its neighboring states.

    Citizenship

    95.6%

    2017 CITIZENSHIP

    95.1%

    2016 CITIZENSHIP

    As of 2017, 95.6% of Oklahoma City, OK residents were US citizens, which is higher than the national average of 93.1%. In 2016, the percentage of US citizens in Oklahoma City, OK was 95.1%, meaning that the rate of citizenship has been increasing.

    The following chart shows US citizenship percentages in Oklahoma City, OK compared to that of it's neighboring and parent geographies.

    Property Value

    $156,800

    2017 MEDIAN

    ± $2,421

    $154,200

    2016 MEDIAN

    ± $2,351

    In 2017, the median property value in Oklahoma City, OK grew to to $156,800 from the previous year's value of $154,200.

    The following charts display, first, the property values in Oklahoma City, OK compared to it's parent and neighbor geographies and, second, owner-occupied housing units distributed between a series of property value buckets compared to the national averages for each bucket. In Oklahoma City, OK the largest share of households have a property value in the $150k - $175k range.

    Property Taxes

    $800 - $1,499

    AVERAGE RANGE

    This chart shows the households in Oklahoma City, OK distributed between a series of property tax buckets compared to the national averages for each bucket. In Oklahoma City, OK the largest share of households pay taxes in the $800 - $1,499 range.


    Rent vs Own

    63.5%

    2017 HOMEOWNERSHIP

    63.3%

    2016 HOMEOWNERSHIP

    In 2017, 63.5% of the housing units in Oklahoma City, OK were occupied by their owner. This percentage grew from the previous year's rate of 63.3%.

    This percentage of owner-occupation is lower than the national average of 63.9%. This chart shows the ownership percentage in Oklahoma City, OK compared it's parent and neighboring geographies.


    Remember... be a servant,

    Cory Boatright
    Investing Capital Group

  • Will FraserPro Member
    Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
    7y

    @Harvey Corsino hey Bro! Hit me with any questions you have. I love OKC and can guide you through any questions you have.

  • Bristow, VA · Member since 2017 · 40 posts · 8 votes
    7y

    Thank you for all your replies. But I back off from the deal. I end up getting a single house property in Memphis.

  • Rental Property Investor · Oklahoma City, OK · Member since 2017 · 1k+ posts · 694 votes
    6y

    @Harvey Corsino thank you for keeping us all in the loop! How do the numbes look on your Memphis deal? 

  • Los Angeles, CA · Member since 2015 · 28 posts · 6 votes
    6y

    Just want to see if investing in OKC , Norman - still a good choice ? 

  • WorldWide · Member since 2016 · 1k+ posts · 1k+ votes
    6y
    Originally posted by @Account Closed:

    Just want to see if investing in OKC , Norman - still a good choice ? 

    What properties are you after? Multi, single? Norman has a ton of student housing (think large apartment complexes), but deals on multis (2/3/4 plexes) still come around. I just don't know enough of the supply/demand in that location. OKC is growing, as are suburbs around it, so the opportunity is always there. I would refine your question and zero on on what kind of properties you're after and what strategy you want to use (rentals, brrrr, flips, etc.). 

  • CA · Member since 2017 · 73 posts · 15 votes
    6y

    @Larry Fried hurricanes don’t happen in Oklahoma

  • Rental Property Investor · Oklahoma City, OK · Member since 2017 · 1k+ posts · 694 votes
    6y

    @Account Closed it's a low-risk cash flowing market. If you're hoping for single family buy and hold, tenants already in place, little work in order to keep market rent rates.. it's a great place! If you're pursuing multifamily or BRRRR deals they're tougher to pull off here right now.

  • Investor · Irvine, CA · Member since 2009 · 259 posts · 183 votes
    6y

    OK is a state? where in OK?

    I have been investing on and off in OKC for 15 years. I'm not local to OKC/OK. Mainly in nice areas (Norman, Edmons, Yukon, Piedmont, Mustang, OKC NW) and nice communities.

    As much as I like OKC as an area as an investor it has done very little growth-wise vs so many other areas I have invested in. , and for that reason, I decided to not focus on OKC.

    I'm sure mu OK friends 

  • Member since 2019 · 42 posts · 10 votes
    6y

    @Dani Beit-Or So which markets do you prefer over OKC / OK generally in terms of cash flow and appreciation? 

  • Investor · Irvine, CA · Member since 2009 · 259 posts · 183 votes
    6y

    @Nidal Daraiseh these day we are active in Nashville, KC MO, Houston and DFW

  • Member since 2019 · 42 posts · 10 votes
    6y

    @Dani Beit-Or thanks. I'm also looking at KC and Houston. Cheers. 

  • San Antonio, TX · Member since 2019 · 930 posts · 836 votes
    6y

    I'll be relocating to OKC for work in a month or so. Does anyone from that area have any recommendations for REI meetups or the like? I would be happy to connect with other investors on here involved in the OKC metro.

  • Realtor · Edmond, OK · Member since 2019 · 123 posts · 79 votes
    6y

    I highly recommend "Coffee with Real Estate investors." They meet every first Wednesday of the month at starbucks on memorial road and MacArthur. You can find out more info on the event at meetup.com.

    @Kris L.

  • Rental Property Investor · Oklahoma City, OK · Member since 2017 · 1k+ posts · 694 votes
    6y

    @Kris L. I know some full-time real estate investors that really like the millionaire meetup. Even if you don't like it, it seems like the type of investors worth meeting go to that one! 

  • Member since 2019 · 7 posts · 0 votes
    6y

    I am investor in Los Angeles, never been to Out Of States. Want to find out if Moore OK is a good city to invest? Is it a tornadoes city? Want to get more local insight? Thanks 

  • Rental Property Investor · Oklahoma City, OK · Member since 2017 · 1k+ posts · 694 votes
    6y

    @Tracy Tsoi I haven't seen insurance rates be substantially higher in Moore. Moore is a great target for a more B class suburb, it's just finding the deals there that might be the challenge. For instance, I saw around 180 deals in the Midwest City, Del City, south OKC area last year.. I saw maybe 4 in the Moore area. So, it happens, but you've just got to gear up to pull the trigger as the numbers look good! 

  • Member since 2020 · 9 posts · 7 votes
    6y

    Curious how COVID and this year’s  pummeling of the energy markets has affected rentals in OKC and Tulsa?  You guys seeing much of a change?

    How about rentals in Norman with OU shuttered?

    Anyone see some bargains popping up in the next few months??

    Thanks!

  • Rhett TullisBusiness Member
    Property Manager · Oklahoma City, OK · Member since 2013 · 1k+ posts · 617 votes
    6y

    on the purchase side everything is overpriced, multi offer almost every time.  going for prices that make the deals not that great.

    on the rental side things are moving as fast or faster than ever, mostly due to low inventory i think.  rates are higher than pre covid for sure and renting faster with more applicants.

    kinda a crazy market right now.  might be the total opposite in 6 months though no telling how unemployment and lay offs will hit in the near future.

  • Member since 2020 · 9 posts · 7 votes
    6y

    Overpriced seems to be a common theme nationwide right now. 😞 

  • Investor · Irvine, CA · Member since 2009 · 259 posts · 183 votes
    5y

     anyone looking to work w a true PRO and honest person in OKC for management and acquisition @Rhett Tullis is a great person to work with, speaking from extensive personal experience. 

  • Rhett TullisBusiness Member
    Property Manager · Oklahoma City, OK · Member since 2013 · 1k+ posts · 617 votes
    5y

    @Dani Beit-Or thanks i appreciate the recommendation.  

  • Real Estate Agent · Oklahoma City, OK · Member since 2020 · 471 posts · 462 votes
    5y
    Originally posted by @Larry Fried:

    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.

    That has to be the most Eugene thing I've ever heard, liberal rhetoric with no substance, c'mon man! All jokes aside, do you know where Oklahoma is on a map? Hurricane IRMA??? Okay Okay I'M SORRY, there are tornadoes.. sometimes. I am a born and raised Oregonian, please represent us better, I am sick of having to explain my peeps to everyone out here in the oil fields! If you want some recent data on OK, specifically OKC, I will repost something I borrowed (stole) from another post.

    • 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)

    You know I love you man! Go Ducks!

  • Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes
    5y

    @Forrest Faulconer Great post! Its tough to argue with factual data. But OKC isn't for everyone and we definitely don't need MORE competition for properties! So folks like @Larry Fried should continue to stay away!

  • Investor · Louisville, KY · Member since 2020 · 52 posts · 42 votes
    5y

    @Larry Fried if you have no interest in Oklahoma, why are you trolling a question about Oklahoma? He's asking people who actually have knowledge of the Real Estate market in Oklahoma.

    If I need advice about a car, I ask a mechanic. I don't ask the plumber next door who's mad at the mechanic's shop for fixing cars.

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