Investing in multi family Properties Oklahoma city

5 Replies

I live in San Diego and I'm looking to invest in multi family properties in areas with good rent/price ratios & stable long term economies. My research has brought me to Florida, Texas, and Oklahoma City. I lived in Oklahoma City for 6 months back in 2009 for initial training in my career so I'm somewhat familiar with the area, and i also love the fact that property taxes are so low. I am mostly interested in quads and am also open to commercial properties (5 units +) if I can find the right deal. I plan on using conventional financing with 25% down however I am also open to paying all cash if I can find a great value property for a BRRRR. I've been reading a ton of books, listening to podcasts, and anaylizing deals for the practice in my free time. I have cash saved up & i am prepared to move fast if I can find the right opportunity. Any advice, strategies, or experiences anyone can share with me in regards to OKC multi family investing would much appreciated!

Cheers!

Originally posted by @Rich Somers :

I live in San Diego and I'm looking to invest in multi family properties in areas with good rent/price ratios & stable long term economies. My research has brought me to Florida, Texas, and Oklahoma City. I lived in Oklahoma City for 6 months back in 2009 for initial training in my career so I'm somewhat familiar with the area, and i also love the fact that property taxes are so low. I am mostly interested in quads and am also open to commercial properties (5 units +) if I can find the right deal. I plan on using conventional financing with 25% down however I am also open to paying all cash if I can find a great value property for a BRRRR. I've been reading a ton of books, listening to podcasts, and anaylizing deals for the practice in my free time. I have cash saved up & i am prepared to move fast if I can find the right opportunity. Any advice, strategies, or experiences anyone can share with me in regards to OKC multi family investing would much appreciated!

Cheers!

Pm me, I can show you some numbers. Not a wholesaler but an investor like you.

When looking at Central OKC multi-families, ensure historic preservation district vs non-historic preservation district. The former will have a significantly higher CapEx and repairs but also higher rents.

Make sure you run your numbers and get some solid rent comps on the quads. There aren't a ton of them out there, and most of the ones that hit the MLS would be unlikely to cashflow much if you end up with financing and budget for cap-ex. Most quads are older, so make sure to keep that in mind as well.

The multifamily space is HOT right now, so have your stuff together and be ready to offer immediately if you see something that hits the numbers you want.

Good luck! 

*Edited to add, you might consider doing delayed financing to make your offers more appealing. That way you could still offer and close with cash, but come in with financing shortly after and pull most if not all of your money out. It's basically an expedited BRRR strategy. Not all lenders are familiar with it, so ask around.