Buying rental property in Midwest City, OK for cash flow.

[Khanh Tran]

Hi guys, 

My partner and I are going to buy rental property in Midwest city, OK area, with 30% down, hoping to have a good cash flow. We are hoping to rent out for military. We also plan to pay off the property in less than a year. We both live in Seattle, WA so we don't know much the area. We would be very appreciated if you could share your experience/thoughts? 

Thank you!  

[Andrew Garcia]

Hi @Khanh Tran, I would take the highest lender credit possible that you can get from your lender. That will allow you to cover most, if not all, of your closing costs.

You will have a higher rate with this. However, the higher rate does not matter as much since you are only keeping it for a year.

Make sure you have a fantastic on-the-ground real estate agent in Midwest City.

Other than that, you seem to have a sound strategy.

Hope this helps! Let me know if I can be of any assistance.

[Kiera Underwood]

@Khanh Tran congratulations for gearing up to buy! I'm happy to overview what purchasing in OKC looks like for you. We can talk about norms as far as vacancy, maintenance, insurance costs, taxes, city regulations etc. What questions do you have? Excited for you to take the leap in this market! 

[Brendan Harrison]

Midwest city is a great area. I just sold one over there to an investor this week. 

I'm a real estate investment specialist in the Oklahoma City and Tulsa markets and I work with a lot of investors like yourself to help connect them to investment properties. My team is moving 35 properties/month across Oklahoma. I'd love to connect and share some info on the market. Feel free to reach out if you're interested in a phone call at some point!

[Ben Scott]

Midwest City is a great market for rentals. But make sure to avoid anything in the Del City (just south) city limits. The areas can bleed together. Military tenants are great but they can break their lease if deployed. Something to be mindful of. Good luck on your journey! Hit me up for any specialized intel in the OKC market.

[Char Silk]

Good Luck!  MWC is a great area and you can buy good cash flowing properties.  Reach out if you need anything, I have one over on Holly.