I have invested in multi family units in a different state in the past, but am looking to get back into the investing game in Oklahoma City this go around and have a few questions for those in the OKC market. I am primarily looking at single family as I am going for equity only deals where the LTV is good and I am not afraid of fixer uppers. This is my beginning strategy and if all goes well will eventually work my way back into multi family once I am established.
1. What lenders are everyone using? I am looking for lenders that are more relationship than underwriting guidelines. I would love to use those who do little to no down as I would like to spread what I have over multiple properties and not have to tie up large chunks in few properties and yes I will be buying only equity deals so LTV guidelines are okay.
2. What insurance companies are best in the OKC market? I want ones that I can actually make claims on as I'm sure I will be replacing roofs often and only companies that are very cost efficient.
3. For those using Property Management Companies who are best in the market place. I'm not looking for cheap in this area, I'm looking for the best. If they also happen to be cheap at the same time than even better.
4. While those in the area may not want to give up their secrets, how is everyone finding their "deals". I know this is not a quick or easy process as there is always a barrier to entry in every successful investment venture but I am willing to put in the work. I am looking for successful strategies that work in the OKC market.
5. Who is everyone using for their support staff i.e. CPAs, Attorneys, Real Estate Agents, Contractors, Handymen, and so on.
I know these are a lot of detailed questions and greatly appreciate input on any or all of the questions above from the BP folks as I am new to the site but impressed with what I have seen so far. Looks like a great bunch of folks with a ton of experience!
lots of good questions. most of these questions would take alot of room to answer. be happy to chat with you sometime if you like. I am a broker/property manager here in town (not pushing my services though) just like networking with local folks. there is a group of us that get together here approx once a month. @Paul Choate
is the "instigator" of the group but you may want to join up sometime or shoot me a msg and we can chat sometime about okc and all that is going on here.
I just put up the notice for next weeks meeting. Hope to see you there!
Rhett sounds great I'll be in touch.
Paul I may be out of town that Tuesday but if not I would like to be there thank you for the invite.
Welcome to the OKC Market! Glad to have you.
Welcome to Bigger Pockets. BP is full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members which is my favorite part of the website.
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