Rental Property Investor · Paso Robles, CA · Member since 2019 · 10 posts · 3 votes
Hi Oklahoma City!
New to BP and am looking for advice in the OKC market. I am working toward my first rental investment and hoping to BRRRR a property and keep the ball rolling to build a buy and hold portfolio. 100k cash budget to get started.
What neighborhoods in OKC are good and where should I stay away from? (hard to tell from crime maps).
Is it better to stay in OKC or focus on any particular suburbs?
Rental Property Investor · Edmond, OK · Member since 2017 · 1k+ posts · 1k+ votes
7y
Hey @Joe DeClue! Welcome to the OKC investing scene. I will say that it's getting increasingly difficult to find deals where BRRRR will be possible. A lot of the investors that I work with really like Midwest City for houses under the 100k purchase price. It's a stable C class rental market with plenty of job growth predicted. There are more opportunities for equity deals in certain parts of OKC, but as mentioned above they are typically going to be in D class rental neighborhoods with the issues associated with D class rentals. The current OKC market is positioned more favorably for investors to buy and hold rather than BRRRR. Most of the houses (even off market and with work needed) are selling for close to 90% of ARV once you factor in repair budgets. These homes still hit solid cash on cash returns and monthly cash flow, but they don't typically hit the equity numbers that you will need to do a BRRRR.
New to Real Estate · Member since 2021 · 16 posts · 0 votes
5y
@Chris Cooper Do you have any lender recommendations for 2-4 units and insurance companies so we can get some quotes? I would love to know more about landlord/tenant rules if you have a breakdown as we do here in LA. There are so many rules here, I have many fact sheets and data resources for LA if anyone needs it. thank you