Flipper/Rehabber · Portland, OR · Member since 2015 · 27 posts · 10 votes
I was wondering if anyone out there is in the Lawton market and what you all think of it’s vibrancy. I’m snooping around that area and would love to get a boots on the ground report and opinion. Thanks in advance!
Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes
4y
@Charles Flaxel Vibrant is not a word I would use to describe Lawton, OK. I'm sure there's money to be made there in real estate, but it seems to be heavily reliant on one industry (Army) which is a red flag for me when it comes to evaluating markets.
Investor · Eastern ID · Member since 2017 · 69 posts · 53 votes
4y
Lawton has struggled with low occupany and low rents, but from my prospective, the market has picked up somewhat over the last few years. What type of investments are you looking for?
Investor · Louisville, KY · Member since 2020 · 52 posts · 42 votes
4y
@Charles Flaxel
I currently live in Lawton. I don't have any properties besides my primary residence yet, however I've been keeping an eye on the market. Rents are low, so buy and hold is probably not the best strategy.
There is a lot of money in short-term rentals though. Fires personnel come from all over to attend schools and events on Fort Sill. Military housing is at high occupancy on-post, making various home displacements more common off-post in hotels or short term rental homes.
Small multi-family homes vary in neighborhood types, but the majority of them (but not all) are in a low to middle class area, raising the chances of getting unappreciative or undesirable tenants.
As I mentioned earlier, I have no properties and only watch the market for now. I may not have information others have that invest here, but to the best of my knowledge everything above is accurate.
Flipper/Rehabber · Portland, OR · Member since 2015 · 27 posts · 10 votes
4y
Hey @James Guillot. Thanks for your insight. The short term rental piece is very intriguing. I wonder if the base over flow will continue into the future?
Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes
4y
@Charles Flaxel Vibrant is not a word I would use to describe Lawton, OK. I'm sure there's money to be made there in real estate, but it seems to be heavily reliant on one industry (Army) which is a red flag for me when it comes to evaluating markets.
Investor · Kaiserslautern, Germany · Member since 2017 · 77 posts · 25 votes
4y
I agree with @James Guillot 100%. I’ve lived here for 4 years and have been watching the market closely. I have been hesitant to pull the trigger on anything, but we finally are in the processing of purchasing a cheap duplex we’re gonna see how it works out for short-term rentals. I’ve helped managed a few short term rentals that have been filled with military families waiting for housing to open up or waiting to close on their home purchases. Another common thing is families coming for graduations since this is a training base. Renting an AirBnB usually is a better deal for them than a hotel because they get a whole house for around the same price or cheaper.
There are travel nurses & people who come from overseas for training who book for the full price sometimes for 3-6 months.
Rental Property Investor · Houston, TX · Member since 2020 · 71 posts · 13 votes
4y
i have been investing in lawton , going on the 3rd year here , good market , but very tricky on areas , very chopped up areas ( good /bad ) but get with a good realtor and they can help , money to be made , still here investing , out of Houston Tx
Edmond, OK · Member since 2012 · 53 posts · 63 votes
4y
I’m two months into my Lawton adventure. I bought a 7 house portfolio from a private seller. All older, mostly 3/1’s ~1,000 - 1,200 sqft. But all well maintained with central heat and air.
5 of the 7 were vacant. My PM covers OKC and Lawton. She aims high and typically locks in top tier tenants. The mom and pop previous owners had been renting for ~$700/door. We’ve leased 3 out of the 5 for $1100 now. Still two vacancy’s. I’m at a crossroads and defaulting to my PM. I’d factored higher vacancy but also ~$900/door. I had expected lease up to be slightly faster.
Overall, off to a great start. Will be running at a 20 cap if we get all 7 to $1100, which I think is possible.
i have been investing in lawton , going on the 3rd year here , good market , but very tricky on areas , very chopped up areas ( good /bad ) but get with a good realtor and they can help , money to be made , still here investing , out of Houston Tx
Micheal , what area is the houses located ? sounds good , the rent is going up in Lawton ,
i have been investing in lawton , going on the 3rd year here , good market , but very tricky on areas , very chopped up areas ( good /bad ) but get with a good realtor and they can help , money to be made , still here investing , out of Houston Tx
Micheal , what area is the houses located ? sounds good , the rent is going up in Lawton ,
They’re literally all over the map. Mostly NW addresses. One SW, which is my only 4/2 and it’s proving the hardest to lease.
Don’t think I have any in ‘Old Town’ or whatever they call that area.
I’d agree that short-term rentals probably make more sense in the Lawton area right now. From what I’m seeing, the market does seem to be trending in a positive direction, which is a good sign. That said, I think it may still take a few years before we see more consistent growth in long-term rental rates.