Rental Property Investor · Member since 2021 · 120 posts · 69 votes
Hey yall. Reaching out because I need some thoughts and insights into the OKC market. I've invested in single family in the southeast before. But my eyes are on this market, mostly on simple duplexes. My main goal is cashflow, not appreciation. But I certainly want it to be a worthwhile long term investment as well.
Rental Property Investor · Member since 2021 · 120 posts · 69 votes
2mo
Welp, hit that post button too fast! We’re in a position where we want to cash buy if possible. But is this the type of market where offering cash will get you a deal/discount? I also love the idea based on prices around here of building on well priced land just outside the city center. Based on my knowledge of costs in the area, it’s one of the few places that might pay to build new!
I've been in OKC my whole life and have been investing for 12 years. This is a market where you can still generate decent cash flow, especially if you buy with cash. Obviously, rates are high, so that pushes down cash flow for leveraged properties.
To answer your question, yes, with cash you can get decent deals. We have more inventory than ever (as much of the country does), but it is creating a great buying opportunity. I've helped clients build portfolios, and we regularly get $20k+ off list price.
Long-term, it's a great market; we are seeing solid population growth and have a very stable employment base (as compared to the 80s when we were very reliant on oil). Plus, Dallas is growing, and we are catching some of that growth. The Dallas Metroplex is starting to reach into the far southern counties of Oklahoma; that is only going to continue spreading northwards.
Let me know how we can help. I run a vertically integrated company that can do the acquisition, rehab, and property management.