New construction vs existing SFH

[Armando Molina]

Hello, I'm a newbie "buy and hold investor" in Oklahoma City and would like to get your option on buy and hold new construction vs existing SFH. I'm looking to buy in the 150k range and rent for 1,200 to 1,400 / mon. Possibly list it in VRVO for $125 per day. Existing SFHs in the 0 to 15 year-old range are typically close in price to new construction homes and when I factor in rehab cost they seem to come very close. 15-30 year-old existing SFH are in neighborhoods with lots of rental competition. Some streets seem nice and clean and others very run down. On the other hand New construction SFHs do not give you much equity but it might be a wash when factoring in rehab of existing homes. Home Builders are also offering almost 10k in year-end incentives such as fencing, blinds, appliances, etc. Lastly, there is very little rental competition. I would appreciate your feedback on the pros and cons of both strategies. Thank you in advance, Armando

[Rhett Tullis]

be careful buying a rental in edmond right now.  take a look at your competition on zillow and make sure you can beat them on price before you buy.