Newbie near Tulsa, Oklahoma

7 Replies

Greetings BP Family! 

My Name is Erik Henderson and I live in Sapulpa, Ok. (Near Tulsa). I am new to real estate investing but have always wanted to learn more about it. I am excited to learn and build relationships with you all. I have been apart of Bigger Pockets since January/2019. I have currently reread Rich Dad Poor Dad, and read The Richest Man in Babylon, and the New BRRRR Book by David Greene (Awesome book by the way!) I highly recommend all these. I have quite a few others on my list to read as well. I stumbled across Bigger Pockets doing a Google search for investment opportunities. I have always heard that the best way to invest is through Real Estate and that, that is what all the Rich people do. Once I found Bigger Pockets my mind has been blown. I am soaking up all the information I can right now. I really like the BRRRR Method and plan to use it to start my journey in Rental Property Buy & Hold. My first goal is to replace my income within 5 years with single and multiplexes, etc. The rest of my goals are far bigger than that with multifamily, 100+ unit apartment complexes, etc. The sky is the limit.

I want to thank Bigger Pockets for doing what they do! I am amazed at all the education, and willingness I have seen so far. You are Definitely changing lives and if you are reading this. You are apart of that!

Anyway, I look forward to meeting you all and starting down this journey. Let me know if there is anything that i can do to help. I know i am just getting started but am willing to try and assist if I can. 

Hope you all have a great day!

Hi Erik! Congratulations on taking the first step into your real estate education. Bigger Pockets is a great resource and it looks like you are well on your way down a great reading list. 

Keep it up and feel free to reach out if there is ever anything you need help with. Real estate is such an exciting adventure. 

@Erik Henderson it's tough at least in OKC with how stable the market is. There just aren't many properties that are priced undervalue enough but not too distressed where you've got enough room to build in a flip and still come in undervalue. When the market turns you'll be able to do it all day, but right now, I'm mostly seeing great cap rates and price points at 5% undervalue and that's if you're working off market. You can totally do it! You can force any strategy, but the amount of time/energy to find that deal is going to be much higher than taking what the market is offering right now. 

Originally posted by @Alyssa Dyer :

@Erik Henderson it's tough at least in OKC with how stable the market is. There just aren't many properties that are priced undervalue enough but not too distressed where you've got enough room to build in a flip and still come in undervalue. When the market turns you'll be able to do it all day, but right now, I'm mostly seeing great cap rates and price points at 5% undervalue and that's if you're working off market. You can totally do it! You can force any strategy, but the amount of time/energy to find that deal is going to be much higher than taking what the market is offering right now. 

 Alyssa,


What type of investing do you recommend in Tulsa at the moment? 20% down for cash flow? Multi families? Any cities you would recommend that suit the BRRRR strategy?

@Damian Gutierrez Tulsa isn't my specialty but I'd look for cash flowing deals. 20% down for cash flow is what most investors are doing in OKC. Multifamily is tough here and I've talked to agents confirming it's tough in Tulsa as well. That said if you're willing to take a bit lower returns and pull the trigger immediately when multi is sent out, you might get a shot! I'm only investing in the OK market, but I hear about investors pursuing value add in MO, OH, IL. I just don't have providers I can speak for! 

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