Oklahoma

29 Replies

Hey, anyone have any suggestions or recommendations about entering the markets of Oklahoma City or Tulsa?? We are looking for SFR or Multi family (2-10 units). We are also experienced in the flip game if that makes sense. Hoping to hear some feedback on both markets...thanks a ton!

lots of options out there although prices are up a bit but still deals to be had if you are patient.  

@Douglas Davies

I can't really speak for the Tulsa market but if you want some specific information on the OKC market. Shoot me a PM with what you're looking for and I'll pull some information for you.

Larger multi family units are selling at historically high prices for Oklahoma (as Rhett indicated) so it's tough to find adequate return in those segments right now.

If you've had success in flipping I would definitely look for flip-to-rent opportunities within SFR and light multi units.

Welcome to Biggerpockets & OKC!

I recommend you join the local Real Estate Investors Associations (REIA) to be around like-minded individuals.

What I have seen over the years, since 2006, is that we can tell the success level of new investors by how often they show up. It's amazing what it will do for your motivation and momentum when around your peers.

For real estate investors in Oklahoma City, we have:

For entrepreneurship & business in Oklahoma City, we have:

I am a local real estate mentor and business coach so if you ever need guidance and accountability I might be a resource to you. I am always open for a cup of coffee!

Enjoy the day,

Ron Harris

The Renascent Entrepreneur

@Douglas, it seems that Plaza District in OKC is experiencing flipping frenzy, although not sure how long it will last. I heard that high-end SFR prices are dropping due to oil bust. That's something you might want to consider.

@Ron Harris You stole my thunder Ron; great suggestion for getting to know the community if you are local.

@Account Closed are you looking to invest strictly as a buy and hold investor here in Oklahoma?  Do you have any ties here as far as management/other investors here, or specific ideas on how you are looking to invest in Oklahoma?  Some investors I know like to just invest on the financing side from out of state, such as writing notes/mortgages on the properties with liens in place just like a bank, while others like me are comfortable investing in my own property out of state--but that isn't really the norm.  We have properties in OK, NY, and MD but we are pretty careful about buying where we are familiar.  Send me a message sometime if you want to chat or are in the area.

@Andrew Grieb sorry for the delayed response.   We would be doing flips and long term holds - we are pretty comfortable owning out of state.  We are in four states now.  We are currently very focused on the SC market, but OK is still a desired market for us.  I'll message you to discuss.

@Lou Milard I think it really depends on what your goals are. If you are looking to park cash in a stable area, with a low barrier to entry, and consistent returns in the high single digits, then yes. But, value add opportunities in the multi unit space are rare in Oklahoma City and almost always off market. In the hotter metro areas, new/redevelopment is your best bet right now, IMO. There are some very cool re urbanization projects going on right now and 8.5ish preferred return with proportional ownership is the going offering from the developers.

I'm in construction, 90% multi family. I'm seeing 8000 +/- new units hitting the market in OKC metro area in 2015/16. Any thoughts on what that will do to the market for older/smaller properties? 

in most parts of town that will not be a huge issue,  the lower end/older units attract a different group of folks in general.  if anything it may help the older places to up their prices a bit and still look like a good deal compared to the price of the new ones.  

New to the investment property market of OKC, seems a lot of flipping in the historic preservation area like mesta park, crown heights, edgemere park, shepherd and linwood. Local realtors also doing a lot of flipping, from the sale history it looks at a very high margin. The booming areas are downtown, bricktown, midtown, 23rd st and 36th st. Would like to meet more people in the okc area share same interest.