Lawton Rental Market

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Lawton Rental Market

Aaron Jones
Investor · Edmond, OK · Member since 2017 · 25 posts · 6 votes

I live in OKC, but I'm considering investing in Lawton. However, I am not really familiar with the area. Any investors holding property in Lawton? How's the rental market there? Specifically, how is demand? Any trouble with vacancy? 

I worry a little bit that the only major employers/reasons to live in Lawton are the Fort Sill AFB and Cameron University, so if for some reason they close the base, the town population/tenant pool will drastically fall. Any other large employers there?

Also, are there decent property managers in Lawton?

Lastly, as for exit strategy, in 3-5 yrs, when I'm ready to sell my property, are there many interested buyers of MFH's?

Lots of questions, I know. Thanks in advance for your help!

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Tommy Ray
Real Estate Consultant · San Antonio TX Canyon Lake TX Fort Walton Beach FL Cape Coral FL Clarksville TN Sumter SC and Lawton, OK · Member since 2008 · 139 posts · 128 votes
6y

I love this market--other major employer is Goodyear for instance.  Margins are great.  Strategic partnering in this market is needed so you can maintain quality of services, and an eye on everything.  Overlaid with the economic zones this is a great opportunity market.  I am getting houses at 5-20 bucks a sq foot...  The legal marijuana business is bringing money into the city bit by bit.  

More for your consideration:

The following are links to information that the savvy investor would need to combine investment tactics and techniques to generate high yielding ROI. It considers the offensive and defensive virtues of the tax code, and real estate investing. Offensive virtues are equity capture on the buy, rent, forced appreciation on the renovation, appreciation on the hold, principal pay down as the loan amortizes and the conversion of cash to a physical hard asset to prevent losing buying power as cash sits in an interest bearing account that is outpaced by inflation. The defensive virtues are the depreciation and tax code benefits allotted for investing in incentivized areas and / or using vehicles like Self Directed IRAs that can defer tax liability indefinitely and wash it entirely upon your passing as the monies flow to your children or loved ones.

Economic Incentive Zones: https://eig.org/opportunityzones

More on economic incentive zones: https://taxfoundation.org/opportunity-zones-what-we-know-and-what-we-dont/

IRS FAQs on incentive zones: https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions

IRA data on the 9.8 trillion stored in IRAs: https://www.ici.org/faqs/faq/Individual-Retirement-Accounts-(IRAs)-FAQs/ci.faqs_iras.print

Self Directed IRA: https://www.investopedia.com/terms/s/self-directed-ira.asp

Hot Market Data: https://www.zillow.com/lawton-ok/home-values/

https://www.movoto.com/lawton-ok/market-trends/

Market Analysis: https://www.littlebighomes.com/real-estate-lawton.html

Housing Data: https://www.neighborhoodscout.com/ok/lawton/real-estate

Dated (2015) market data from HUD: https://www.huduser.gov/portal/publications/pdf/LawtonOK-comp-15.pdf

Oklahoma Senator that chairs the armed services committee: https://en.wikipedia.org/wiki/Jim_Inhofe

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  • Abe DeHart
    Lawton, OK · Member since 2017 · 48 posts · 25 votes
    6y

    @Tommy Ray I’ve been lurking here for years, but that was my first post. Learned a ton from everyone here at BP.

    1Reply
  • Tarah Fernandes
    Rental Property Investor · Dallas, TX · Member since 2019 · 24 posts · 8 votes
    6y

    @Abe DeHart @Victoria C. Thank you both!

    0Reply
  • Richard Damian
    Rental Property Investor · Houston, TX · Member since 2020 · 71 posts · 13 votes
    6y

    Hello investors, any updates on rental market in Lawton Ok , low Dom for rentals ..?  How about crime in area .? Please advise...trying to close on about 2 . 3 single family homes....for rental properties....any input or advise is appreciated....thanks

    0Reply
  • Abe DeHart
    Lawton, OK · Member since 2017 · 48 posts · 25 votes
    6y

     Lawton is fairly segmented in terms of crime. You’ll see spots that have high crime and go over two blocks and find spots that have very low crime. There are plenty of crime mapping websites to check out. There have been less listings in the last month (due to COVID I think), but there definitely are still a few acceptable deals out there. 

    0Reply
  • Richard Damian
    Rental Property Investor · Houston, TX · Member since 2020 · 71 posts · 13 votes
    6y

    @Abe. , thanks for the input. , any recommendations for local contractor and property manager...? Just sent earnest money today for 2 properties

    0Reply
  • Abe DeHart
    Lawton, OK · Member since 2017 · 48 posts · 25 votes
    6y

    I use Rent Lawton on Cache Road. They’ve done a great job for me and found good tenants. I haven’t cracked the code on a great contractor yet. @Tommy Ray May be able to help on that. 

    1Reply
  • Tommy Ray
    Real Estate Consultant · San Antonio TX Canyon Lake TX Fort Walton Beach FL Cape Coral FL Clarksville TN Sumter SC and Lawton, OK · Member since 2008 · 139 posts · 128 votes
    6y

    The good contractor is hit and miss for sure.  The industry of home repair battles with high incidence of drug use and abuse.  We have some decent guys there but we tend to bring them in when we have a cluster of homes we close and need to fix up...

    3Reply
  • Richard Damian
    Rental Property Investor · Houston, TX · Member since 2020 · 71 posts · 13 votes
    6y

    Thanks Tommy, I also have a small crew, but Lawton is a long way from Houston....I just need to talk to them , thanks for your input

    1Reply
  • Victoria C.
    Investor · Kaiserslautern, Germany · Member since 2017 · 77 posts · 25 votes
    6y
    Originally posted by @Abe DeHart:

    I use Rent Lawton on Cache Road. They’ve done a great job for me and found good tenants. I haven’t cracked the code on a great contractor yet. @Tommy Ray May be able to help on that. 

    Nice to finally hear of a good property management company. Good to know!

    0Reply
  • Gerald Turner
    Rental Property Investor · Hope Mills, NC · Member since 2020 · 23 posts · 2 votes
    6y

    @Tommy Ray have you ever worked with Tim Hall? From Tim Does it? In Lawton?

    0Reply
  • Gerald Turner
    Rental Property Investor · Hope Mills, NC · Member since 2020 · 23 posts · 2 votes
    6y

    @Victoria Crump I spoke with Rent Lawton how long does it usually take for them to find a tenant for a property that is ready to be rented?

    0Reply
  • Victoria C.
    Investor · Kaiserslautern, Germany · Member since 2017 · 77 posts · 25 votes
    6y
    Originally posted by @Gerald Turner:

    @Victoria Crump I spoke with Rent Lawton how long does it usually take for them to find a tenant for a property that is ready to be rented?

    You’ll have to ask @Abe Dehart 

    0Reply
  • Gerald Turner
    Rental Property Investor · Hope Mills, NC · Member since 2020 · 23 posts · 2 votes
    6y

    @Victoria Crump ok thank you

    0Reply
  • Gerald Turner
    Rental Property Investor · Hope Mills, NC · Member since 2020 · 23 posts · 2 votes
    6y

    @Abe DeHart hello Ade how long does it usually take Rent Lawton to find a tenant once the property is ready is to be rented?

    0Reply
  • Abe DeHart
    Lawton, OK · Member since 2017 · 48 posts · 25 votes
    6y

    @Gerald Turner - I’ve had units rent the next day and units take 6 weeks. Depends on factors like these:

    - Current Demand (mostly tied to the US Army)

    - Location (very important)

    - Condition of property

    - Desirability of floorplan

    - Rent rate asked


    In general, Lawton takes longer to rent than the other market I’m in. However, many renters will stay for multiple years, and expenses are fairly low. 

    0Reply
  • Richard Damian
    Rental Property Investor · Houston, TX · Member since 2020 · 71 posts · 13 votes
    6y

    thanks for the info  ,   very useful

    0Reply
  • Luke Reninger
    Member since 2019 · 56 posts · 49 votes
    6y

    My open floor plan house with somewhat modern features, hasn’t been more then two weeks vacant in five years.

    I noticed when looking at rentals, almost all needed paint, flooring, general cleaning and fences repaired. Keep the place up and it will rent fast. 

    That has been my experience at least

    2Reply
  • Richard Damian
    Rental Property Investor · Houston, TX · Member since 2020 · 71 posts · 13 votes
    6y

    @Luke , thanks for the info , closed on 2 SFH and headed to Lawton in about 3 weeks , to renovate and get rent ready , not sure how the rental market looks due to Covid ? any input would be greatly appreciated , also have two projects going on here in Houston ,Tx ( flip and sell )

    0Reply
  • Tommy Ray
    Real Estate Consultant · San Antonio TX Canyon Lake TX Fort Walton Beach FL Cape Coral FL Clarksville TN Sumter SC and Lawton, OK · Member since 2008 · 139 posts · 128 votes
    6y

    Gerald Turner, I have not worked with Tim Hall.  

    0Reply
  • Luke Reninger
    Member since 2019 · 56 posts · 49 votes
    6y

    It’s still good if catering to military. They started moving (PCS) people in and out again. 

    0Reply
  • Richard Damian
    Rental Property Investor · Houston, TX · Member since 2020 · 71 posts · 13 votes
    6y

    @Luke   , yes will cater to all , gonna have rent ready  in about 2 months or less    , do you have a property  manager ?  any contacts for good remodel contractors ?

    thanks

    0Reply
  • Luke Reninger
    Member since 2019 · 56 posts · 49 votes
    6y

    I use sasseen. They have been good to me and never a late payment or issue with tenants other then general maintenance in 5.5 years.

    They handled one damaged floor issue for me and it was professional.

    I have always done my own work with buddies there. Can’t help on the GC part. 

    1Reply
  • Dakota Lee
    Rental Property Investor · Member since 2020 · 6 posts · 0 votes
    5y

    Hey team I’m headed to fort sill this winter it turns out. How’s everyone’s 2021 experience buying rentals in/around Lawton going? I’ll be shifting to that market and starting the hunt soon. Any advice would be appreciated!


    If anyone is wholesaling there or looking to exit their multifamily let me know too. I’d definitely be interested for the right price!

    0Reply
  • Tommy Ray
    Real Estate Consultant · San Antonio TX Canyon Lake TX Fort Walton Beach FL Cape Coral FL Clarksville TN Sumter SC and Lawton, OK · Member since 2008 · 139 posts · 128 votes
    5y

    I have a duplex at 23 / 25 NW 24th st.  I would be interested in selling for 25,000.

    0Reply
  • Dakota Lee
    Rental Property Investor · Member since 2020 · 6 posts · 0 votes
    5y

    @tommy ray 

    @Tommy Ray Let’s chat! Sent a request to connect since BP deletes posts with contact info. Would love to get more info!

    0Reply
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