Question on Investment Areas in OKC

10 Replies

Hey all! I was just going through and looking at some properties in the OKC area and was wondering if there were any agents/investors that had some insight into the areas around OKC. I have seen certain deals that have good prices, and with some renovations the houses would seem to jump in value, but I'm not sure the area is the most attractive. I've been looking mostly in areas west of I-235, around 23rd/36th streets north of I-44. I am looking for some starter properties as I am newer to REI but wanted to get some opinions before I dive in.

I live in Edmond so I will be able to drive these areas out as well and see for myself what they look like during the day/night as well. If anyone has any knowledge of this area or others please let me know!

What's going on Jacob! 

It is really going to depend on what strategy you are looking for. If you are looking for flips, Edmond is a fantastic area as well as some areas in midtown (Paseo, Mesta Park, possibly Tenn-Pen,) and Lincoln Terrace is a hot area right now. 

If you are looking for rentals, I have found deals all over the OKC metro. The south side is going to be lower-end rentals but the cash flow can be great. Conversely, rentals in areas of north OKC and Edmond will tend to attract a little higher rent and higher qualify tenant - however your cash flow may suffer. 

I would love to discuss specific areas further with you, lets meet up for lunch or coffee sometime! 

I was initially thinking of doing some flips, but after analyzing a few properties I realized that the cash flow looked pretty good like you said, so now I'm not sure which way to go. Either way I'll have to find a partner to help support the initial capital investment, but that shouldn't be an issue.

I'd love to meet! I sent you a PM so we can discuss.

@Jacob McCarley Just to piggy back a little on what @Alex Owens had to say.  Its really all about your strategy that you choose.  Those rentals in the lower end sides of OKC or really anywhere for that matter will typically require more management, repairs, and turnover.  Hence the higher cash flow.  The properties that are in better areas tend to attract higher end tenants, from my experience dont require as much management, repairs, and turnover.  These typically cost more to purchase hence the lower cash flow.  

I also would like to meet up sometime to discuss specifics over lunch. 

Best of luck. 

Thanks @Dylan B. , I was looking at flipping and in that area it seems good, but at the same time I don't know if people moving into that area want to spend enough on a house to warrant any profits. Basically I don't want to overestimate the ARV and end up losing money on the deal based on the clientele in the area. That's why I'm leaning more towards rental right now. I would plan on managing the property myself at first, just for the experience really, so I can learn about that side of real estate, but eventually I would either sell this property or hire property management to take care of it for me.

We can definitely meet up anytime, just let me know. I don't know how often you make it to OKC from Shawnee so I'll let you pick the day that's convenient.

Jacob I used to live in the area you mentioned in your first post, between NW 16th and NW 23rd, and Classen and Penn. Plaza district. My wife bought in right when things were starting to pick up. It was a 3/1 that was purchased for $110k and sold 3 years later for $180k with no improvements. The house next door was picked up on the courthouse steps for $22k, resold two days later for $55k, the guy put $50k into it, and sold it for $180k. I haven't kept up with that area, so I'm not sure what the deal is now, but I'm sure there's still money to be made.

I'd be interested in getting together with people as well, let me know if a plan comes together.

@Jacob McCarley Agreeing with everyone here, it just depends on the strategy you are going for and the resources you have available. I would say, at the moment be careful of any flips over 200K (market slowing down) unless you get a really great deal or a good reason to do so. 

For rentals, it just depends. White & blue collar have pros/cons as rentals.

If you ever want to visit over coffee, you can pick my brain, I'll share what it looks like as a full-time real estate investor, and in detail which areas might be good for your situation. 

Hello, interested in Norman, OK.  Are there good areas to invest in rental homes in that area?  Perhaps better returns and opportunities in OKC?

Originally posted by @Jim Martin :

Hello, interested in Norman, OK.  Are there good areas to invest in rental homes in that area?  Perhaps better returns and opportunities in OKC?

 I think it is a good area, but a lot more expensive. >$100/sq. ft is very common (especially for smaller sub 1000 sq. ft homes). 

Jacob, Alex, Dylan, Blake, (Hi Ron!)  Always up to meet up and talk.  Feel free to reach out.  And if you are looking for meetups, @Ron Harris hosts numerous events so reach out to him.  

Jim, we have rentals in Norman.  More on the east side.  Be prepared to pay more as Norman is expensive.  In general, I would agree that both better returns and opportunities could be found elsewhere due to the prices, but if you like Norman, stick to it and stay focused.  

@Ron Harris undefined

Coffee with Real Estate Investors is every 1st Wednesday of the month at Starbucks 5800 W. Memorial Rd, OKC, OK 
www.OKCRealEstateInvestors.com is the #meetup with all the info and updates.

Originally posted by @Blake Lennon :

Jacob, Alex, Dylan, Blake, (Hi Ron!)  Always up to meet up and talk.  Feel free to reach out.  And if you are looking for meetups, @Ron Harris hosts numerous events so reach out to him.  

Jim, we have rentals in Norman.  More on the east side.  Be prepared to pay more as Norman is expensive.  In general, I would agree that both better returns and opportunities could be found elsewhere due to the prices, but if you like Norman, stick to it and stay focused.  

@Ron Harrisundefined

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