ROI for rental properties in OKC metro
I spoke to a friend who mainly does buy and hold in OKC and he told me that his average ROI is 6%. Although he said his houses are super easy to rent out, he wouldn't recommend me investing in OKC because of the low ROI. To be specific, his properties are mostly in Norman, a mix of 2b and 3b SFH's, and he manages his properties by himself. I am surprised to hear that his ROI is only 6%. I'd expect something around 10% range. I will be an out-of-state investor for Oklahoma, meaning i will have to hire PM's all that. That means my ROI will be even lower.
Is this ROI common? Is it just Norman coz property value is slightly higher? I'd appreciate if you can share your ROI and your neighborhoods. Thanks!