Oklahoma City Metro Area
Hey everyone,
Been doing some market research for multifamily investing opportunities, and looking for more in-depth information. I have narrowed down some markets that have been growing at a steady pace, one being the Oklahoma City Metro Area. Before investing, I would like some information from locals, RE professionals, and those familiar to the area about recent developments (i.e. crime, social scene, commercial activity, employment, etc) and which sections around the metro area are primed to grow.
Any input will be greatly appreciated. Looking forward to hear your responses.
Thank you,
Patrick
I think I answered this in another thread but didn't answer your full question! For growth I'd look just south of the river. The maps program is developing that area heavily and although you might wait a while to see the appreciation that's where I would place my bets. Look up Capitol Hill!
Patrick, I have lived in OKC my entire life. The biggest area for growth right now is in the historical areas just north of downtown OKC. It's the area where most in their 20's or early 30's want to live. For families though, the rural areas are where the growth is. Mostly Edmond and Deer Creek. With Yukon, Piedmont, and Choctaw as great spots as well.
not sure i would call edmond rural (although compared to where i lived in LA in college it sure is) there are multi family deals all over the okc metro the issue is finding them and jumping in fast. we have closed deals all over okc in the past year on many sizes of multi family and some are great prices some are just ok but as long as the investor is able to meet their cash flow goal we consider it a good deal.
@Josh Wilson the problems with those areas is that it’s already too late. You make your money in the buy, and they’re too hot. Sellers know what they have and the numbers often don’t make sense. It’s 100% worth it to keep your eyes peeled and to move very quickly if a deal comes up, especially on the fringes of those areas. I’d look ne of downtown, west of Penn for a better chance of snagging something NW.
I echo what people said above. I have a bunch of friends (mid 20s, early 30s) who are trying to move out of Edmond, which is a lot better for families, into the areas of OKC mentioned above, so depending on who you're trying to rent to, take that into consideration!