New to Real Estate Investing & Tulsa

17 Replies

Hi Everyone,

I am new to BP but have been listening to the podcast for sometime now. Every time I listen to a new segment I get the feeling that real estate investing is what I should be doing and not my 8-5 corporate job. The challenges sound exciting as much as rewards. Would anyone know where to start out? I've heard that wholesaling is a good way to start. Any advise or suggestions? I recently moved to Tulsa, OK and am not too familiar with it's real estate market. Thank you in advance.

Welcome to BP & Tulsa OklaHOMEa!! I'm a local REI in the Tulsa area myself. It's a great market and there's properties in all price ranges for anyone at any level. Some areas are very hot and houses go very fast, others may be better for rookies. I'd suggest networking with other REI's in the area and don't be afraid to ask questions. Many are willing to network and help others. Probably the easiest way to get started is do a joint venture with an experienced REI on a few deals, where they help guide you and once you find a deal you partner on it & split the profits. There's plenty of business to go around.

- Jeff Filali

4Lease4Sale 

Welcome to BP and welcome to Tulsa! Get on the forums, ask questions, connect with people here on BP and go to local REI meetings here in Tulsa. I believe they had one this week at McNellies here in South Tulsa. I couldn't make it, but plan on attending the next one. I think they have it once a month. Best of luck and God bless you and yours!

Welcome @Mani Mun to BP and Tulsa! There are great opportunities in both. Continue listening to the podcasts, download and read the BP book Ultimate Beginners Guide to Real Estate. Attend local REIA meetings and get to know other investors. We do have BP Meet Ups each month. We had one this past Thursday. Watch for the next Tulsa BP Meet Up in Community - Networking Events. You may want to start Wholesaling or with Mobile Homes. You will need a little money to start via loan in cash. Good luck and hope to see you at the next BP Meet Up.

Welcome to Oklahoma!! And BP! I hope you find (as most do) that Oklahoma gets in your blood and it is much easier to move to than to move away from. The people here are unlike anywhere se. My wife and I are investors in okc and are in Tulsa regularly. Generally Okc and Tulsa are geographically opposites. From what I know Tulsa is newer in the south and older to the north. Okc is the other way around. There are a lot of great at as to look in and as mentioned earlier the RIA's are a great resource. Also consider responding to some we buy houses signs and adds to find out who is behind them. Let them know you are there and looking. And of course stay connected to BP and have fun!
Kevin

Welcome to Oklahoma, @Mani Mun !

I moved from San Francisco (actually by way of Paris - long story...) and have been in OK 3 years. It will probably be a huge adjustment from San Diego. It was (and still is) for me. Find your people, build your network, and leave your notions of CA investment returns behind! You can get great deals here and folks are easy to work with. 

The one piece of advice I would give you is... don't quit your day job! A solid, corporate gig will allow you to get great financing. That can be your competitive advantage among some of the other investors you come across. 

Oops... hit send too soon... 

Also, connect with part-time investors to learn how it can be done without quitting your job. Do enough deals to replace your income and then determine from there if you want to leave. Or maybe you can get your employer to let you work part time or from home (Read The 4 Hr Work Week by Tim Ferris for some ideas!)

Anyway... welcome to BP!

@Theresa Nicoletto why not make real estate investing your day job? lol.  lots to do in real estate here and lots of opportunities.  Just find your niche and work it hard every day.  

welcome to Tulsa! Always good to see a fellow OKIE

@Rhett Tullis - I'd love to make real estate investing my day job.... but my day job just cash flows too well! LOL. 

Thank you all for the advise and suggestions, I really appreciate it!
I'm looking forward to the next REÍ meeting, hopefully I can meet and connect with some of you. Thank You.
Mani

Welcome from a fellow Oklahoma investor... ditto to whomever said Oklahoma grows on you... never meant to stay and 24 years later, here we are!

Any ideas on what areas around the Tulsa area is good to invest in properties? Owasso, Collinsville, Oologah, Claremore, Broken Arrow, etc.?

Broken Arrow, Jenks, Bixby & Owasso are very competitive areas and houses go fast there.  It's harder to find good deals in those areas because everyone wants to live there, so everyone is trying to invest there or flip there.  There's a lot of good areas within Tulsa as well, but there's a lot of pockets that arent.  You better get to know the area and the market well before jumping in or you could end up taking huge losses on properties that seem like great deals but aren't.  Good luck!! 

Like Jeff saids, those suburban areas are hot so you need to be prepared to move fast if you find a house that you are interested in.  Get pre-approved for loans and be able to insure closings in 3-4 weeks.  Those types of benefits mean a lot to sellers in those areas and often means you can get a house for a little less than they might otherwise settle for.

Originally posted by @Traolly Xiong :

Any ideas on what areas around the Tulsa area is good to invest in properties? Owasso, Collinsville, Oologah, Claremore, Broken Arrow, etc.?

 Hello, Traolly, im a contractor out of OOLOGAH. ive found good properties in Oologah, Collinsville, & Claremore areas. Claremore is growng also so is Catoosa. i work with investors flipping or rehabbing.  

Hi and welcome! I am a Realtor here in the Tulsa area and enjoy working with investors. Please let me know if you have any specific questions about the Tulsa market. I am working with several investors already, a couple from out of state and would be happy to help.

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