Hey everyone! I am currently looking for smaller multifamily properties in the Tulsa area and am looking for recommendations for brokers and property managers. I am specifically targeting smaller C-B assets, 5-30 units, up to $1.5 M. If any of you have any contacts of brokers and/or property managers that work with properties that fit the bill I'd love to hear your recommendations.
Of course, any of you investors that are local and have insight into the area I would love to hear your thoughts as well. I am just really starting to dive into my market research so any local advice is always appreciated. I plan to spend a week or so in October visiting the city and hopefully visiting some properties and connecting with potential team members, so lets connect and meet up if you and in the area and interested in talking shop over a beer/coffee/lunch. Thanks for the insight everyone and happy deal hunting!
I’m a broker and property manager! Let’s link up when you come to town!
I'm also in Tulsa, I'm a former wholesaler turned multifamily syndicator. I'd be happy to get together over lunch or something while you're here, just let me know!
@Corbin Marcotte Sounds awesome, I will definitely make sure we do. I will keep you posted when i nail down some dates. Look forward to meeting you! In the meantime, from the property manager's perspective, are there any quirks to the Tulsa market that I should be aware of as I am researching the market and doing some initial underwriting? Suggestions of areas of progress?
@Kyle Critchnau I will absolutely take you up on that, I will keep you updated as I nail down my travel dates as well. Love to hear the progression from wholesaler to syndication, well done and congratulations! Are you currently investing the Tulsa markets at all?
I don't currently have anything in the Tulsa market (I'm in several others nationwide) but I've always got my eyes open for something around here. Be glad to meet you, let me know when you have dates that you'll be out here and we can figure something out.
@Brandon Guite being that I have only invested and managed in TULSA and sub markets it would be hard for me to define any quirks from other markets. There are several areas that are in the path of progress that I have been keeping my finger on the pulse of. Anywhere around downtown is blowing up right now. You can find older property’s that have been ran down in the area if you are looking for value add opportunities. I have personally experienced that finding on market deals in multi-family is like finding an on market deals in single family (nearly impossible). Brokers are trying to sell based on over inflated performas. There are still reasonable sellers that understand and appreciate the value needed to make a deal happen you just have to be able to locate those owners. Out of the nearly 150 units I manage in the immediate Tulsa area (not counting Muskogee, or Ponca City) we are at 100% occupancy. I believe Tulsa is and will be in the years to come one of the best places to invest in the U.S.!