Buy and Hold Rental Properties in North Tulsa
I am currently living in Tulsa and am interested in starting my rental portfolio.
I know North Tulsa isn't the nicest part of town but I was curious if anyone has an experience doing buy and hold rentals in this area. If so I would like to hear about your experience and what the pros/cons are with investing in this market.
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@Jeremy Lumpkin congrats on getting started!
I have rentals in North Tulsa and some of them have been section 8 in the past.
You can get good tenants in North Tulsa by doing a good screening. This goes for any location of course. And by showing your tenants that you have treated a house with care and attention to detail, you can set the bar high for them as well.
The ROI numbers look great in North Tulsa. Plan for potentially higher vacancy rates and when vacant I'm always concerned about vandalism though that hasn't been a major issue. Overall I have no regrets with my North Tulsa houses.
Bank loans may be harder to obtain because the properties are cheap. Tax and insurance are very cheap as well. It literally all comes down to placing a great tenant. That is definitely harder to do in this area.
Hit me up if you have any questions. 👍