Looking for buy and hold, max $80,000, single-family or multi residential. looking to buy within next month.
@Jordan Slater there's a lot of opportunity in OKC! I'd focus on C class in your search. There's fierce competition of condition/higher make-ready costs and more vacancy/mobility in the B class arena. The biggest factor for most of the investors I see come to OKC is just that C class has much higher rates of return and you can more consistently find good deals! I've got a map that breaks down the areas by class, but it's not letting me post here! Most OOS investors really like Midwest City though. It feels like the safest C class, it's driven by a major Air Force Base and the homes are typically rented by blue collar workers. There are other C class areas that rival this, and then there are of course higher risk/higher reward areas that I love, but that OOS investors are often a little nervous about. My thought is, if the numbers make sense, it makes sense to me! But a lot of investors want to feel good about their property, so Midwest is a solid choice! Good luck!!
@Alyssa Dyer , what do you think about Moore or the Putnam City School area? I keep hearing MWC but there are so many investors looking there that it seems like the prices are starting to climb to ridiculous levels for C class properties.
@Jason Seay both have opportunities! They're just harder to come by. But when the numbers make sense, they're great areas! For reference, I've seen around 2 out of 70 deals reviewed in those areas match up with MWC numbers in the last couple of months.
in my opinion prices are a bit high all over town on the typical property listed. it takes patience and effort to find a good deal. not sure they will ever be as good as the "good ol days" but there are some deals to be had. we work with properties in mwc and yukon, moore and everywhere in between. it all comes down to the purchase price when that is too high everything falls apart. also watch out for folks overestimating rentals rates. there is no good way to get an accurate number other than working with someone experienced in the market.