I thought I would share that I am moving to Tulsa in Aug. for a new job after I graduate this summer. I have been living in Colorado and I am fortunate enough to have the ability to sell my house in this mini bubble market.
I have never been to Tulsa and would like to ask if anyone has any suggestions on good places to buy property as a personal residence. Where are the best and growing areas that may provide above average appreciation? My current research tells me Bixby, owasso, broken arrow, and jerks?
My plan is to buy a personal residence and then take a year to study the market and invest in multifamily (2-4 units) after that. I am a newbie so any advice will be appreciated. Does anyone have any feedback on how to buy "right" for a personal residence?
Thank you all in advance! Your insight means a lot to me...
Welcome and congradulations on your new Job.
After living in OK for eight years I like Broken Arrow for city living. The others are closer to country living. I was a practicing country girl there lived in the country and drove into Broken Arrow daily to work. There is were I got my first Realtors license.
I may return there some day who knows.
Hope this helps.
Don't dismiss midtown. You will have similar issues but to a much smaller scale than bigger cities. Older, mature areas will tend to be priced more per sq foot and appreciate more than the urban sprawl where homeowners are competing against new home builders while gaining longer and longer commutes.
There's a strong desire for young and older professionals to be closer to the inner city with access to restaurants and their jobs. Those without kids don't care about school districts.
Tulsa won't blow you away with appreciation but as long as you aren't buying in a low income area, you won't get rocked during a big housing downturn either.
Reach out to a qualified realtor that knows something about investing....someone like myself comes to mind....and you will do fine.
Thank you for your feedback on broken arrow!
Thank you for your detailed response. I am currently married with two little ones so school district will matter as far as personal residence. I will make sure to take a look into midtown. I will be flying out there in a week in a half hopefully to look around....
that was another thing I thought I would mention is a visit. let me know if I can help in any way.
H I ---> Happy Investing.
If you have little ones (elementary age), Jenks South East is rated as the best in the state. Bixby & owasso are really good as well. As far as midtown goes, the Elliott, Lee, Carnegie & Lanier neighborhoods are usually regarded as the best in Tulsa public schools.
Good luck and welcome to Tulsa
What part of town will you be working in?
What part of town will you be working in?
Of the 4 places you mentioned, Jenks is probably best positioned for future appreciation. They are somewhat land-locked, have a great school district, and many nice neighborhoods to choose from.
I would work with an experienced Realtor to help you buy right. If you aren't already working with someone I'd be happy to refer you to one that I have referred many people to that are moving into town. She's a very experienced agent with Coldwell Banker.
As for the investment side of things, I wouldn't get too set on specific property types until you get out here and study the rental market. Nice duplexes are somewhat hard to come by, triplexes and quads even more so.
Best of luck on the move and welcome to Tulsa.
I have a centrally located 3/2 that is just the thing u are looking for
You are looking in all the right places. We live between Bixby and Jenks and love being out there, but as others have said, it is more of a country setting. I have a 3 bed 2 1/2 bath in Broken Arrow that is getting ready to hit the market that has been completely rehabbed and is really close to shopping, restaurants etc. and is in a very nice neighborhood. PM me if you want to come take a look at it. Welcome to Tulsa and good luck to you.
@Joel Kadlec - Here's an early welcome on your move to the Tulsa area!
Listening to one the BiggerPockets podcasts today, I believe it was Chris Clothier - owner of Memphis Invest, mentioned that when looking for prime areas for investments he finds the paths of progress. With that in mind, Owasso and Broken Arrow stand out from the four great cities that you mentioned. However, as someone who has a granddaughter whose family just moved to Broken Arrow, I was not pleased with the school ratings. While Broken Arrow is constantly expanding, it doesn't really seem like it is adding major new employers.
In contrast, the Owasso area is currently adding some new employers, including the recent opening of the new Macy's distribution center. Additionally, there are many national retailers building new locations in Owasso. However, I have not researched the quality of education.
Unfortunately, commute time to downtown Tulsa will be a challenge for any of the cities mentioned. The major highways heading to downtown Tulsa are sadly too narrow with no evidence of any forthcoming expansion.
Midtown Tulsa has some excellent property with good appreciation. Additionally, there is a youthful appeal for your family in Midtown. However, you will probably want to explore private schools for your children.
You'll love Tulsa! I lived there most of my life and have only been here in Texas 3 years. Midtown is awesome. They're trying to do a big push for development in Downtown Tulsa so it may be a great place to buy up property for future. It's not the best living as of now. I also drove through the Brady Heights District. Big houses and a historic neighborhood they're trying to revamp. All the places above are ALWAYS great. Here's just a few other places to look into...Best wishes on your success!
Welcome to Tulsa, @Joel Kadlec . I believe the path of progress in Tulsa is downtown and surrounding neighborhoods, including the areas near the Arkansas River, River Parks trail system, and the Gathering Place, a giant $350 million park being constructed on Riverside Drive near 31st Street. You could also look at living near Peoria Avenue in the Brookside or Cherry Street (15th Street) areas because Peoria is slated to get a Bus Rapid Transit system with frequent (15 min) bus service in a few years. Current bus service is very infrequent (30-45+ min), so it could be valuable to be located near frequent service in the future.
We just bought a house in the Riverview neighborhood just south of downtown as a personal residence and moved in two days ago. Before that we were living in an apartment downtown. In my opinion, what's happening downtown and surrounding neighborhoods near the river has more potential to provide above average appreciation than outlying communities celebrating the arrival of the newest Sam's Club.
We have a one-year-old, so we considered schools. There are ways to get into the better schools in Tulsa and we are going to do whatever we can to make sure he gets into them. If for some reason we can't, we'll do what it takes to put him in private school. You might check out this podcast on the topic of urban schools for people who want to live in urban areas.
It sounds as if you've done solid research. All four cities you mentioned are on similar ground. Depending on how dollar conscious you are I'd suggest looking into living in the Wagoner County section of Broken Arrow as well. The taxes are considerably lower for the same schools etc as Broken Arrow/Tulsa County. Of course this will add to your commute time, but it should still be in the 20-25 minute range to downtown Tulsa.
As for the second part of your plan I've been looking at multi-families in the area lately as well and haven't had a ton of luck so far, there seem to be fewer in the area than a lot of others (or maybe I'm just looking in the wrong places) anyway best of luck - enjoy the 100 degree days!