Been doing some market research for multifamily investing opportunities, and looking for more in-depth information. I have narrowed down some markets that have been growing at a steady pace, one being the Oklahoma City Metro Area. Before investing, I would like some information from locals, RE professionals, and those familiar to the area about recent developments (i.e. crime, social scene, commercial activity, employment, etc) and which sections around the metro area are primed to grow.
Any input will be greatly appreciated. Looking forward to hear your responses.
Hey @Patrick Costa, I'll send you a PM. I would love to get on a call with you and discuss some of the recent growth in Oklahoma City.
multi family is getting tough here in okc. good deals go away quickly. the ones that stick around generally have issues with all the items you listed above. figure out what you like have your funds ready and jump when it comes. you can make some money on it but be cautious. also dont think owning a multi family is just like a bunch of single family homes on the same lot. it is a completely different animal and if you dont know what you are getting into you may regret it down the road.
@Patrick Costa I agree with Rhett that it's tough to get it priced right. I've seen some decent numbers on a few smaller complexes, but just a couple per year. I'd definitely position yourself to pull the trigger as soon as something makes sense. It sounds like appreciation might be key in your strategy? We're a very boring market. Around 3% appreciation across the board. There are a few areas where long term growth might be more likely. Throughout the urban core, you might see more as well, but it'll be tough to get something that'll cash flow much right now in the urban core area.