All Forum Posts by: Alyssa Dyer

@Hamilton Chen piggybacking off of McLain's mention of OKC! This is a solid cash flow market that many investors focused on stability and long term buy and hold LOVE. It's tough to get multifamily here that performs as well as single family but you absolutely can. I focus off-market and over the last 200 deals I've seen ~5 that are multifamily. SOO it happens, but you'll just need to move quickly when it happens here! For comparison with single family you can lock down 8% cap rates that are performing as-is, pretty easily. Good luck!

@Rona Faison of course! With such approachable price points and low taxes, it's easy to lock down 8% cap rates if you're working with the right provider. Let me know if you ever have any questions about OKC and good luck on your second property!

@Rona Faison unless you can cut some middle men it's not the best place to BRRR. If you wanted to do your own direct mail campaigns, negotiate your own deals, or doesome of your own rehab the numbers could work out. But if you're doing a typical out of state deal you're looking at a long wait line and hopefully only leaving 10% of the ARV in. You'll also be absorbing both sets of closing costs. It's a really solid buy and hold market though!

@Andrew Way great consensus. Let us know if you need anything along the way! 

@Patrick Ramirez I'm surprised you found on-market multifamily in Norman at a good return! What are the numbers like? Sticking to OK is a great plan. Good luck! 

@Uzma Abdullah you can grab properties that are cash flowing as-is for 60-80k in OKC. It's a super stable market so it's not a market I would invest in for appreciation. However there are some higher risk areas right outside of development that will likely see more appreciation than other areas in OKC. That's where I buy all my properties! Happy to discuss the market with you. Good luck! 

@Chris Hernandez they should take the potential income of the rental into consideration when weighing to qualify you for multi or not. I'd reach out to Aaron Chapman at Security national and discuss. Or really any investment focused lender. He just knows investments and is very candid. I talk with a lot of investors that own 5+ properties though and they're still getting qualified. I don't think that will be your hurtle. I think overcoming property tax in Texas will be the challenge! 

@Brandon Parsons buying with 25% equity will be tough. You'll likely get something with much less equity if you want it to be livable with no big cash deposit to upgrade before you move in. However there is tons of inventory that will cash flow as-is when you move out. 

I'd get qualified and buy a duplex. Again they're tough to grab with any equity at all, but you can get something livable that will cash flow without major updates when you move out. If you chose to update you'll of course increase cash flow. The duplex will lower your cost of living while you're living there, but it will make finding a place harder because they're more rare. 

Soo.. wait for a duplex, take what you can find, lower cost of living up front 

or

with single family have more options, likely have to do less updates for cash flow, but you only get one door and won't lower your cost of living as much the first year. 

@Joshua Sword I've heard the millionaire meetup is great in OKC. I'm not sure if it's happening right now, but some successful local investors were telling me that's their favorite recently! 

@Joshua Clark@Joshua Clark what market do you live in? It's important that when you buy the first house you're keeping in mind how you want it to perform after you move out. The goal could be to rent it out and make sure your mortgage is covered by the tenant or to even cash flow beyond that. Maybe you live in a market where that's impossible, you could then specifically target properties that might appreciate more! Happy to answer any questions about this!

I agree that if it is a cash flow market, a duplex might be a great way to start!