All Forum Posts by: Ben Scott

I'd call 'old Edmond' anything by the University or from 2nd St south to 9th. Between Boulevard and Bryant. Homes in the Clegern area are going for crazy price per square foot the last 12 months. We're seeing more flips and new constructions thanks in large part to Clegern Elementary accepting more neighborhood kids. They used to be exclusively a charter school with no preference for local families.

Congrats and good luck on your search. One piece of advice is to tell your sphere of influence you're looking to purchase investment property. Those conversations with people you already know and trust can spur the best deals. 

Let me know if you'd like to see a few properties! Or I can refer to you to some local references (podcast, real estate meet ups, etc). 

I use Lindsay with Trevor Randall's Farmers Insurance agency in Edmond. I have several policies with her. They have a subprime option called Foremost, under the Farmer's banner, for when a rental unit is vacant or the home is not in ideal condition. 

If you're only home one month a year, have you thought about buying a SFH property and renting out as an Air BNB when you're traveling? I think there'd be a big market in Norman. There are companies that will take care of cleaning, stocking supplies, etc.

I'd echo was Kiera said. Working as an agent, we see a lack of inventory with an army buyers looking to take advantage of lower interest rates. On the investor side, I've seen activity from numerous out-of-state buyers (mostly California) snatching up high cash flow rentals in often dicey areas.

My wife and I are real estate agents and we're seeing average houses in Edmond enter into multiple offer situations. I think initially it was a lack of inventory and low interest rates. Now, I think the word is out that people are getting WAY over asking price for their homes, especially smaller, older homes which make cash flow rentals.

The 2500+ sq ft homes that are 6-7 years old ARE competing against new construction. So those folks typically aren't seeing appreciation because why pay X for your house when I can pay the same amount for a brand new home.

@joel bullock Good luck on taking that first step. Remember to take action. You'll make mistakes. But the biggest mistake is doing nothing. 

Depending on the school district, property taxes are relatively high in Oklahoma, especially for a state with an income tax. However, the urban core of OKC is slowly gentrifying beyond the more exclusive neighborhoods. There aren't a ton of deals where you're going to get 70% on the dollar. But it's exciting to see folks investing in different neighborhoods.

Your house hack could be as simple as buying a 3bed SFH and renting out the other two rooms to friends or roommates. That's essentially what house hacking is; gaining equity while someone else pays your mortgage. Just an idea.

I'd be interested in getting to a meet up with other like minded investors. Thanks for the info.