All Forum Posts by: Brendan Harrison

Welcome to the community, and congratulations on starting your real estate journey! While the Great Lakes region does have its share of opportunities, don't overlook Oklahoma! It's a landlord-friendly state with steady population and job growth, making it an excellent place for investors. Cities like Tulsa and Oklahoma City offer affordable properties under $150K and a solid rent-to-price ratio, ideal for cash flow-focused investments.

Additionally, Oklahoma's market typically avoids extreme seasonal or environmental issues, making it easier to manage properties. Whether you're looking for single-family homes or small multifamily units, you'll find plenty of potential here. Best of luck, and feel free to reach out if you’d like more insights on specific neighborhoods or strategies!

It's definitely possible to do a BRRRR in OKC on a budget under $100K, but as you've found, the MLS options in that price range can be limited and often include older homes. However, there are ways around this:

1. Off-Market Deals: Connecting with wholesalers or investors who focus on off-market properties in OKC can help you find deals that aren't listed on the MLS. Since you're already familiar with renovations, an off-market deal might let you use that experience to your advantage with properties that need a manageable level of work.

2. Networking with Local REI Groups: OKC has some active real estate investor groups where people often share leads and offer partnerships. Sometimes, other investors pass on properties that don't fit their strategy but could work well for a BRRRR approach.

3. Lower-Priced Neighborhoods: For properties built post-1970, consider focusing on the C+ or B- neighborhoods in OKC. Some of these areas still have homes in the price range you’re looking for, and they may have good rental potential after some upgrades.

4. Auction Sites or Distressed Property Listings: Sites like Auction.com or Hubzu sometimes list properties that need work but are in decent locations and within budget.

Given your experience with renovations and your budget, exploring these options might get you closer to what you're looking for without having to compromise on property age or potential renovation challenges. Good luck, and feel free to reach out if you need local contacts or resources!

Hey there! Great to hear you're considering Tulsa for an LTR investment. Tulsa has some promising areas for new construction, especially at the price point you're aiming for.

You might want to check out East Tulsa and Broken Arrow —both have been seeing growth, and new construction options can still be found under $200K in some developments. Broken Arrow has good schools and a suburban feel, making it attractive for families, which could give you stable tenant demand. Owasso is another area to consider, though prices there may be on the upper end of your budget, but the rental demand is strong due to local amenities and a community-focused environment.

For a buy-and-hold strategy, these areas tend to offer good rental demand, relatively low vacancy rates, and potential appreciation over time. Feel free to reach out if you have any questions about investing in Oklahoma—I’m happy to help with insights into neighborhoods or connect you with local resources!

Oklahoma has some solid options for cash-flowing turnkey properties! Both Oklahoma City and Tulsa stand out as popular choices due to their affordable entry points and strong rental demand. In OKC, neighborhoods like the Plaza District and Midtown tend to attract reliable tenants and offer good cash flow potential. Tulsa also has areas like Brookside and Cherry Street, which are popular for their amenities and rental demand.

Absolutely, I’d be glad to offer some guidance!

Oklahoma could be a good fit for you, especially if you're open to exploring both STR and LTR options. OKC might surprise you with its steadily growing tourism sector due to expanding business hubs, cultural attractions, and its affordability compared to other major cities. If you're seeking a city with balanced occupancy that can support year-round demand, Tulsa might also be worth a closer look. It has a slightly more vacation-friendly vibe with its arts scene, annual events, and outdoor activities that draw visitors regularly.

Since you're targeting STR occupancy over 50% without extreme seasonal dips, you might consider neighborhoods near popular attractions, like Tulsa's Downtown Arts District or the lake areas nearby, which offer steady, diverse visitor interest. These areas also work well if you ever want to switch to long-term rentals in the future. In that price range, both OKC and Tulsa provide a variety of options for quality properties without straying too far from your budget.

If you’d like more details on any of these areas or property types, feel free to reach out! Good luck with your search!

If you're looking to invest under $200K, Oklahoma could be a great option to consider! Both Oklahoma City (OKC) and Tulsa have affordable properties with strong cash flow potential. These markets are landlord-friendly, and with growing populations, job growth, and solid rent-to-price ratios, you can still find opportunities to purchase below $200K and see positive returns. Additionally, the lower cost of living and minimal seasonal risks make property maintenance more manageable. It’s worth taking a closer look at Oklahoma if you're aiming for strong investment fundamentals!

I’ve been investing in Oklahoma for a while now, specifically Tulsa. It’s a landlord-friendly market with strong population and job growth, making it attractive for investors. Depending on what you're looking for, you can find a good mix of affordable properties, especially in the under $200K range. Neighborhoods in OKC offer a range of opportunities from stable B areas to value-add C+ spots. Definitely worth considering both for living and investing! Let me know if you have specific questions or need any advice on areas.

Hey!

Congrats on expanding your rental portfolio! To address your questions:

1.Purchasing with an LLC: Yes, you can buy properties under your LLC. However, financing can be different from the conventional route. Traditional loans (like FHA) are for individuals, not LLCs, so you'd typically need a commercial or portfolio loan when buying through your LLC. These loans usually consider the property's cash flow more than your personal income/credit.

2.Switching to an LLC: Transferring your property into your LLC can offer asset protection, but it won't necessarily make it easier to get future properties unless you're using LLC-friendly financing. Keep in mind that transferring the property could trigger a due-on-sale clause from your current lender, so you'll want to check the details of your loan before making the switch.

Hope this helps!

Congrats on taking the first step into rental property investing! South Dallas is definitely seeing a lot of changes, and gentrification can create opportunities, but it can also come with its challenges, especially with changing property values and tenant dynamics.

If you’re open to exploring other markets, I’d highly recommend looking into Oklahoma, particularly cities like Norman and Tulsa. Both offer affordable single-family homes, and they’ve got strong rental markets with steady demand. What’s great about Oklahoma is that the lower purchase prices often lead to higher cash flow compared to some parts of DFW. Plus, if you're interested in stable, long-term tenants, many investors in these areas, including myself, have had success with Section 8 rentals. The guaranteed income can make things a lot more predictable!

Feel free to reach out if you want more info about investing in Oklahoma or have any questions about the process. Best of luck with your investing journey!

Hey, welcome to the community!

That's great that you’re expanding, and Oklahoma City is a solid market with a lot of potential. Since you already have experience with rentals, you’re in a good spot. My advice would be to focus on cash flow properties, especially in areas where you can get consistent returns, and consider Section 8 housing for guaranteed income.

Also, leverage your experience in Portland to streamline processes with your new partner, and build a strong local team (agents, contractors, etc.) in OKC to make things smoother.

Feel free to reach out if you need any specific advice—happy to help!