All Forum Posts by: Kiera Underwood

@Thomas Rudison I agree with @Jim S. on being an easy one for an audiobook. It's very simple but definitely drives an important message home. It's been the starting point for so many investors that I've talked to! 

@Lionel Li what great advice! 

@Caleb Landis I couldn't agree with Lionel more. I hope your search is going well and that you've had success with a team in any market! 

@Nic S. I'm happy to talk to OKC anytime. Glad we connected! 

@Obi Emegano there is a pocket in NE OKC where prices might be best and the numbers will look the best for doing a light rehab, but if problem tenants are a bigger concern to you, then you might run into trouble. I've got a map that outlines different areas and what to expect from them, but it's not letting me upload. 

My response to where is the best place to find multifamily is really wherever you can get a deal. Multifamily that's priced right is scarce here. Hook up with a team that can advise you on what's good and what's not and pull the trigger quickly if you find multifamily that hits your goals. Location is less important if the property's history shows that it performs and you have a property manager that will take care of any issues for you! 

@Robert Trest You're seeing the struggle of on-market inventory! When they do pop up they go fast. I love that you're looking for a house hack. I and several friends have done the same thing. You're right that it's tough to grab multifamily at a good price here. If you'll only be here part-time a modest single-family mortgage won't be too big of a hit on your wallet. If you're looking near Will Rodgers, you can definitely find easy to manage price points that will cash flow for you once you rent it! Happy to answer questions for you about OKC. Good luck! 

@Obi Emegano it's slowly growing but it's not an exciting market like it sounds like you might be looking for. People invest here for stability and cash flow. You won't wake up in 3 years with equity that will allow you to retire, but you will hold rent rates through downturns, cash flow while you own and can bet on cashing out in 20 years when you sell.  

@Chrisford Fausta Caleb Brown has advised correctly. You'll need 3.5% of the purchase price as well as closing costs. I'd budget at least 5k for those! Just shoot for a property that when you move out you can charge high enough rent to cover your mortgage, insurance, taxes, and ongoing maintenance each month.  

@Jaden Adams if you're facing debt with college, I'd go to a smaller school and knock it out as fast as possible. Live with your parents or as cheaply as possible. Make it less expensive and grind to have it in your back pocket. I have a degree that I don't use. I'm 100% in real estate, but you better bet it provides some comfort in the back of my mind.

@Nancy Luxama OKC is my bread and butter. You CAN get multifamily here, but you have to move quickly when it becomes available. That said I've seen 5 or so in the last couple months at 7% cap rates. Single family here normally yields better returns, but if multifamily is the most important factor, you can make it work. You might just wait for some time! Price point is likely a little more approachable than Orlando, so that might be a perk worth waiting on! 

We also have a slow but steady population growth. We're very steady through recession and taxes are at only 1% of purchase price! Not too shabby (: 

@Latham Gaines I secod @Will Fraser a house hack is the way to go! Bring 5% down with a conventional loan on a multifamily property and use the rest on another property!