All Forum Posts by: Steven Spencer

Hey Chris, just checking in to see if you’ve found an agent to connect with?

Ben Scott mentioned some great areas — Del City, Midwest City, and South OKC all tend to offer solid rental potential in that $200k range. I’d also add that there are some good opportunities that pop up in Canadian County, especially around Yukon, Mustang, and El Reno. Those areas have strong rental demand and often attract long-term tenants.

I’m a local Realtor based in Canadian County and OKC Metro and work with investors regularly. Happy to walk properties, help run the numbers, and give input on what might rent well based on your goals.

Feel free to reach out if you’re still looking for someone on the ground here — glad to help however I can.

Hey Lee, you might want to check out a local meetup called Coffee with Real Estate Investors... they usually meet the first Wednesday of the month around 7pm. It’s a good spot to connect with other investors who’ve been through a few deals and can offer solid feedback. Next one is May 7th.

I’m a local Realtor based out of Canadian County and work with investors pretty regularly around the metro. Don’t have a ton of time to fully mentor right now, but I’m always happy to answer questions or offer input if you ever want to bounce ideas off someone.

Feel free to reach out anytime. Keep at it! 

I’m a new BiggerPockets Pro member and currently working on two investment properties — one I’m fixing up to setup as a rental, and the other I’m house hacking with plans to convert to a rental and buy again within the year.

I’m a licensed agent based in Oklahoma with over 10 years of real estate experience. I spent about 5 years as a superintendent, building homes for a local new construction builder and got my start helping an investor manage their portfolio right out of college. These days I’m a Realtor focused on working with other investors and building my own rental portfolio.

Looking forward to being more active here and connecting with like-minded folks!

Welcome to the world of investing, and props to you for doing the homework early, that makes a huge difference. I’m a licensed agent here in Oklahoma and work with a lot of investor clients in the OKC metro, so I figured I’d chime in and share a few thoughts from the local side.

I haven't had any clients go through Xome yet, but I've looked into it quite a bit, especially for bank-owned properties in our area. From what I understand, most of what's listed on Xome is REO, so it's more structured than a traditional sheriff sale. You're usually dealing with a property that's already gone through foreclosure and is now owned by the bank.

In most cases, title issues are cleared up before closing, and you should be able to get a title policy. That said, I’d still recommend checking with a title company once you’re under contract, just to be safe.

The auction process itself is kind of like eBay... properties usually have a reserve price, and a buyer’s premium might get added to the final amount. Just make sure to read through the terms closely since each listing can be a little different.

If you win the bid, the closing process moves pretty fast. You’ll need to fill out a checkout form within 24 hours, which includes how you want the title held and how you’re funding the purchase. After that, they’ll send you an Auction Addendum to sign electronically. Closings usually take 10 to 30 days, and you’ll go through escrow. The type of deed you receive whether quitclaim, special warranty, or general warranty  depends on the property.

If you’re out of state and can’t get to the property, it’s worth finding someone local to walk it or grab fresh photos. Even on REOs, condition can vary quite a bit.

Let me know if you ever want to go over anything specific in this market. Always happy to help however I can.

Yeah, I’ve heard of it, but I haven’t personally done it yet. From what I understand, it’s mostly used in two ways:

One is when an agent already has a buyer lined up and just wants to protect their commission. So they’ll do a one-day agreement with the seller that basically says, “Hey, if my buyer ends up buying your house, I get paid.” Simple and no long-term commitment.

The other way I’ve seen it used is more of a marketing play, like the agent will offer to hold an open house or blast it out to their network for a day. Then the agreement just covers anyone they bring in during that time. If one of those people ends up buying, they’re covered.

You're right though, NAR doesn't allow auto-renewals, so it's really just a way to build trust and maybe turn it into something more if the seller likes how the agent handles things.

Honestly, I think it’s a creative way to help FSBOs without pushing them into a full listing contract right away.