Ultimate Guide to Oklahoma Real Estate Investement

-

Real estate investing has been a great opportunity to stable your financial future. It is obvious to have risks on buying, and selling houses for a living. All you need is a plan to work on. You’ll make some mistakes as you learn. This is why the ultimate beginner's guide to real estate investing is for.

Real estate investing gives you an approach to varying your investments. There are various factors affecting the real estate investing economy. And there’s consistently the possibility that one can crash while the others flourish. Staying updated in a few distinct business sectors protects you from risk.


Here is Real Estate Investing Tips for Beginners in Oklahoma:

Most Real Estate Investors New at OKC Market Don’t Know What to Focus on 

Don’t be the investor who gets led around by their realtor, just making offers on properties their realtor thinks they have the best chance of getting close. This is especially true for out-of-state real estate investors.  

The way to fix this is to fire a realtor who is reluctant to make an offer they don’t think will have a good chance of being accepted.  I’m not talking about feedback like “as competitive as the market is right now, I think there is less than a 50% chance of this offer being accepted.”  That’s fine.  But they need to be fired for saying they won’t present the offer because it will be a waste of their time. 

Many OKC Investors Focus on the Insignificant Tasks

Beginners focus on unnecessary tasks because there is a fear of what doing the important ones would mean. Don’t worry here is the ultimate beginner's guide to real estate investing.

The brain is a funny thing.  The second you start doing something uncomfortable, it puts on the brakes.  That’s why so many salespeople switch careers.  They can either figure out how to deal with the discomfort of people telling them “no” all the time, or they can’t.   



What do the most successful Oklahoma City Real Estate Investors do?

One big myth is that all successful Oklahoma City real estate investors need to do this as a full-time profession. In fact, quitting a full-time job to do nothing but real estate investing can be a mistake because it can (this should be obvious, but…) deprive you of income to pay your living expenses. And, banks frown upon that kind of thing.  

I know a whole bunch of Oklahoma City real estate investors. Some do nothing but manage their rental properties, but others have full-time jobs. They have rental properties because they can’t find a better investment out there. Here are some observations about this group:
  • They use the best property management companies in OKC because they have better ways of spending their time.  
  • The time they allocate to investing is spent on a vital few things, such as finding deals, keeping a close eye on the performance (management) of their properties, and networking.
  • They have a consistent and disciplined approach. They have concrete goals, and a plan to achieve their goals.  
  • They are committed to their success. They get up when knocked down, over and over.  
  • They set realistic goals, and they achieve them.  

3 Reasons Why Real Estate Investing in Oklahoma City is Making Investors Rich

It’s definitely possible to find properties that make sense from a long-term investment standpoint in the OKC real estate market.  As long as you make good choices upfront, you can find properties that will produce a positive cash flow. There is an excellent Rental Cash Flow Calculator for your ultimate decision-making. 

1. Growth and Stability of Oklahoma Real Estate Market

It’s clear the economy of the Oklahoma City metro area is on solid footing.  This has supported the growth of the housing market.  Real estate investing in Oklahoma City wouldn’t be nearly as attractive if the job sector was weak.  But unemployment is low, fueled by the dynamic economy, which supports a steady increase in population.  

2. Rental Rates versus Sales Price in Oklahoma City

The reason you are reading this article is to find out if you can get a good enough cash flow such that real estate investing in Oklahoma City would make sense from a return on investment perspective.

Sell Versus Rent Assessment Guide: Should You Rent Out or Sell Your House?



3. Strong Rental Demand of Oklahoma city housing market

Let’s face it, real estate investing in Oklahoma City wouldn’t make much sense if there weren’t a strong demand for rental properties.  The fact is, there is a strong demand for rental properties in the OKC metro area.  

As stated above, the average rental property vacancy rate for the OKC metro area in 2017 was 8.5%.
As a result of this demand, 2,000-3,000 permitted multifamily units were built each year between 2012 and 2016 in the OKC metro area.

Best Strategy for the Beginning Oklahoma City Real Estate Investor


The best real estate investment strategy for the beginning OKC real estate investors is to invest in newer single-family homes as a rental property. You will need to determine your monthly cash flow. Be sure the monthly cash flow is positive. By investing in newer homes, you will be paying less for

  1. Develop A Broad, General Strategy That Will Get You Where You Want To Go
  2. Figure Out Your Money
  3. Don’t Be In Too Much Of A Hurry
  4. Don’t Get Bogged Down In Tactics Until You Have Your Strategy Nailed Down
  5. The More Focused You Are, The More Successful You Will Be
  6. The Best Real Estate Strategies are the most Simple
If you would like to see some current, available properties, call Property Management OKC company. OKC Home Realty Services understands how important your rental property is to you.

Comments

Post a Comment

Popular posts from this blog

Duties and Responsibilities of Property Managers

-
Image
A property management firm has an obligation to the owner to make sure the business is operating to fulfill the owner's objectives and to earn a profit. Therefore, it is important for a property manager to make decisions that keep the owner's business profitable and protect the owner's investment.  From a tenant's perspective, a property manager is responsible for ensuring that the tenants have a safe living environment, that their rental payments are applied to the correct account, that the lease sets forth the responsibilities of both parties, and that the property is managed in a professional manner. Property management refers to the act of servicing and maintaining all the rental properties which are owned by an individual or a company. The owner does not necessarily need to reside in the property. No matter how talented you are in the real estate business, you will not be able to succeed in it if you do not have the required knowledge and skills.  There are some
Read more

5 Tenants Screening Questions To Ask New Renters - OKC Home Realty Services

-
Image
Getting a good tenant who is going to take care of your property, pay the rent, and not be a constant pain is one of the most critical responsibilities of property management companies . Introduction: Oklahoma Tenant Screening A better tenant screening process makes it easier to eliminate poor quality tenants, which increases occupancy and their profitability. This article shows you how to screen tenants for a rental property. I’m going to share different ways property management OKC performs while screening tenants for rental property . Once you have a prospective tenant raise their hand and say, “I want to rent this property” you need to have an application you can get into their hands. Our rental application focuses mostly on three things: rental history, their monthly income, and their court records.  How to Do Background Check on Tenants   Questions To Ask While Screening Tenants One of the simplest ways to avoid wasting lots of your time and energy during the screening process
Read more

How is the real estate market in Oklahoma?

-
Image
The real estate market in Oklahoma is doing very well. The population in the state has been growing rapidly and with it the job market. This has led to a strong rental market, as newcomers flock to the area in search of work. The real estate market is also benefitting from low-interest rates.  Housing prices in Oklahoma City have increased 13.2% over the past year. The median home cost is $124k, cheap compared to the United States. While prices are increasing, they are still affordable when compared to other states. So if you're looking for a place to buy or rent , Oklahoma City should be at the top of your list!  The  Oklahoma City real estate market is booming , with the number of single-family homes for sale down by nearly 50% compared to last year. The number of renters has also increased, as over 40% of households in OKC rent rather than own. This is due to the high prices and low inventory of homes in the city. However, Oklahoma City offers a great quality of life, which cont
Read more