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Anyone have real estate market experience in Tulsa?

Beauregard

Beauregard

Aut Agere Aut Mori
Joined
May 18, 2003
Location
There’s a corner of my heart that is yours. And I
Moto(s)
elude me.
Name
Guess....
So as I'm am known to do, I'm coming to The Sink for your opinion- experience based hopefully.

I'm thinking of a residential real estate investment in Tulsa because from what I've seen the rental market is prime for renters and the home market is prime for buyers, ie: there seem to be lots of juicy home deals bit no buyers because of the lack of available credit and/or qualified buyers; and there is a lack of rental inventory because would-be buyers have to rent.

Anyway, your thoughts? And no, for business reasons Tulsa is where I'm considering- I'm not interested in looking at other markets.
 
Based on what you have said, it sounds like a good investment. My uncle owns property in Edmond and another in a small town further south of Norman. I haven't heard any rental nightmare stories from either of them.
 
I am happy to say I have no real estate market experience in Tulsa, although I bet some of them pickup driving ladies would be a lot of fun down by the swimming hole.
 
Beauregard said:
I'm thinking of a residential real estate investment in Tulsa because from what I've seen the rental market is prime for renters and the home market is prime for buyers, ie: there seem to be lots of juicy home deals bit no buyers because of the lack of available credit and/or qualified buyers; and there is a lack of rental inventory because would-be buyers have to rent.
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Not in that specific market (and we've been looking at mutli-unit properties), but we've had a few full price pre-approved offers rejected in favor of cash offers. The credit crunch hasn't necessarily slowed the market for multi-unit rental properties, but it has made sellers a bit skittish. If you have cash, you're in a much stronger position.
 
I'll manage it for you, Beau. I spent almost five years living in Oklahoma.
 
Beauregard said:
Naw dude, that gets in the way of my evil plan to get you to move here.
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:laughing

I'm a lot more trustworthy than implicit trust for a blind company. And I actually know Oklahoma and my way around it. :teeth

Besides, I still have to buy a Harley before I can move up there. That and have a job lined up. :laughing
 
hmmm ... a barf community... how would THAT work ?


(sorry for the thread jack Beau :twofinger )
 
Tulsa. You can see for miles and nothing to look at.
 
Oh, forgot Oral Roberts University. What kind of nutjob evangelist gets called "Oral"?
 
Crime rate is twice the national average, not too far off from Oakland.
 
I hear that the wavin' wheat can sure smell sweet, when the wind comes right behind the rain.
 
gnahc79 said:
I hear that the wavin' wheat can sure smell sweet, when the wind comes right behind the rain.
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The corn is as high as an elephant's eye and more twisters than an orgy in a phone booth.
 
How long does the twister season last? I will be in the area this week and again in July. Gotta get me some twister actions (from afar of course).
 
I have a house a Sallisaw Ok, which is on I-40 near Arkansas. The market is awesome for buying up houses for rentals, but you have to buy the cheaper hosues in neighborhoods.

I bought my NEW 1900 sq ft brick home on 1 1/3 acre for $120k and i pay about $850 a month. In Oklahoma (once the highest forclosure state in the US) the housing market is suppressed the prices will never go up like in California. The profit you will make is having people pay down the mortgage. Also, they never really went down during the crash that much anyways, maybe 10-15%.

The biggest issue with buying rental properties is the availability of low cost housing. You would think you could rent a new house for $850 a month but highly unlikely. I have been renting my place for $550 a month. The $300 a month is a loss and a tax right off which i get back at the end of the year.

If i was going back i would buy every house under 100k and rent them.
 
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