OKC Property Management

At times, a good real estate partnership is indispensable. Take, for example, a money partner I joined forces with when I was just getting started as a real estate investor in the late 1990s. In this article, I’m going to share my personal experience in two of the partnerships I’ve entered. And, some general principles to apply when you are considering whether or not to enter into a partnership.   Back to my story about my potential money partner. He was a mutual friend of someone I worked with. My mutual friend had known this person for a long time and had a sterling reputation. My prospective partner at the time was long on cash and short on time because of his career. I was the opposite; I didn’t have much in the way of investment funds, and I made it a priority to spend a good deal of my time away from work focusing on real estate investing. I already had a track record with the ten or so rentals that I owned at the time.   Note: Also ...

As of the writing of this article, it’s definitely a seller’s real estate market in Oklahoma City.  That means that there are more buyers than sellers, and prices are being pushed up.  A number of factors are contributing, but in very basic terms, there are more people coming into the city than moving out.  And there are also demographic changes going on that are also causing an increase in the amount of housing we have available.   It’s not certain how long this seller’s market cycle in our real estate market will last, but at some point, it will be over.  Properties will be harder to sell.  During those times, I financed the sale of several properties.  In this article, I’m going to cover the benefits and drawbacks of financing those purchases.  Here is a guideline for Owner financing and how does it work. Why Would They Buy Under Those Terms and conditions? The main benefit to the seller is that they get a higher price for their pr...

Recently, the US Labor Department reported that the annual rate of inflation was 5.4% as measured year over year .  Let’s face it, the costs of everything are going up.  That includes food, energy, taxes, insurance, household goods, etc.  Basically, anything you can buy is getting more expensive by the day what leads to raising the rent. Rents are also going up.  From January through September of 2021, the national increase in rental rate has been  16.4% .  Rents were already going up prior to 2020, but the Covid 19 pandemic hastened that increase.   It is reported that rental housing prices have increased 7% in the OKC metro area year over year.  Landlords Guidelines to Raising the Rent As an owner, your rental property is an excellent hedge against inflation.  When rents go up, it’s up to you to insist that, if it’s possible, the rents in your rental properties keep pace with the market.  After all, you can count on all of ...

Tons of time and money goes into managing a property. Therefore, a bad property management company will only accelerate the time and money required to perform the involved tasks. It is helpful to find a property management company that is efficient in maintaining the property, finding good tenants, and running things smoothly. However, not all property management companies are made equal. Therefore, you should be keen to notice some red flags and avoid hiring property management companies with characteristics like these. No Licences Depending on your locality, property management companies should have licenses. Find out the licensing the property management companies should have before hiring them. Only work with a company with a real estate license and any other required documentation. These documents will help you to build trust with the company and avoid fraudsters. In addition, you will gain peace of mind working with a credible company that meets all of the required real esta...