If you are looking for long-term property investment options, then Oklahoma City is definitely the right place where investing your money would be sensible.
You may hire a property management company in OKC and they will surely be able to get you properties that can produce positive cash flow. You can also find an excellent real-estate calculator to help you to guide for making your decision.
Following are few good reasons to buy property in this city.
- Overall stability and growth of real estate market
Economic position of this city is very solid and it has always supported in the growth of market for housing. Following are few salient features:
- The economy of the city is diversified
- Steady growth of population
- Unemployment much below national average rate
- Real estate value is increasing steadily at 4% rate annually
- Rents are also steadily increasing
- Market for house rent is very tight
- Improvements in your quality of life
Though maintenance facility of United Airlines was denied to this city that was meant for improving quality of life in this city, but it has motivated all local leaders to bring many more improvement that can provide better quality of life for residents.
- Better rental rates
If you have new home which is less than 30 years old, you can earn rental value which is almost 1 per cent of your investment.
If your home is more than 30 years old then you are likely to get almost 1.5 to 2 per cent of your investment that you made.
- Oklahoma is considered as pro-landlord state
It has been noticed that most of the litigation that take place in the court for landlord is really a cakewalk if they want to evict their tenants.
After any property manager or landlord obtains court-issued judgment then the tenant will get just 48-hours to vacate. If they fail to do then they are locked out.
- Strong rental demand
Since vacancy rate in this city is quite low and hence there is a plenty of demand for rental property.