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Air Conditioning Has Just Gotten Very Expensive for your Oklahoma City Rental Property

It’s the time of year when the air condition systems in those Oklahoma City metro area rentals require maintenance.  Rule one for any property management company is to have a good heat and air company at their beckoning call.  Rule two is to have one or two back up contractors, because something always seems to happen to the really good contractor at the worst possible time...either they get busy on somebody else's projects, or worse. The big items to keep an...

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How to Guarantee You can Avoid Bad Tenants

My friend Jack Werner recently interviewed me about Oklahoma City property management.  Here is a portion of that interview: Jack:  How do you guarantee (if there is such a word), that you avoid those bad tenants?  What can you do to really make it as safe as possible and know that you’re getting a good tenant for the property? Scott:  Well Jack, it all starts with having the right information. My OKC property management company, OKC Home Realty Services,...

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Inner South: the Second Highest Cash Flow Potential Neighborhood in Oklahoma City

The south side of Oklahoma City gets a lot of attention from real estate investors.  But what about the older areas closer to the Oklahoma River and downtown?  Recent suggestions have been made in the media that this particular portion of Oklahoma City has the potential to see the greatest development over the next ten years. But what about right now? The near-downtown area of Oklahoma City is one of the hottest areas in the metro right now for investors.  So how...

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Inner Northwest Oklahoma City: The Hottest Northwest OKC Neighborhood

The near-downtown area of Oklahoma City is one of the hottest areas in the metro right now for investors.  So how good is the cash flow, based on actual numbers? In this blog post, I reveal the cash flow for the Inner Northwest Oklahoma City metro area.  The data used in this analysis was presented in Volume 1, No. 1 of The Nachatilo Report. The Nachatilo Report was created because there is no compilation of rental rates for the Oklahoma City...

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Report Reveals the Highest Cash Flow Neighborhood in Oklahoma City

In this blog post, I reveal the highest cash flow neighborhood in the Oklahoma City metro area.  The data used in this analysis was presented in Volume 1, No. 1 of The Nachatilo Report. The Nachatilo Report was created because there is no compilation of rental rates for the Oklahoma City metro area.  The data was collected June 2013, and is a snapshot of the 2nd quarter. As you'll see, the neighborhood with the highest cash flow potential in the Oklahoma...

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Don’t Sell your Oklahoma City Rental Properties: The Rental Market is Strong (Part 2)

If you are considering selling your Oklahoma City rental properties, don't do it. This is the second in a series of four blog posts telling you just why I believe that you are far better off holding onto your rental properties than selling them. In the last blog post, I showed you why, in my opinion, real estate prices are relatively low in the Oklahoma City metro area. In the blog post, I show you why the...

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Do NOT sell your Oklahoma City Rental Properties (Just Yet)

At times, it's very tempting to want to sell your rental properties. This is particularly true if your OKC property management is not going well. The blog post is the first in a four part series about why you should NOT sell your Oklahoma City rental properties. It comes down to simple math. I’m going to share four compelling reasons to hold onto that real estate, starting with reason #1 in this blog post....

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Maintenance Costs for your Oklahoma City metro Rental Properties

Maintenance costs on Oklahoma City metro rental properties can be the difference between making a profit and losing money.  This article describes the maintenance costs you should expect for your OKC rental property. Maintenance costs for an older home should ideally cap out around 10% of your rental income.  This is different from capital costs, like those things you do between tenants to improve the value of the property.  For example, the cost of changing a roof if the roof needs...

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Typical Vacancy Rates for Oklahoma City Rental Properties

Vacancy rate is a very important factor in determining how profitable an Oklahoma City rental property is going be.  One thing is for sure, you can't just use a one-number fits all scenario.  I know this from doing property management since 1996. However, there is more at play than just neighborhood.  The other parts include the property itself and the property management company.  This blog post discusses the vacancy rate you can use to project what your net operating income should...

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Two Other Key Reports You Should be Receiving from Your Oklahoma City Property Management Company (Part 4)

This is the forth post in the series on reports that you should be getting from your Oklahoma City property management company.  In prior posts, I've talked about monthly itemized statements (financial progress report) and inspection reports your property management company should be providing for your rental properties.  In this blog post, I'm going to talk about two specific types, called "red flag" reports and vacancy reports. Red Flag There should be some events that trigger a report...

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