If you are looking for an investment that offers predicable cash flow, appreciates over time, and offers you tax benefits the real estate is perfect for you!
With a well-maintained property and a reputable property management company, real estate investors stand to receive a stable and steady source of income. Every month or quarter, you can receive a sizeable income from your investment, even after operating expenses have been deducted.
Provided that the property market is doing well, property tends to appreciate over time. In addition to receiving a steady stream of income, your property increases in value. When the time comes for you to sell, you can do so with a smile on your face.
You stand to gain all these benefits if you invest in the right property market. Located just outside of Oklahoma City, Norman is the perfect area for your next real estate investment.
Keep reading this piece to find out why you purchase your next investment property in Norman, Oklahoma!
Why Target Norman, Oklahoma Real Estate?
When you’re looking to invest in property the area you choose will play a major role in how successful the investment is. It’s important to consider the market in the area, amenities offered, the economic state of the region and surrounding areas and so much more.
The following are just a few of the reasons why Norman, OK is a great area for your next real estate investment:
Affordability and Appreciation
As a potential investor in Norman, Oklahoma’s real estate, you cannot deny that the price of a property is one of the key factors that you will consider. After all, funds are a resource that must be used effectively and efficiently.
Norman was ranked as one of the more affordable housing markets, and this is not in the State of Oklahoma but in the entire country. If you’re an out-of-state investor looking for an affordable option, this is the city to target!
Because of its affordability, investors and households have been looking to purchase property in the city. Some are looking to offer them up as rentals, others as their primary residences and some are setting up for retirement in the area.
The sudden interest in Norman real estate has resulted in an increase in property value. It is the common reaction for a commodity influenced by demand and supply. But it’s not too late to invest in Norman, just make sure you act fast!
Norman’s prime location is another reason why it is home to new residents almost on a daily basis. The city is situated on the busy Interstate 35 corridor, sandwiched between Oklahoma City and Dallas Forth Worth.
Young professionals choose Norman because they can easily access their offices and save up on living costs.
There are also two airports that are located in close proximity to Norman; the Will Rogers World Airport and the University’s Max Westheimer Airport.
Strong Rental Market
There is a strong demand for Norman housing. Compared to housing options in Oklahoma City and surrounding areas, renters can get cheaper options in Norman without having to compromise on quality.
This means that if you’re thinking of becoming a landlord, or are looking to add more properties to your portfolio this market will be very fruitful.
Keep in mind, however, that the success and viability of your investment real estate lie in how well you can maintain your property, comply with State rules and provisions, and offer quality services and amenities to your tenants.
In most states, processes, and regulations on property taxes, rent control and eviction tend to favor the tenants over the landlords. This is not the case in Oklahoma State.
A proper example of this is the eviction process. The State of Oklahoma requires that landlords give truant tenants only a five-day notice. This can be further escalated to a court of law where the landlord will file for a court date. Within a week’s time, the judge can make their ruling. Within 48 hours of the eviction ruling, the tenant should move out.
The city has high-ranking high schools that are a draw for young families. The education system in Norman is one of the best in the State. This is great news if you’re trying to target young families as your key demographic.
Situated south of downtown Oklahoma City, Norman is the ideal choice for that real estate investor looking for an affordable option. With quality services and amenities and a small-knit community feel, residents can testify to the quality of life and satisfaction of living there.
Draper Realty takes great pride in its reputation as the leading property company in Norman. Our in-depth knowledge and experience make us a valuable partner for that investor looking to enter the real estate industry.
Why don’t you give us a call today? Our team of dedicated experts will be happy to answer any questions you may have!