Since I got back from Houston I have been working with my investment assistant, Orjana Beck, on putting together the right type of investments for the weekend conference being held in San Francisco. Orjana has already left for San Francisco and I am staying behind. I am trying to take a gradual approach to getting back my strength after my successful battle with cancer, but that kind of situation often leads to good solutions. I will appear befor 200 people tomorrow on Skype Video. It will be just like Oprah. By June I will be ready to go to San Francisco and walk those impossible slopping streets.

On to the opportunities. Oklahoma City has the big 4 parameters of buying real estate with positive stats. Those 4 are jobs, inventory of homes level, foreclosure rate, and affordability. We are No. 1 in the nation in unployment in metropolitan areas over 1 million at 4.6%. Out investment properties are in absorption rates of 6 months or below, a sellers market. The forecloures in OKC constituted only 4% of sales. The L.A. Times said two weeks ago that SoCal was 60%. Lastly we are the most affordable major city to live in accroding to Forbes. That last one is a biggie and very often neglected. Now that we are in a traditional real estate market again, we have no sub-prime mortgages enabling a bigger and bigger bubble that has now burst. Now, if you price way above the affordability level you won't sell, and you don't build new what people can't buy with normal qualifying terms. For me this is a refreshing bit of sanity.

We know that it is still hard to get good investor loans, although it is easier here because we did not go down in value last year and we are holding our own this year. But we do have condo conversions from apartments starting at $46,900 that are already rented at $495 per month, and during summer months should be $550. If you buy cash we pay all the closing cost, and if you finance we give you 2 Points. These are studs out total remodels next to a college campus and 5 minutes from downtown and the state capital complex as well as 4 major hospitals. We are building on the same street two new complexes of around 50 units so the street will look great.

We have condos in Norman close to the University of Oklahoma starting at $78,900. They are brand new in 4 story buildings, with 27 retail locations on the first floor of the 3 buildings. They are already leased and the owner will carry you. If you put 20% down, they fiance a 10% second for one year, the main note is a 30 year am schedule at 7%with a 5 year balloon. Even with the second they cash flow. No Fannie Mae guidelines to worry about and no up front closing cost or fees. The same company has already rented new single family homes at $119,000 with a $995 rent. In all of these cases the builders have paid the upfronr rental fees. To obtain more information like pictures and spread sheets contact me at joe@joepryor.com.