Succeeding in Real Estate in Oklahoma
Do Not Get Caught Up in the Weeds
Matthew Hicks is an independent business owner with HomeVestors® of America, Inc. in Oklahoma City, which he started in 2019 after graduating from Washburn University in Topeka, KS. His primary focus is on buying, rehabbing and selling residential properties.
Life Before HomeVestors
Upon graduating college with a degree in Accounting & Finance and “baseball,” Matthew bought his franchise in 2019 at the age of 24 in Oklahoma City. Outside of a brief four-month internship with a lending company while in college, he began his company, Sunrise Property Solutions, with minimal experience in the real estate world, relying on strong mentors and the proven systems within HomeVestors.
The Beginning of Sunrise Property Solutions
Matthew settled in Oklahoma City with his wife, Mackenzie, so they could be closer to family. Mackenzie, a nurse by training and profession, and also a real estate agent, recently joined the real estate company full-time handling asset dispositions.
The Oklahoma City real estate market is strong and has grown drastically over the last few years, according to Matthew. “It is a strong rental market and also strong for first-time homebuyers,” said Matthew. “That is why we focus primarily on single-family rentals and currently buy about 17-20 houses per year.”
Oklahoma City has seen steady growth in both its population and its economy over the years. With a low cost of living and a diverse range of industries, it’s a great place to invest in real estate. “It is one of the most consistently growing housing markets in the United States,” Matthew explained.
In October 2022, Oklahoma passed a law basically making some forms of “wholesaling” illegal. The Oklahoma Predatory Real Estate Wholesaler Act (the “Wholesaler Act”) prohibits many wholesaling activities by banning public marketing prior to closing. Because the “Wholesaler Act” was passed only recently, the exact application and scope of the legislation remains unclear, which is why Matthew does not do wholesaling.
Matthew spent his first two years in real estate learning about rehabs and working with contractors. Admittedly, he said starting out he made mistakes regarding over-estimating rehab costs. However, with experience, mentors and proven systems in place, he has overcome those rookie mistakes.
Present Day
With four years now under their belts, Matthew and Mackenzie have two new career goals: Buying 35 homes in 2023 and having 50 houses in their portfolio paid off by the time he reaches 50-years old. “And with Mackenzie joining the company full-time just a few months ago, the company is well-positioned to achieve those goals.”
Advice from an Expert
“I followed the HomeVestors systems right out of the gate,” said Matthew. “So, my advice for anyone just getting started in real estate is quite straight-forward:”
• Find systems you can trust.
• Find a mentor early on to avoid costly mistakes.
• Do not get caught up in the weeds.
• Learn how to work with contractors.
Homevestors
What exactly does it mean to be a HomeVestors® business owner? Owning a real estate business is life changing and naturally comes with risks! When you become a HomeVestors business owner, you get immediate access to motivated seller leads, financing resources for qualifying purchases and repairs, one-on-one coaching with your local Development Agent, proprietary software for analyzing properties and deals, and access to a nationwide network of coaches and peers. Your house-buying business is yours and you run it as your own venture with a focus toward your individual business goals.
If you are interested in a franchise, call 866-249-6932, email Sales@homevestorsfranchise.com or visit www.homevestorsfranchise.com. Each franchise office is independently owned and operated.
