Tuesday, April 29, 2008

Tulsa Update (8/17/2007)

I just returned from two days in Tulsa. I like this town! A combination of mid-America heartland and southern charm, the Tulsa area is the home to just under 1,000,000 people. Historical Route 66 runs through the middle of the downtown area and the history is evident in the art deco architectural style of the many buildings along this roadway. Oklahoma is a fairly new state: it will celebrate its centennial on November 16 of this year and it holds a youthfulness, freshness and energy. The town’s original growth surge was based on the local oil and gas industry and these industries still have a powerful impact. Oil and Gas are the old money in town. Tulsa’s current growth is from the many firms that choose the area for their regional headquarters and call centers. The travel giant Sabre is based here, American Airlines has a major maintenance facility here and Tulsa is the headquarters of Vanguard Rent-A-Car and the combined Thrifty/Dollar Rent-A-Car. One of the factors which provide a stable growing economy is the diversification when more then 80% of the jobs are from small businesses. What was once a single industry town dependant on the oil & gas industry is now a stable economy which is very recession resistant. What do we like about Tulsa from a rental property standpoint? Tulsa is providing our clients with strong rent/value ratios. The cost of ownership is kept low by the income tax. Since Oklahoma has a state income tax it does not need to heavily tax homes. This saves our typical client $2,000-$3,000 per year in taxes versus a comparably valued Texas home. If you are one of our clients with investment properties in Tulsa, you should get dialed into this exciting town with more information available at http://en.wikipedia.org/wiki/Tulsa,_Oklahoma .

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