18 Years of Landlording, One Decision
Phil bought his first Broken Arrow rental in 2006, a 3-bedroom near the Aspen Creek area, when the market was still affordable and he had more energy than sense. He did the maintenance himself, screened tenants carefully, and treated it like a business.
By 2012 he'd added a second rental near South Elm Place. By 2016, a third near the 71st Street corridor. Three houses, mostly good tenants, a steady side income that supplemented his career in telecommunications.
Then he turned 63. His right knee needed replacement. His wife Linda had been patient for nearly two decades about the 2am calls, the emergency plumber bills, the security deposit disputes, and the weekends spent patching, painting, and repairing.
'Linda said: it's either the houses or the retirement trip to Alaska we've been planning for 10 years,' Phil told us. 'That wasn't a hard choice, really.'
Why Selling a Rental Portfolio Traditionally Takes Forever
Phil called a respected Broken Arrow real estate agent who gave him the honest assessment: selling all three rental properties through traditional channels would likely take 12–18 months. Here's why:
- Each property needed to be listed separately, closing 30–45 days apart minimum
- Each had a tenant whose lease needed to either expire or be honored by the new buyer
- Two of the three properties needed repairs before listing — total estimate: $34,000
- Tax implications of selling three investment properties in the same year would be significant without planning
- He'd need to manage showings and inspections while properties were occupied
Phil did the math. At the current pace, Linda would be 70 before they took the Alaska trip.
One Week, Three Houses, One Buyer
Phil found us through a recommendation from a retired colleague who'd sold a rental to us the previous year. He called expecting us to want to pick the best of the three and leave the others. We told him we were happy to look at all three as a portfolio.
We visited all three Broken Arrow properties over two days. Two had tenants in place. One was between tenants and partially vacant. All three needed varying levels of work — nothing catastrophic, but the normal wear-and-tear accumulation of 10–18 year old rentals.
We came back to Phil with three individual offers and one portfolio offer. The portfolio offer — buying all three at once — was slightly higher in total than the sum of the three individual offers, because it simplified our process and transaction costs.
Portfolio offer: $712,000 for all three properties.
Phil had a tax advisor run the numbers on the capital gains implications. His advisor noted the 1031 exchange option, but Phil said he wasn't interested in deferring taxes — he was done with real estate entirely.
Phil accepted the portfolio offer on a Wednesday. We started title work on all three simultaneously. The tenants were notified of ownership transfer per Oklahoma landlord-tenant law. We closed all three at the same title company on a single closing day — 14 days after the offer was accepted.
Phil left the closing office and called Linda to tell her to book the cruise.
Broken Arrow Rental Market Dynamics
Broken Arrow is Oklahoma's second-largest city and one of the strongest rental markets in the state. With top-rated schools, low crime, and strong job growth, demand for quality rental housing remains high. Investors who bought in Broken Arrow in the 2000s and 2010s have seen significant appreciation.
The areas where Phil owned — near Aspen Creek, South Elm Place, and the 71st Street corridor — all command strong rents and steady tenant demand. We actively seek rental properties in these neighborhoods and throughout all of Broken Arrow.
What Retirement Actually Looks Like
Phil and Linda took the Alaska cruise six weeks after closing. Phil had his knee replacement surgery, something he'd been putting off because he couldn't afford to be off his feet while managing properties. He was back to walking normally in six weeks.
'People think landlording is passive income,' Phil said from recovery. 'It's not. It's a second job. A job where your boss can call you at 2am to say a pipe burst. I don't miss it for a second.'
If you own rental properties in Broken Arrow, anywhere in Tulsa County, or throughout northeast Oklahoma and you're ready to stop being a landlord, call us at (918) 844-7976. We buy single properties or entire portfolios.