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Thread: The Elliott

  1. #26

    Default Re: The Elliott

    Quote Originally Posted by PaddyShack View Post
    I just don't know where all of these high paying jobs are?!?! Whenever I go out and look for a new job it's hard finding something that pays more than my current position. Is there really that much money in O+G??
    It's not just oil and gas, there's plenty of money being made in the medical field, legal, real estate, banking, etc.

  2. #27

    Default Re: The Elliott

    Quote Originally Posted by sooner88 View Post
    It's not just oil and gas, there's plenty of money being made in the medical field, legal, real estate, banking, etc.
    But also yes, there's that much money in oil and gas

  3. #28

    Default Re: The Elliott

    Quote Originally Posted by PaddyShack View Post
    I just don't know where all of these high paying jobs are?!?! Whenever I go out and look for a new job it's hard finding something that pays more than my current position. Is there really that much money in O+G??
    I think youíd be really surprised at the large number of Young Money, Cash Money Engineers working for outfits like Devon and CLR, making well over $200K per year JUST in base compensation. Most of them also end up receiving a decent amount of equity in their respective companies.

    Thereís Money in the Ground, as they say.

  4. #29

    Default Re: The Elliott

    AND, don't forget about OKC's blossoming IT industry and the Corporate diversified jobs coming online.

    Lots of money and these types usually prefer to live in the city, close to work, and since they are super-busy will need/utilize the concierge and full-service amenities. OKC actually needs more of this.
    Oklahoma City, the RENAISSANCE CITY!

  5. #30
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    Default Re: The Elliott

    I believe to an extent these are also targeting empty nesters in the Heritage/Mesta/Crown Heights/Edgmere areas who want lock and leave, no maint. living and they are coming out of large houses and moving that money into this. So it's not all based on how big a mortgage can they afford.

  6. #31

    Default Re: The Elliott

    Quote Originally Posted by chuck5815 View Post
    I think you’d be really surprised at the large number of Young Money, Cash Money Engineers working for outfits like Devon and CLR, making well over $200K per year JUST in base compensation. Most of them also end up receiving a decent amount of equity in their respective companies.

    There’s Money in the Ground, as they say.
    Don't know of any young engineers making that kind of money, but they are definitely able to afford this type of housing living as a DINK.

  7. #32

    Default Re: The Elliott

    Quote Originally Posted by okiepoke View Post
    don't know of any young engineers making that kind of money, but they are definitely able to afford this type of housing living as a dink.
    dink?

  8. #33

    Default Re: The Elliott

    Quote Originally Posted by Nick View Post
    dink?
    Dual Income, No Kids

  9. #34

    Default Re: The Elliott

    I guess that makes me a SINK.

  10. #35

    Default Re: The Elliott

    Quote Originally Posted by OkiePoke View Post
    Don't know of any young engineers making that kind of money, but they are definitely able to afford this type of housing living as a DINK.
    $200k is pushing it, but there a plenty of engineers under 35 making easily over $150k.

  11. #36

    Default Re: The Elliott

    There are scores of very expensive homes selling in SoSA, Heritage Hills and in and around Nichols Hills, not to mention the outlying areas.

    There are plenty of buyers who can afford these homes, it's all about offering something that the market wants. And on that subject, we will see.

  12. #37

    Default Re: The Elliott

    Quote Originally Posted by sooner88 View Post
    $200k is pushing it, but there a plenty of engineers under 35 making easily over $150k.
    I'm not doubting that at all. I was just commenting $200k was high.

  13. #38

    Default Re: The Elliott

    I don't have any doubt that we have enough people with money to fill up this particular building. I'm more curious about how many more buildings of this type can we support.

    The article says "up to 41 homes", apparently with that number representing if it were divided into units as small as possible. 41 buyers isn't really that many at all. If this isn't just a speculative, vapor development (like that moon building Rand proposed), it will probably fill up pretty fast. But could we fill up half a dozen buildings of this type? Ten? Twenty? And will the success of developments like this make it more likely that we get a high rise residential tower? Or if we do get a host of these mid-rise developments, do they cannibalize the same sales that would fill up a 30 story tower?

  14. #39

    Default Re: The Elliott

    It's very likely that units would be combined. The building is configured for space between 1,300 and 1,600 SF with 4 on each floor. But they can easily be combined in the pre-sales process.

    I suspect if this goes forward the total # of units will be less than 30.

  15. #40

    Default Re: The Elliott

    Financing will be the biggest issue on this.

  16. #41

    Default Re: The Elliott

    Quote Originally Posted by sooner88 View Post
    Financing will be the biggest issue on this.
    True, but rich people usually don't need to finance 80% of a home purchase.

  17. #42

    Default Re: The Elliott

    Quote Originally Posted by Pete View Post
    True, but rich people usually don't need to finance 80% of a home purchase.
    Speaking more about the construction financing.

  18. #43

    Default Re: The Elliott

    Quote Originally Posted by sooner88 View Post
    Speaking more about the construction financing.
    It's more or less the same thing with residential. They won't approve construction loans until they have x amount of pre-sales, and you can't have pre-sales unless the buyers qualify.

  19. #44

    Default Re: The Elliott





  20. #45

    Default Re: The Elliott

    Well dang...it's smaller than I imagined

  21. #46

    Default Re: The Elliott

    Lol. What are we looking at here?
    The truth is never embarrassed by honest inquiry.

  22. Default Re: The Elliott

    Okc presented with something really cool in renderings, but as usual we get a watered down, half ass version. haha

  23. #48

    Default Re: The Elliott

    Quote Originally Posted by Pete View Post
    It's more or less the same thing with residential. They won't approve construction loans until they have x amount of pre-sales, and you can't have pre-sales unless the buyers qualify.
    Right, but it also depends on the strength of the developers / guarantors. We're working on a few deals like this right now and while pre-sales are a factor, there's a few other factors that come in... especially when it's a group, albeit qualified, that's doing their first large project.

  24. #49
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    Default Re: The Elliott

    I think there is some strength behind this project.

  25. #50

    Default Re: The Elliott

    Quote Originally Posted by Dustin View Post
    Lol. What are we looking at here?
    Info/presale office in a shipping container.

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