Great Little Rental in OKC
Investment Info:
Single-family residence buy & hold investment in Oklahoma City.
Purchase price: $36,000
Cash invested: $8,900
This property was a single family home that was in decent shape, just needed a facelift. The equity wasn't super strong so I put more down than I normally like to but I have been happy with the deal!
What made you interested in investing in this type of deal?
I was looking for houses that were under $50k and weren't high risk, this matched that.
How did you find this deal and how did you negotiate it?
This lead came in from direct mail. The seller was eager to dump it quick so negotiating was easy enough.
How did you finance this deal?
We did a commercial loan on this one.
How did you add value to the deal?
This one needed paint, hardware, countertops, backsplash and some window units but was otherwise in great condition.
What was the outcome?
This property has performed well. We have leased it in less than a week when it was vacant and the rehab went mostly as planned.
