Remodeled Duplex in Oklahoma City
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Oklahoma City.
Purchase price: $84,000
Cash invested: $12,000
This duplex is in my favorite part of town, was already fully remodeled and has really great tenants.
What made you interested in investing in this type of deal?
This duplex is in my favorite part of town, was already fully remodeled and has really great tenants.
How did you find this deal and how did you negotiate it?
This deal came from a wholesaler I know. I honestly didn't negotiate the price. Given the state of the market, the quality of the rehab, and the great tenants the price was fair.
How did you finance this deal?
I got a commercial loan. The equity position wasn't as strong as I normally like but given the current market I felt comfortable with the deal.
How did you add value to the deal?
I didn't! It was remodeled when I bought it and priced in a way that provided a bit of equity.
What was the outcome?
It's been a great rental. I found out this week I will have to replace the main sewer line but beyond that I've been really happy with the rental so far.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Shawn with Speedy House Buyers (I think??) is always so great to work with.
