Sand Springs Fix and Flip

Flipper/Rehabber · Edmond, OK · Member since 2024 · 4 posts · 2 votes

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $139,900
Cash invested: $1,000
Sale price: $246,000

3 Beds 2Baths SqFt 1718 Built in 1970. ARV $246K RR Cost $49,500
Fix and Flip. I have paid $1K EMD and contract signed for $139,900 purchase price.

What made you interested in investing in this type of deal?

This home can become finished out and become a wonderful place for a family. Close to Key Stone Lake and minutes from Night life in Tulsa. Quiet neighborhood!

How did you find this deal and how did you negotiate it?

Jessica Ford

How did you finance this deal?

My own money plus HML

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AJ ExnerPro Member
Lender · Springfield, MO · Member since 2023 · 661 posts · 320 votes
2y
Did you have any issues with your HML there in OK? I had a client out there that got hung up because of how OK does their title work and wondering if that was deal specific or not.
Congrats!
[email protected]417-427-2612
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Brendan Harrison
Real Estate Broker · Tulsa, OK · Member since 2020 · 157 posts · 67 votes
2y
Looks awesome! Did you snag this deal off or on market?
0 Reply
LaDonna Anderson
OP
Flipper/Rehabber · Edmond, OK · Member since 2024 · 4 posts · 2 votes
2y
Quote from @Brendan Harrison:

Looks awesome! Did you snag this deal off or on market?

Thanks Brendan yet it has not been renovated yet. Found through a realtor, so on market.
0 Reply
LaDonna Anderson
OP
Flipper/Rehabber · Edmond, OK · Member since 2024 · 4 posts · 2 votes
2y
Quote from @AJ Exner:

Did you have any issues with your HML there in OK? I had a client out there that got hung up because of how OK does their title work and wondering if that was deal specific or not.
Congrats!

Thank you AJ. I believe that must have been deal specific. I have heard of issues with other investors stating that they were told "if it's a HML its NOT Cash". Not sure where they live. We have to be problem solvers in this industry so we have to figure out another way to Getter done, right?
1 Reply
AJ ExnerPro Member
Lender · Springfield, MO · Member since 2023 · 661 posts · 320 votes
2y
Quote from @LaDonna Anderson:

Quote from @AJ Exner:

Did you have any issues with your HML there in OK? I had a client out there that got hung up because of how OK does their title work and wondering if that was deal specific or not.
Congrats!

Thank you AJ. I believe that must have been deal specific. I have heard of issues with other investors stating that they were told "if it's a HML its NOT Cash". Not sure where they live. We have to be problem solvers in this industry so we have to figure out another way to Getter done, right?

Absolutely, and that was what we had to do there! Had to work with the title company on some stuff from a "few" years before our client had purchased it.
Are you planning on refinancing or selling once rehab is completed?
[email protected]417-427-2612
0 Reply
LaDonna Anderson
OP
Flipper/Rehabber · Edmond, OK · Member since 2024 · 4 posts · 2 votes
2y
Nice job. Sell it
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