All Forum Posts by: Graham Bozarth

@Jaycee Greene I probably could. I actually have 3 properties I need to look into doing that with. All have about 120-140k in Equity, which would help get into a larger deal. However, it is hard to do that with all of them being 4.5% or lower on the interest rates. 

I've done a few. I have rentals in Kansas, North Carolina, and Oklahoma. Also, I am currently working on a Flip in Dewey, Oklahoma. 

@Jaycee Greene The initial financing was a commercial loan through a bank at 4.5% fixed for five years. Although the property is classified as being in a “rural” area, it is located within the city limits of Grove, OK. The appraisal came in slightly lower than expected at $220K, partly because the appraiser used two flipped homes as comps. A comparable property on the same street recently sold for $260K.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $142,000
Cash invested: $35,000

Bought in April 2021 using profits from selling our first investment, 1322 Parkside Dr. This side-by-side duplex in Grove, OK offers two 3-bed, 2-bath units with recent updates, included utilities, and strong rental demand near Grand Lake. Minimal repairs allowed for quick leasing and steady cash flow. A key step in growing our portfolio by reinvesting profits into low-maintenance, multi-income properties.

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

The rents had not been raised in four to five years and were $750 per side, totaling $1,500 per month—exactly the income goal another investor once told me to aim for with a single property. With a purchase price of $143,000, the numbers made sense, offering strong cash flow from day one with room for future increases.

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

Two other investors told me about a group of seven duplexes for sale in Grove. One purchased four, the other bought two, and I bought one. Their guidance and willingness to share the opportunity were key, as I likely wouldn’t have known how to approach a purchase like this at the time. I moved quickly to secure it rather than negotiate heavily.

How did you finance this deal?

Commercial Loan, fixed for 5 Years over 20.

How did you add value to the deal?

The previous owner did not maintain the property on a routine basis, which led to recurring minor issues. After taking ownership, we completed necessary repairs, implemented a regular repair and maintenance program, and the problems quickly went away. We also improved curb appeal, ensured all appliances and systems were in good working order, and replaced the roof. With the property stabilized and well-maintained, we were able to raise rents to reflect market rates.

What was the outcome?

With the property stabilized, we raised rents to about $1,200 per side, significantly increasing monthly cash flow and boosting overall property value.

Lessons learned? Challenges?

Learned the importance of strict tenant screening after taking a chance on a red-flag tenant who broke all the windows. Consistent upkeep protects value and cash flow. Main challenge now is deciding whether to refinance or sell when the loan comes due next April, as I do not have the capital to pay it off.

Investment Info:

Single-family residence fix & flip investment in Junction City.

Purchase price: $67,672
Cash invested: $25,000
Sale price: $144,000

Bought in 2018 near base using a VA loan to start our investing journey while avoiding capital gains tax. Lived in the home for three years while completing major upgrades including wood-look tile throughout, a new deck, water heater, bathroom and kitchen improvements, updated light fixtures, and fresh paint. Rented it for one year before selling at a profit, gaining equity, rental income, and hands-on renovation experience.

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

We were interested in this deal because it allowed us to use our VA loan benefits to purchase a home with no down payment while starting our real estate investing journey. The location was near base in a quiet neighborhood with strong potential for resale or rental. The home needed updates, giving us the chance to build equity through renovations while living there. Our plan was to stay at least two years, complete improvements, and sell without paying capital gains tax.

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

Local real estate agent.

How did you finance this deal?

VA Loan.

How did you add value to the deal?

We replaced all floors with wood-look tile, built a new deck, installed a new water heater, upgraded the bathroom and kitchen, updated light fixtures, and applied fresh paint inside and out. These improvements modernized the home, increased appeal to renters and buyers, and boosted market value.

What was the outcome?

We lived in the home for three years, then rented it for one year before selling at a profit. Meeting the two-out-of-five-year residency requirement allowed us to take advantage of the capital gains tax exclusion. This deal built equity, provided rental income, and gave us hands-on renovation experience.

Lessons learned? Challenges?

Lessons Learned - Buying with a clear strategy, using available benefits to lower upfront costs, and focusing on high-impact upgrades can significantly boost value.

Challenges - Balancing renovations with daily life while working full-time and managing our first rental came with a learning curve, but it built our confidence for future deals.

Investment Info:

Single-family residence buy & hold investment in Spring Lake.

Purchase price: $76,000
Cash invested: $76,000

Bought in 2016 as our first home near base using a VA loan with plans to rent later. Added value with a new deck, fresh paint, flower beds, and minor repairs. Rented in 2018 for $950, now nearly $1,400. Learned the importance of a good property manager for long-distance ownership and how targeted upgrades boost rental appeal. Steady cash-flowing asset with consistent demand from the nearby military base.

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

We bought 1110 Vass Road in 2016 as our first home using a VA loan, choosing it for its proximity to base and strong future rental potential. From the start, we saw it as both a comfortable personal residence and a long-term investment we could rent out when we moved.

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

With a local agent and help from other investors.

How did you finance this deal?

VA Loan.

How did you add value to the deal?

We built a new deck, refreshed exterior paint, and added flower beds to improve curb appeal. Along with minor repairs, these updates made the home more attractive to renters and helped maintain strong occupancy.

What was the outcome?

When we moved in 2018, the home rented for $950 per month. Over time, demand and improvements allowed the rent to increase to nearly $1,400. It became a steady cash-flowing property in our portfolio, providing income and equity growth.

Lessons learned? Challenges?

Lessons Learned - Targeted upgrades and buying near a military base create strong rental demand. The right property manager is key for smooth long-distance operations.

Challenges - Finding a reliable property manager took time, but once in place, it ensured tenant satisfaction and reduced the stress of managing from out of state.

Investment Info:

Single-family residence fix & flip investment in Junction City.

Purchase price: $67,672
Cash invested: $25,000
Sale price: $144,000

Bought in 2018 near base using VA loan to start investing and avoid capital gains. Lived there 3 years while renovating with wood-look tile, new deck, water heater, bathroom and kitchen upgrades, light fixtures, and paint. Rented for 1 year, then sold at a profit. Gained equity, rental income, and renovation experience while learning to balance upgrades, work, and property management.

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

We were interested in this deal because it allowed us to use our VA loan benefits to purchase a home with no down payment while starting our real estate investing journey. The location was near base in a quiet neighborhood with strong potential for resale or rental. The home needed updates, giving us the chance to build equity through renovations while living there. Our plan was to stay at least two years, complete improvements, and sell without paying capital gains tax.

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

Local agent in Junction City.

How did you finance this deal?

VA Loan and Capital saved.

How did you add value to the deal?

We replaced all floors with wood-look tile, built a new deck, installed a new water heater, upgraded the bathroom and kitchen, updated light fixtures, and applied fresh paint inside and out. These improvements modernized the home, increased appeal to renters and buyers, and boosted market value.

What was the outcome?

We lived in the home for three years, then rented it for one year before selling at a profit. Meeting the two-out-of-five-year residency requirement allowed us to take advantage of the capital gains tax exclusion. This deal built equity, provided rental income, and gave us hands-on renovation experience.

Lessons learned? Challenges?

Lessons Learned - Buying with a clear strategy, using available benefits to lower upfront costs, and focusing on high-impact upgrades can significantly boost value.

Challenges - Balancing renovations with daily life while working full-time and managing our first rental came with a learning curve, but it built our confidence for future deals.

Investment Info:

Single-family residence fix & flip investment in Junction City.

Purchase price: $67,672
Cash invested: $25,000
Sale price: $144,000

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

We were interested in this deal because it allowed us to use our VA loan benefits to purchase a home with no down payment while starting our real estate investing journey. The location was near base in a quiet neighborhood with strong potential for resale or rental. The home needed updates, giving us the chance to build equity through renovations while living there. Our plan was to stay at least two years, complete improvements, and sell without paying capital gains tax.

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

Local agent in Junction City.

How did you finance this deal?

VA Loan and Capital saved.

How did you add value to the deal?

We replaced all floors with wood-look tile, built a new deck, installed a new water heater, upgraded the bathroom and kitchen, updated light fixtures, and applied fresh paint inside and out. These improvements modernized the home, increased appeal to renters and buyers, and boosted market value.

What was the outcome?

We lived in the home for three years, then rented it for one year before selling at a profit. Meeting the two-out-of-five-year residency requirement allowed us to take advantage of the capital gains tax exclusion. This deal built equity, provided rental income, and gave us hands-on renovation experience.

Lessons learned? Challenges?

Lessons Learned - Buying with a clear strategy, using available benefits to lower upfront costs, and focusing on high-impact upgrades can significantly boost value.

Challenges - Balancing renovations with daily life while working full-time and managing our first rental came with a learning curve, but it built our confidence for future deals.

Investment Info:

Single-family residence buy & hold investment in Junction City.

Purchase price: $58,000
Cash invested: $5,000

Purchased in Feb 2020 as our first true investment property, a foreclosure near a military base with strong rental demand. Needed minimal repairs including small flooring replacement, trash removal, and curb appeal upgrades. Faced our first non-paying tenant during COVID with eviction bans, which taught us the importance of reserves and understanding the eviction process. Now a steady cash-flowing asset in our portfolio.

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

We were interested in this deal because it was a foreclosure located near a military base, which meant consistent tenant demand and low vacancy risk. It was our first purchase as a pure investment property without the need to live in it, allowing us to focus entirely on cash flow. The home was in solid condition and required only minimal repairs, including replacing a small section of flooring, removing trash, and improving curb appeal.

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

Looking at foreclosures and driving around the city.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

We added value to this deal by completing light but impactful improvements that made the property more appealing to tenants. This included replacing a small section of damaged flooring, removing trash and debris from the property, and enhancing curb appeal through basic landscaping and cleanup. These minor updates allowed us to quickly attract quality tenants while keeping renovation costs low, which helped maximize our cash flow from the start.

What was the outcome?

The outcome was a smooth and profitable first experience with a pure investment property. After completing minor repairs and cleanup, we were able to place tenants quickly thanks to the strong demand near the military base. The property began generating steady cash flow almost immediately, with minimal ongoing maintenance needs.

Lessons learned? Challenges?

Lessons Learned - Having a reserve fund is essential. This property was our first experience with a non-paying tenant during COVID, and state eviction bans made the situation more difficult. We learned how the eviction process works and the importance of being financially prepared.

Challenges - COVID restrictions prevented us from evicting a non-paying tenant, creating financial strain and delaying cash flow.

Investment Info:

Single-family residence buy & hold investment in Junction City.

Purchase price: $58,000
Cash invested: $5,000

In February 2020, we purchased 1029 W Ash Street in Junction City, Kansas, as our first true investment property—one we did not have to live in. This was a key milestone in our real estate journey, marking the shift from owner-occupied purchases to acquiring pure income-producing assets.

The home was in a stable neighborhood with strong rental demand and required minimal work to get rent-ready. This allowed us to place tenants quickly and begin generating cash flow almost immediately. We chose it for its affordability, solid condition, and proximity to Fort Riley, which helps ensure consistent tenant interest.

1029 W Ash Street became a smooth, low-maintenance addition to our portfolio and reinforced the value of targeting well-located properties that require little upfront renovation while delivering steady, reliable income.

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

We were interested in this deal because it was a foreclosure located near a military base, which meant consistent tenant demand and low vacancy risk. It was our first purchase as a pure investment property without the need to live in it, allowing us to focus entirely on cash flow. The home was in solid condition and required only minimal repairs, including replacing a small section of flooring, removing trash, and improving curb appeal.

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

Looking at foreclosures and driving around the city.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

We added value to this deal by completing light but impactful improvements that made the property more appealing to tenants. This included replacing a small section of damaged flooring, removing trash and debris from the property, and enhancing curb appeal through basic landscaping and cleanup. These minor updates allowed us to quickly attract quality tenants while keeping renovation costs low, which helped maximize our cash flow from the start.

What was the outcome?

The outcome was a smooth and profitable first experience with a pure investment property. After completing minor repairs and cleanup, we were able to place tenants quickly thanks to the strong demand near the military base. The property began generating steady cash flow almost immediately, with minimal ongoing maintenance needs.

Lessons learned? Challenges?

Lessons Learned - Having a reserve fund is essential. This property was our first experience with a non-paying tenant during COVID, and state eviction bans made the situation more difficult. We learned how the eviction process works and the importance of being financially prepared.

Challenges - COVID restrictions prevented us from evicting a non-paying tenant, creating financial strain and delaying cash flow.