All Forum Posts by: Nathan Hughes

We probably have. I'm from Nowata originally but I grew up in claremore. I'm related to half of Nowata county it seems like. Lol  I'm on 417 east of town. We do need to set up a meeting for all the local investors. Do you know what day and time the ocean China meeting is. 

 Lunch during the week is no good for me. I'm locked in a cage aka Phillips research center from 7-4 weekdays. I would like to meet up sometime for sure. 

I'm surprised BP has others from Bartlesville! I'm new to BP and you could say new to making an income from real estate. I'm a decent handyman with lots of tools and fairly skilled with electronic dodads. I have rewired 2 houses and working on a third and painted many inside and out along with countless carpentry fixes. Ive only bought property and haven't every sold any. I have one SFH rental and another extra long term 11 years in the making BRRR/FLIP (our 1st house) that I'm almost done with. I also have a 50 acre farm east of Nowata that I will take to the grave. I work for Phillips 66 in Bville. Hit me up anytime we can talk about anything from financial independence to real estate or other investments or anything else that tickles your fancy.

 This is our forever home. I plan on building a new house though. That project probably won't start until next spring. We're still deciding on what we want to build.  

Investment Info:

Other buy & hold investment.

Purchase price: $157,000

50 acre farm. This place is old family land that was sold out and I purchased back into the family. I spent most of my childhood summers here riding go-carts and atvs. It has a double wide mobile and a 6500 sqft old paint factory on it. I had always told my wife if it ever went on the market we would buy it no matter what it took. Then in September 2014 I was in the area and drove by and it had a four sale sign in the yard. I immediately told my wife to pack her bags we were moving. She responded oh is your Grandpa's old place for sale. Lol It will always be in our family as long as I'm alive. Hopefully my boys will have the same fond memories of this place too.

How did you finance this deal?

Used another property as collateral.

 Well to top it off I'm a procrastinator. I purchased my farm in 2014 and we moved into it.  I basically left this property alone for the next 4 years. I kept the yard up but that's basically it. Until last year I was deep diving into our budget looking into easy ways I could save more money and I don't know why it took me 4 years to figure out that paying a mortgage on two properties was the biggest waist in our budget. So now I get off work, work on the house and stay at the house during the week. I go home on the weekends and catch up on the farm chores.  I  plan on the house going up for sale by the end of may.  Fingers crossed 

 Well it has a story behind it. Lol It was a foreclosure. I rent it out to my in-laws and one of them is disabled. They had fallen into some rough times and needed help. It was either they move in with us or I find them a place they could afford. I talked to my relator and told her to find something I could pay cash for and needed some TLC. The next day she called me. We looked at it and made a cash offer against 10 or more offers. We gave the bank what they wanted for it and the rest of the offers we're all low ballers. It was on the market for 28 hours. It took 52 days to close on it. (The longest closure I've ever had and I had cash in hand) turns out the banks relator was the one dragging it out because she wasn't making much off the house. I rent it for 400 plus utilities.  Until today the only thing Ive done to it was replace the electrcal in the house before they could move in. Today I had my brother come over and we replaced the main water line to the house. I have a few other plumbing issues to take care of this summer also. Over all  it hasn't been a bad house. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $53,000
Cash invested: $10,000

This was our first home purchase and we are in the process of fixing it up to flip.

Lessons learned? Challenges?

Don't remodel a home while your living in it. I lost interest in it years ago. Now I just want it done and gone. Lol

Investment Info:

Single-family residence buy & hold investment in Dewey.

Purchase price: $17,500
Cash invested: $5,000

Purchased out of necessity. It was either in-laws move in with us or I buy a house and rent it to them for cheap.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Brianna Gore local agent