SFR Buy & Hold Midwest City, OK

[Lara White]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $91,900
Cash invested: $22,975

Small, turnkey house just 1/2 mile north of the main gate for Tinker Air Force Base. Bought from an investor that is slowly selling off his inventory. "As-is" no repairs negotiated; still completed an inspection but the owner really kept up his property, so there is very little to be done. We are remodeling the bathroom because it had laminate that was old for flooring, so we will be replacing that with tile and making a few upgrades but nothing else. I hope to buy 2-3 more in this same area this year!

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

I love the area around the air force base, and long term buy and hold with little reno needed is what I prefer. I don't really have time to BRRR right now, and house hacking isn't right for us right now either!

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

I am a local Realtor and knew the owner of this property (a retiring investor selling off a few properties a year). He told me his price; I paid it!

How did you finance this deal?

Local lender that I work with a lot - got a great rate and he is amazing to work with. PM me if you need a good local lender!

How did you add value to the deal?

We are going to redo the bathroom, but it really didn't need anything else done at the moment.