Cheap SFH with Good Cashflow Numbers in Oklahoma

[Blake Billings]

Investment Info:

Single-family residence buy & hold investment in Shawnee.

Purchase price: $62,000
Cash invested: $17,000

SFH in Shawnee Oklahoma. It needed cosmetic repairs. It was on the market for a while so I made an aggresive offer that hit my numbers.

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

Found it on the MLS. Negotiated repair and closing cost in purchase price

How did you finance this deal?

Conventional Financing, 20% Down

How did you add value to the deal?

$8,000 in repairs. New floors, touch up paint, etc.

What was the outcome?

18 Month lease at $900+ a month

Lessons learned? Challenges?

This deal pushed me over the edge to get a property manager. Best decision I could make. Removed all my headache and got higher rent faster than I could have. I think this ended up saving me money in the long run.