Wholesale Deal in the Owen Park Neighborhood of Tulsa, OK!

[Mitch Messer]

Investment Info:

Single-family residence wholesale investment in Tulsa.

Purchase price: $64,000
Sale price: $70,000

Contributors:
Souleymane Hanne

Two-bedroom BRICK ranch in the HOT Owen Park neighborhood of Tulsa, Oklahoma. Property sits on raised 0.16ac corner lot with fenced rear yard offering off-street parking. 884sf. Built in 1925.

Located just 6 minutes from Downtown Tulsa, 11 minutes to the University of Tulsa, and only 15 minutes from Tulsa International Airport.

Plenty of possibilities here! Works as a light fix-and-flip and also would be PERFECT as a long-term or short-term rental!

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

Since I'm new to the Tulsa real estate market, wholesaling is how I learn the area and the operators, all while being PAID to do so!

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

My partner @Souleymane Hanne found this deal remotely from Georgia using the #TiredLandlord acquisition strategy. He never once saw the house or met the seller.

How did you finance this deal?

No financing was necessary: We double-closed the transaction.

How did you add value to the deal?

We added significant value by facilitating/encouraging the move-out of the existing tenant and then by delivering a swift and hassle-free closing to the seller!

What was the outcome?

The seller was so delighted that he immediately sold us another of his properties! Our investor was delighted to find an off-market property that met his investment needs.

Lessons learned? Challenges?

We learned that the Owen Park area of Tulsa is HOT! We're looking for more properties there right now!

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

We enjoyed working with Lauren Richardson of Apex Title in Tulsa!