OKC Off Market Partial BRRRR

[Carter Still]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $139,500
Cash invested: $17,000

Purchased off market ($139,500), repaired and renovated entire house ($37,641), leased for $1350/mo, appraised for $200,000, took $160,000 loan.

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

in my neighborhood, off market, low inventory

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

got owner's contact via prop stream, called and talked to owner several times, finally met in person at house and came to a deal a week later.

How did you finance this deal?

100% private loan, 80% LTV bank loan + cash to payoff private loan

How did you add value to the deal?

cosmetic remodel of entire house + repairs to windows, floors, plumbing, Hvac, insulation, drywall

Lessons learned? Challenges?

Too much sweat equity! Hire out work to get it done faster, better, and sometimes cheaper.