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Updated almost 2 years ago on . Most recent reply
Buy and Hold - Broken Arrow, OK
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $128,500
Cash invested: $47,150
I started my long distance real estate investing journey in OK! I purchased a single family home in Broken Arrow in Feb 2023. I put about $15000 into the rehab which included floors, paint, exterior paint, HVAC, countertops, etc. I am using an All in One Loan with 25% down to help keep monthly costs low, and now I am hoping to refinance with an AVR of at least #165,000 later this year.
How did you finance this deal?
All in One Loan - 25% down, 7.7% interest rate
How did you add value to the deal?
New floors, paint, exterior paint, HVAC, countertops, fixtures, etc
What was the outcome?
Currently renting on a year lease at $1250 a month. Tenant pays all utilities.
Lessons learned? Challenges?
It is better to have a rental rented out, than getting top dollar with vacancies.
Most Popular Reply
#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
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#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
Congratulations on this investment @Katie Phillips !
- Dmitriy Fomichenko
- (949) 228-9393
