Bartlesville OK no money down buy and hold rental

[Jeremy Bourgeois]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $100,000

Purchased this cash flowing rental property with $0 down. My partner funded the entire purchase price, and we are about to refinance at the market value, allowing him to get all his cash back with a profit and allowing me to buy the house with no money down. It cash flows $100 a month after all expenses.

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

It is in a great area and already cash flowing, and I locked in a good discount on the deal

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

I found it cold calling and negotiated it directly with the seller

How did you finance this deal?

Partner financed the original purchase price, we refinanced using a DSCR loan with no money down from my end.

How did you add value to the deal?

Quick and easy deal for the seller, I am adding a new roof soon as well as making some other minor updates around the property.

What was the outcome?

Added a cash flowing asset in a great area to my portfolio with no money down

Lessons learned? Challenges?

Your lender can be one of the biggest assets on your team. If you find one who is smart and hard working and who knows how to structure creative deals, it will be incredibly beneficial to keep them on your team.

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

Christian Duncan (lender)

[Nathan Gesner]

Cold calling can take time, but it's well worth the effort. That's how I find my storage facility, which is my best investment ever.

Congratulations!