from newbie to 5 SFR properties in 1 year

[Jimmy Martz]

Hello BP, 

After listening to podcast 167 with Kevin Wood, I am posting of my successes for my first year of investing.  I've been reluctant to post because my family has raised me right which means you don't talk about money and you definitely don't brag about it...  Some of you will relate, I'm sure.  

Deal 1   3/1.5/2, 1152 sq ft. built in 1982 in Mustang OK school district.  pd 61k, put 26k into rehab/closing costs/etc.  All in at 87k.  Appraised at 115k.  did a cash-out refinance for 92k.  Currently rented for $1150/month

Deal 2   3/2/2, 2250 Sq ft, built in 1983 in NW OKC.  pd 85k , put 30k into rebab, etc.  All in at 115k.  Appraised for 160k.  did a cash out refinance for 120k.  Currently rented for 1,300/month.  

Deal 3 3/1.5/2 1087 Sq ft, built in 1972 in Yukon Oklahoma, pd 78k, put 11k into rehab, etc. All in at 89k. Appraised for 100k :-( My CMA would have had it around 110k but this happens sometimes. I did overpay for this one; got a little over-confident... It rents for 1,000/month

Deal 4   4/1.5/2 1700 Sq. ft, built in 1966 in Yukon Ok, pd 82,500.  Put $0 into this one because it was move in ready- moved my family into it.  It appraised for 124k in the same condition that I bought it.  We financed it for the purchase price and put it on a fixed 30 year note for 700/month mortgage for us(escrowed insurance & taxes included).   I put a few grand into our previous house and made it a rental for $925 a month(below market but we were marketing it in December so we dropped it a bit to get a good renter).  At some point, the house we moved into will be a rental as well so that will be even better as we see it through as a long play.  

Deal 5   3/1.5/2 1172 sq ft, built 1966 in Yukon OK. Pd 71,500.  Put in 19k.  All-in at 90k  & It appraised for 107k.  Not great but not awful.  We are leaving about 4k into this deal after everything is said and done.  Rented for $950/month.

With any luck, I can get at least 5 more SFR's this year. I have also been researching the in's and out's of multi-family investing and hope to get into that market as soon at the right opportunity presents itself. I am definitely open for advice if anybody thinks I might need to re-evaluate my strategies or has any wisdom to share.

Lastly, many thanks to the BP community, Josh & Brandon for this great resource!