House+Garage Apartment Buy and Hold in Historic Oklahoma City

[Alyssa Dyer]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Oklahoma City.

Purchase price: $124,900
Cash invested: $1,874

This was our very first rental. We bought it with an FHA loan, lived in it, and then held it after we moved out.

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

Honestly, at the time it was about all I could afford that I was willing to live in.

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

Found it on the MLS. It went into multiple offers. Probably paid too much, haha.

How did you finance this deal?

FHA loan with downpayment assistance

How did you add value to the deal?

Just paint and landscaping

What was the outcome?

It's cashflowed for 5 years for us! Couple maintenance things have popped up, but overall it's been great.