Owasso Oklahoma a simple base hit

[Donnie Martens]

Investment Info:

Single-family residence buy & hold investment in Owasso.

Purchase price: $140,000

4/2/2 SFR in a cute neighborhood. Purchased as our primary residence in 2016.
We moved in December 2018 to NC. Had it rented in January 2019.

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

This was our primary residence and we chose to keep it as a buy and hold due to the desirability of the neighborhood and the school system.

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

This was a standard MLS transaction with standard primary residence negotiation.

How did you finance this deal?

This was purchased with a VA loan.

How did you add value to the deal?

We cleaned up the property with updated paint, appliances, fixtures, flooring, and landscaping.

What was the outcome?

We've kept it and it's been rented since we moved out in Dec. 2018. Our vetting of tentants has been a huge success for us.

Lessons learned? Challenges?

Not a homerun deal but a nice base hit. We learned a lot during this transition of becoming landlords. No challenges so far. We recognize that we've been blessed.