Moore, Oklahoma BRRRR

[Meredith Burt]

Investment Info:

Single-family residence buy & hold investment in Moore.

Purchase price: $83,100
Cash invested: $85,000

We bought this trashed foreclosed home and fully renovated it. It's now rented to great residents and appraised for $210,000.

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

We're BRRRR investors trying to expand our rental portfolio in the Moore and Norman areas.

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

We found it on the MLS, and made a fast, careful, above list price offer to beat out several other investors.

What was the outcome?

It appraised for higher than we expected! We refinanced soon after renting it.

Lessons learned? Challenges?

This was our first time hiring out most of the work out, so we learned A LOT about working with contractors.