Norman, Oklahoma BRRRR

[Meredith Burt]

Investment Info:

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

Purchase price: $60,400
Cash invested: $60,000

Former drug house turned cute duplex in the heart of Norman, OK.

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

This was our first multifamily. We jumped right in!

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

Found on the MLS.

What was the outcome?

We renovated and rented out one side, then did the other.

Lessons learned? Challenges?

We drastically underestimated the repair budget, but were lucky enough to have it appraise for $20k more than expected, whew.