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Updated over 4 years ago on . Most recent reply
![Melvin Haynes's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1870996/1621516287-avatar-melvinh27.jpg?twic=v1/output=image/crop=552x552@0x144/cover=128x128&v=2)
Second investment property
Investment Info:
Single-family residence buy & hold investment in Oklahoma City.
Purchase price: $30,000
Cash invested: $500
2bd 1bath small and cozy
What made you interested in investing in this type of deal?
The property came with a tenant on a lease
How did you find this deal and how did you negotiate it?
Found the deal on Zillow. Took about 4 months to negotiate the deal because it was tied up in a multi-property package deal. The deal actually fell through and the seller reached out to my agent. I was able to negotiate 5,000 off of the original asking price.
How did you finance this deal?
I came with a cash offer
How did you add value to the deal?
I can't really say i added value to the deal. I was however glad i was able to close it though.
What was the outcome?
Closed the deal for 30,000 found out at closing that it came with an empty lot next to the property. I was so excited!!
Lessons learned? Challenges?
I learned to be patient and stay ready while searching the market. Switching the section 8 payment was a lil tricky at first but i got it done and passed inspection.
Most Popular Reply
![Forrest Faulconer's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1747054/1703881185-avatar-forrestf6.jpg?twic=v1/output=image/crop=512x512@31x0/cover=128x128&v=2)
Nice man! That's crazy you found out about the empty lot after the fact, did you find out about that after the surveying process? Glad it worked out.
Forrest