Cute Historic Buy & Hold in Oklahoma City

[Alyssa Dyer]

Investment Info:

Single-family residence buy & hold investment in Oklahoma City.

Purchase price: $52,000
Cash invested: $7,400

This property came to us in a package with another property. It needed a light facelift and it was ready to rent.

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

I really wanted to grow my portfolio with properties in good condition that were under $50k. Those are tough to find so when they come around I jump quick.

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

This one came to us through a Realtor friend who didn't know the area and didn't want to deal with it. He remembered us talking about liking this part of town so he called and pitched it to us.

How did you finance this deal?

Commercial loan for the purchase and rehab.

How did you add value to the deal?

Lots of stuff was needed on this one! Foundation, refinishing hardwoods, kitchen gutted, bathroom gutted, paint, hardware, new tile, countertops, backsplash.

What was the outcome?

It's been a great little rental for me! The city is working to make this area nicer so the street has had sidewalks and some lighting installed. I'm excited for the potential appreciation over the next several years.