Partial BRRRR SFR OKC

[Carter Still]

Investment Info:

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

Purchase price: $145,000
Cash invested: $9,244

One of my most successful attempts at the BRRRR strategy. House was on MLS by a wholesaler for over 40 days at a reasonable price. Got it for ~$20,000 less with a cash offer. Used hard money, rehabbed, rented, refinanced. All in cost $176K, appraised for $225K, loan amount of $169K, had to leave in $9K. Rented for $1575/mo which nets $333/mo cashflow.

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

back and forth offers - seller was out of state wholesaler, and was difficult to work with

How did you finance this deal?

private loan --> bank loan cashout refi

How did you add value to the deal?

DIY Rehab: remodeled kitchen, bath, opened up floorplan, added some appliance amenities, mostly cosmetic.

Lessons learned? Challenges?

Saving money DIY'ing is cool, but need to leverage my time more and hire out work. One step back, two steps forward I hope.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a realtor so represented myself, I use Valor bank for commercial loans.