All Forum Posts by: Daryn Rody

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $168,000
Cash invested: $3,000

This home my wife purchased after we were expecting our 2nd child

How did you finance this deal?

only in wife's name

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $44,500
Cash invested: $16,000

This was my first home... foreclosure.. lived in it about 2 years then have been renting ever since

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

purchase price was a bargain!

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

MLS - First time homebuyer, paid over asking price

How did you add value to the deal?

New HVAC, New roof, new doors, updated kitchen & Bathroom, new light fixtures, added deck, updated kitchen with backsplash, granite, sink, appliances, tile and paint

What was the outcome?

great!

All, this is awesome. thanks so much for your response.  this property is in Edmond, OK - a suburban of Oklahoma City.  The insurance is $957/year, the property taxes are $1223/year.

I am doing 20% down on a 3 year fixed rate, 20 year Amortization at approx 6.5%

and yes, Jaysen, it's a 2 car garage on a cul-de-sac

I am also a realtor, this is my 8th property...  The home is one of the smaller and lower priced ones in the area, most of them range from $120-150k.  

The $3-5k rehab is for the hot water tank ($800), fence ($2,000) and yard/small cosmetics ~$1000-1500.... 

This is my first post... I’m buying a property close to my office. It’s 3/2/2 at 1288 sq feet. Partially updated with new carpet and paint throughout... needs $3-5k in work, including hot water tank, fence, and some fans replaced, he’d sprucing. Home has new HVAC within 2 years, recent foundation fixed. It’s on a cul de sac. With my work I feel like it’s worth $135k, I’m buying for $113k. Plan to buy and hold for at least a couple years and rent at $1150/month. Is this worth it to you?