Have 1031 funds - looking to expand multi-family in SW Missouri - not major cities

[Karl Holmlund]

Hello BP world!

I got into multi-family back in 2018 because of BiggerPockets, so figured I would come back to the well for some help!

I need help finding a replacement property for a 1031 exchange in smaller towns in Southwest Missouri, preferably within a 3-4 hour radius of Warsaw, MO. I am looking for B minus or C class property.

I have a great team in southwest Missouri and want to expand there, or even just across state lines into Northwest Arkansas or eastern Oklahoma. I have the best experience in the classic BRRRR strategy particularly with older multi-family that has not been taken care of or managed well. I am not afraid of the property that needs a lot of work, in fact, that is what I am looking for.

I want to be able to invest a good amount of money into the rehab and then manage it well for a strong cash flow. I am more interested in creating the value than I am on breaking even for 5 years and banking on appreciation of a market.

To summarize:

- Multi-family within the $1.5M-$3.5M purchase price. So probably 30-70 units
- I want something that needs a good amount of work. I am not interested in turnkey properties. I will fix it and provide my own property management and thereby increase the NOI
- B minus to C class property

Some markets I am interested in

• Sedalia, MO
• Warrensburg, MO
• Joplin, MO
• Warsaw, MO
• Camdenton, MO

And other towns surrounding there!

I realize what I'm asking for is probably the same thing that everyone asks for, but I'm looking for anyone who may have leads or wants to help me!

Thank you!

Karl