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All Forum Posts by: Kase Knochenhauer

Kase Knochenhauer has started 12 posts and replied 135 times.

Post: Getting back below 10 conventional loans to buy a residence

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Will Pritchett - my recommendation is to meet with a local credit union that offers both conventional & commercial loan options.

There are several solutions for you:

The route I'd recommend taking first is chatting with the commercial loan officer and discussing a portfolio loan on your rentals to drop your number of conventional mortgages to the appropriate value. (Your rate should be around 4% for a 5/20 ARM if you are qualified and properties cash flow nicely).

Alternatively, if your rates are better than that or you don't want to lose a 30 yr fixed note, I'd just get a commercial mortgage on the new home you are purchasing. Commercial lenders in our area don't care the asset class - and even like it when we occupy the property as an office (or home). Finally, you could sell one or two rentals that have lots of equity and just pay cash for your new home. Few people complain about a home with no mortgage. :)

Post: Structuring fair partnerships starting out??

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Kalen Y. - offer a short-term strategy for them to fund your long-term hold.

You can offer 8-11% on their money for a medium term loan (maybe 12-36 months) so you can perform a cash-out refinance through conventional or commercial means after the property has been renovated.

Post: Why are the photos missing from some sold properties

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Dave H.- here are the reasons I can think of:

1. The property sold off market; since Zillow/RDC pulled the data from public sources they won't have photos
2. The property was deeded intra-family and wasn't advertised online w/ photos
3. The listing agent or seller removed the photos prior to closing the home on Zillow/RDC for privacy reasons
4. Zillow shows the property was sold - even if it wasn't (this happens more often that you'd think)

I would ignore off market sales as your ARV since they won't properly reflect market value. Stick with properties that were properly marketed on the MLS.

Post: When is the best time to buy a house? Market Wise?

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Elijah Bryant, the best time to plant a tree is yesterday. 

Just make sure it's a fruitful tree and not the first one you find.

Post: Seeking Muskegon Michigan Pro

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Phillip Davis - @Charles Kao is your man if you are seeking properties on or off market.

We have a few that are off market that we'd consider selling as well. However, Charlie should have a larger list than us since we don't wholesale often.

Post: Using a VA for bookkeeping, is it safe?

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Brad E. - If you have a contract VA through Fiverr or elsewhere I wouldn't recommend giving them access to banking records or login credentials.

However, we have 2 long-term employed VA that have access to all my files and financials and I've got no worry. But I know them, trust them, and they are not temporary employees.

Post: Seeking Private Money for Quick Flip in West Michigan

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Ryan Dosenberry - I can't fund it as a hard money lender - but I might consider purchasing it with you for a split of proceeds. 

If you are interested in partnering on this deal shoot me a PM

Post: Wholesaling in Grand Rapids?

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Simeon Williams - there are hundreds of "wholesalers" in Grand Rapids, of which, I'd bet 95% have never closed on one of their deals.

However, I know of at least 3 that will clear 50+ transactions/year. 

You can flip/wholesale/wholetail in any market - it just takes work to create the deal with either marketing dollars or shoe leather. You can't wait for a great deal you have to make it.

We BRRRR or flip 4-6/month between Grand Rapids, Holland, Muskegon area.

If you find something to flip or wholesale, please send it my way! :)

Post: Tax Deductions for Investment Property not yet rented

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Natalie Kolodij - thanks for the correction! I'm certainly not a tax professional. That's why I hire people like you! :)

Post: Negotiating with the property manager?

Kase KnochenhauerPosted
  • Rental Property Investor
  • Grand Haven, MI
  • Posts 146
  • Votes 126

@Kevin OBrien - I would give them a call and tell them a bit of your story and where you want to go in real estate. If they see someone who is motivated, ready to grow quickly, easy to work, etc; they'll be much more willing to move their fees around.

You might ask, "We are in this for the long haul and want partners who will help our growth, if we decide to work with you, how can you move your fees around to enable the growth we want to achieve in the next x years?"