All Forum Posts by: Andrew R.

So far things are going well for my 3 properties with USREEB. They have gotten tenants readily within the first month of purchase and the initial tenant placement is included in part of the deal (IE, the buyer doesn’t have to pay a lease-up fee for the first tenant), which is a very attractive feature of this turnkey provider. 2 of my 3 properties appraised just over my price and 1 appraised right-on my purchase price.  Cash flow and communication have been very good. I have my first move-out and new tenanting coming up Jan 2017 so we’ll see how the transition goes. 

I'd welcome referrals or private message for lenders who can do loans #5-10 on properties in Kansas City, since I already have 4 investment mortgages. Low rates, low fees, and experience working w/ out of state investors please. I plan to use conventional Fannie/Freddie loans. 

Hi, seeking recommendations for a prop manager in Kansas City, MO area, experience with duplexes and triplexes. They are older units that need periodic projects, such as a new shower stall and new cabinets (So, more than simple repairs, but not a total remodel). I'm looking for a Prop Manager that's good at handling occasional medium-size projects because it's an older building with some deferred maintenance. Thanks!

I had a smooth transaction with Worth Clark realty, agent Joshua Pohl. They are also a prop mgmt company so the transition from buying, tenanting, and getting it under PM was easy and seamless. PM fees are a touch high but service has been good so far.   

Hi, I see 2 triplexes for sale. They are adjacent but on 2 individuals lots per County assessor. Both buildings are for sale by the same owner.  Each building has 3 apartments. So 6 units total, but divided across 2 parcels.  I'm seeking tips or referrals on how to finance this situation, as I'd like to buy both buildings as a package.  Conventional mortgage? Commercial loan? Not sure what applies. Creative solutions welcome.  Low down, 30yr preferred.  PM me or reply to thread, thank you kindly. 

Hi, I found a duplex on MLS that seems promising. Digging into the tax assessor records, I notice that the real estate agent on the duplex is also the property owner. Is this a red flag? Anything else I should look out for? Seems a conflict of interest but maybe this is normal??? Thanks

Hi  @Allison Karrels 

Can you add anything to your deal in Houston, do you know why the appraisal was low? Do you think MI had overpriced the house, or was there outlying circumstances with that particular house?  

Did MI offer to reduce the sale price when the appraisal was low? Thanks and best luck. I'm looking at MI for my next purchase. 

Hi, I'm looking to go in on a rental property w/ a partner, I'm hoping for some tip and pro/con on different organizational structure: Details--this partner and I own our current residence (30yr mortgage, not married, we are on title 50/50 right now. We are looking to start small and purchase 1 investment house around 100k (So not a huge business!), We will use a mortgage and split all expenses and earnings 50/50. So, we would need a business arrangement that would allow us to qualify for loans, get insurance, and to earn some individual money from the proceeds. Tax advantages and liability protection issues are important, as well as keeping costs low--LLC fees are very expensive in our state. What about LLPs? Partnership? Thanks for any and all leads!

Ok thanks, so I'm interpreting this that my strategy for now, it to WAIT, and then if the value goes up via appreciation and market forces, then I might be able to re-fi in the future.  If and when that time comes, what is a good way to get some money out? Heloc, cash-out refi, other options? Interested in pros/cons of different methods.  For perspective, I paid 65K (so 52K mortgage debt), current appraisal is 70K, and let's assume it appreciates to 85K in the next few years (just for sake of discussion).  What could I do with my equity? Thanks!

Hi, anyone have thoughts on the Avondale area, near the "old" Cerner campus? This area is north of the River, near North KC and Gladstone.  Interested to hear thoughts on market rents, appreciation potential, vacancy, tenant issues, etc.  Thank you all, AR