All Forum Posts by: BRadley Cottam

I am about to purchase a SFHR for about $35,000. I have spoken with my bank and I will be able to immediatly refinance (since im commercial and not personal loan). I will in turn use this money which will probably only be 75% of the 35,000 to either a buy another SFHR for cash or downpayment for a higher priced SFH. Is there a good reason for me not to do this when I can get mid 4% interest rate?

Thank you guys. Makes a lot of sense on the driving in the neighborhood on weekend later in the day/night. Krystal, wouldnt you think I would be fine with the bones of the house as long as I have an inspector I trust check it out first?

Hey guys,

I've been in Kansas City for a couple years now, but I'm still not sure of the "true war zones" that you'd want to stay away from. I've seen a few properties around paseo between 75th and 65th that look good and pass the neighborhood look test, but I know most people I talk to think its a horrible area (not rei people). Trying to set some specific boundaries that I should avoid. I have a few properties in nicer areas and I'm looking to diversify my risk a little with higher cap rate areas. Thanks for any help!

Is there a good website or place to learn as much as you can about a neighborhood as far as crime rate, occupants, income, vacanies, etc? I was looking on Neighborhoodscout.com, but have not found any reviews on it to decide if its worth spending money. I have found a few houses in a neighborhood that obviously is not an A neighborhood, but "feels" safe to me, but I'm trying to find the best avenue for due diligence on a neighborhood. I'm sorry if this has already been posted, but when I search I'm only finding specific cities. Thanks!

I was recommended a real estate lawyer and he missed our meeting today, so I'm looking for a recommendation for a lawyer in real estate to help out a beginner just looking to cover all my bases. I'm about to purchase my second sfr and need to plan legally for the future. I'm in the Overland Park, ks area. Thanks!

thanks guys. Unfortunately I am doing commercial. I wouldn't qualify for a conventional right now because of job history gap. But I'll be putting 25% down on 25 year commercial.

Hey guys. I am about to buy my first rental property and I have two rates that are close from two different banks. I am just wondering if I should be looking for something lower right now or if this is about right.

On 25 year its at 5.75 and 5.65%. Just doing a little checking. Typing in current commercial rates can be a bad thing on google.

Thanks for all the advice!

Thanks for the replies Jackie. The second post about just doubling down if I have expenses covered makes perfect since and is a good example of me basically missing some common sense. I see where you are going with the appreciation possibly going down, but thinking long term I should be okay given that over a 10 or 20 year period it is very likely to appreciate. Anyways, you have definitely easily convinced me its a much better idea to do a longer term and double down if possible. Thanks!

I know I'm missing something, but here is my thought for my first SFH investment property. I am going to buy a house for 150,000 that rents at about 1600. My Cash flow will be about 100-200 per month if I finance it on a 10 year term. I feel fine with chalking it up and banking on equity and appreciation for 10 years and then cash flow when I have no loan payments in 10 years. I have had trouble finding many posts about gaining 100% equity as quickly as possible so I just wanted to get a few opinions. I could possibly make the payments on a 7 year term, but it would be tight.