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All Forum Posts by: Cameron Pendergraft

Cameron Pendergraft has started 4 posts and replied 62 times.

Post: Handyman services KCMO

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

@Amanda Lizana Thank you!

Post: Handyman services KCMO

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

Do you happen to have his contact info? I'm not picking anything up on a google search.

Post: Would like input on this eviction in California

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

If the deal is that straight forward, I would get it in writing and then accept. One item I could see and be concerned of is that this is just a ploy to have you drop the eviction case and have to get it moving again once 6/24 comes and goes and he is still in the unit. I wouldn't cancel that until the unit is vacant and the locks have been changed. In terms of getting over on the next landlord by not having a record, they should be able to sniff something out if they are underwriting their tenants as they should, it's not your problem. It sounds like the tenant was able to pull this off with you for so long only because you had originally underwrote his mother and not him.

Post: Closing costs seem high

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

Are the points reflected in one of line items in the A. Origination Charges group. I would think they would be broken out and labeled separately. Neither one of those amounts tie out to 2% of 95% of the 91k purchase. The fees in Group A seem high.

Post: Insurance Agent Recommendations

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

@Matt Moylan is my broker and I was able to get lower rates with same/better protection on our rentals in the KC area. 

Cameron

Post: Buy or pass? Duplex in KC

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

@Nic S. How large are the units quoted? that hvac price seems high for two 2 ton units which I would think could cover half a duplex each unless the apartment was larger. 

I had to replace both hvac's in a duplex between 2018-2019 and the cost was around 11k total which included new AC/Furnace and flu inserts for high efficiency units.

Post: Financing for more properties

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

I believe you can only have 10 residential mortgages in your name. If you're married, your spouse can have another ten. Some banks will tap out at 4 but some banks will go to ten if you have adequate DTI, down payment, and reserves for every property in your portfolio. Finding a mortgage broker who can shop banks might help you find the most flexibility from 5 through 10 (20 if married).

Post: BRRR Strategy Question

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

@Phil Rizzo

I didn't see where it was previously mentioned but make sure a bank will loan on value not loan to cost. Your original post sounded like a bank would do 80% loan to cost triggering your 20% down payment. I could've misread though.

Post: Attn: Kansas City, MO Real Estate Agents - Help!

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

@Carly M.

This duplex was listed about two weeks ago and under contract within a day.


https://www.zillow.com/homedetails/7812-Wyoming-St-Kansas-City-MO-64114/2426442_zpid/

Post: Hard money for Primary Residence?

Cameron PendergraftPosted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 62
  • Votes 36

Has anyone ever used a hard money lender to purchase a primary residence through a cash sale and then refi'd the hard money lender out a few months down the road with traditional financing? Any ideas are appreciated.

Cameron