All Forum Posts by: Dan Bass

@kellianne Fedio did you end up purchasing these properties?   What price ranges did you go with and how are things going?

@James Milne I have seen some properties come on CREXI.com for Wichita.  Any insights into the 5 condos for sale on S Gold St? I've been told that Haysville is popular for the Meth.  

Also, there are two duplexes for sale in Park City.  Any insights into rent demand for this smaller city and viability there? 

These two are most likely on the opposite end of the spectrum and rent to different clientele, but from a property manager standpoint, how do these two properties fare and how much work do you think would be in managing the 5 condos?

@John Ringgold That's great! I've been looking for new houses to put some cash to work, but MLS is over-priced...even for Topeka.

I meant the zip code 66614.  I saw it on a website a while back and I was pretty impressed with it.  Not sure if it had something more to do with pandemic response to move to lower priced areas or what the motivation was.  

Let's connect.

@Carol Walls thank you for the reply. Iowa seems to be a great place to buy your liens. Do you have someone in the area that you buy the liens to look at the properties or are you just buying the liens for the interest? 

@Alexander F Pollock I’ve found that a little grey is a nice touch. Going white on white etc seems to say you’re putting in just the basics. A little color seems to a long way with many tenants. It can also help set you apart from all the white they maybe used to. Just my opinion and in my market as there are a lot of LL that do just the minimum

@John Underwood I hear what you're saying and I believe in that to a point.  

The body who doles this out is www.ntla.org

The reason I believe it to a point is that if, through tech and time, a system has been developed to make something easier, then it would be wise to at least look at the system.  Real estate can be a good example of that as buy and hold goes back hundreds of years or longer, not much of a huge systemic change in that.  Tax liens go back very far as well. Now, I understand that the insurance companies and banks buy up most likely the best liens then leave the leftovers to investors, but, what if there was an easier way and a trusted source?  What if the ntla has created a more honest team of advisors and a standard that they uphold? Kind of like the realtors association.  

All I'm saying is, before totally writing it off, it's at least a look and an ask if there has been any good or bad experiences with this company in particular.  There is a LOT of info on BP, the internet, etc and I know there are bad companies out there looking for your dollar and give you nothing in return.  I'm hoping to cut down on the learning curve without diving into a whole new topic from scratch and try and peel back the layers of the onion individually, but rather to converge knowledge pools. 

How long did learning all of this take you and did you dive in hard or dabble over time until it seemed more of a proven process for you?

Are there certain sources that you found more beneficial than others?

Hello, I listen to a lot of podcasts and try and check out companies that are presented on them when I can.  One company on a podcast is named Tax Lien Wealth Solutions. Its founder is the first female certified Tax Lien specialist and seems to know her stuff.  The FB page seems to have some info but older posts.  I don't see reviews per se online for good nor bad either.  

I have done my own tax lien years ago and failed as I see many on BP have done as well with companies.  I'd love to be able to add this to my tool belt, but would like to reach out and see if others have experience with this particular company and its reputability.  

I'm ok with some work to be done on the tax liens, so I am not expecting a truly passive vehicle here. Research needs to be done on any investment and property as well.  

Any help would be much appreciated as I am sure others might be thinking the same as we enter 2021 with distressed owners' tax rolls.

Thank you and be well. 

@Kristen Shook nice work! As I grew up and invest in Topeka, I know the area as I went to nursing school there as well.

I know the area well. A few questions.

Have you looked at the cost to add a new bathroom and bedrooms compared to waiting one year and buying another house the same way you did this one with low down payment?

Would you finish the house the way you want it and do a cash out refi to recoup the monies? What would the rents be vs new mortgage?

What are the comps for the extra BR/BA and is there room to do the refi as banks may only give you 75% cash out and you have 5% in?

My property manager and I talk about these things over time and he hasn’t steered me wrong. I’ve known him for over 20 years and is a personal friend of mine there. His name is Curtis and owns Property Evolvers there if you’d like to reach out to him as a local expert and PM in town.

I’d be interested to see what the numbers are after all said and done...or fix it up and rent it out as it stands and in a year, buy another house and repeat.

I’m happy you’re getting started and hope all goes well with whatever you choose to do!

Hey all!  I know Topeka doesn't have a huge presence on BP but there are a few of us out here.  I have a handful of houses in Topeka and have a great PM there.  I've known him for almost 20 years.  He owns Property Evolves, name is Curtis.  He is a full-time PM in Topeka and does a great job for me!  Properties are getting slim, that is for sure.  

As for population and trends...Topeka is fairly flat, but I've recently read about Topeka's new urbanization plan for the next 18 years and it is aiming to increase the population about 15,000 people.  Not a lot but for a city of 123,000-ish, that isn't so bad. 

The great news about Topeka not having great property managers, and I've ran through a few...is that all you really have to do is have a decent property and you beat out about 90% of the market.  Most PM's there really don't seem to keep properties up.  Just giving a little to the property can help you demand premium rents. That's what I do with my houses...just give a little extra and we have a backlog of people wanting to rent.  

Hope all is well and everyone is staying healthy and have a great New Years! 

@Brian Garrett hello! I just recently started moron the West Palm Beach area but I live OOS so I am not certain of the good and bad areas. I did a search of MF under $500,000 and there are several nice ones on Zillow...may not be a lot of value add but some good ones to house hack.

Can you help guide me in the areas that are more desirable/safe? I was considering a MF that has an in-law suite that I could use to fly down and stay in or move there and house hack.

Best wishes and happy holidays!