All Forum Posts by: Dan Krupa

@Jim Genis, there must be something in the water here. I have a very similar story to you and Brian. Unfortunately I choose the Army over the Marine Corps, don't hold it against me. Love to see people striking out on their own and not afraid to take chances that can completely change their lives for the better! Hope to see you around. 

@Brian Twigg welcome and great plan!  I will reach out to you.  

@Silas Minkevitch, welcome to BP and best of luck to you!

@Marc Lease welcome to BP

@Joshua DuBois - there are some great turnkey companies in the Midwest where you might still be able to buy a property that immediately cash flows/has equity. However, many of those opportunities have passed due to market conditions. Do you research.  Best of luck to you!  

A partnership / JV can be a great call. As long as you pick the right person and property. As most people mentioned - do your research and remember you make your money on the purchase.

Hey BP. Does anyone have a good attorney or law firm they could recommend in the Northern Kansas City, MO area? Looking to set up an S Corp. Thanks. 

@Michael Hollingshead can you do a HELCO on your primary? That or maybe do some uber driving or something else short term to come up with that other 5%? A hard money lender is going to charge you probably 15% interest and points. Your term might only be six months to repay the loan plus the additional monthly interest payments. That isn't a bad thing for a flip or BRRR. If this is a buy and hold you might want to look at different options. Also, BP has a list of hard money lenders. So if you do go that route you don't need to search around for who to contact. Do your due diligence though on anyone you might go to for money. Best of luck to you.

@Michael Hollingshead have you looked at FHA? 3.5% down only. I know you said rental property but typically FHA only requires six to 12 months of time you live in a property to provide that loan. Potential house hack.

Also, a hard money lender is going to expect you to you to invest something. Especially if it is your first time working with them. They will want you to have some skin in the game, per se.  

Another option is your partner or do a JV with someone. They provide the money, you provide the sweat equity or may the deal/management etc...

Don't forget if you have a 401k you could roll it into a self directed 401k and borrow against yourself to provide that many. Many creative financing methods out there. Do some exploring on BP. Best of luck to you. 

@Jason Hawk, love the video on your mycompleteproperty.com page. Heck, I am already in KC and it makes me want to move here anyways lol.  

@Kim Tucker, amazing information! Thank you for sharing.