All Forum Posts by: Dave Clauson

Hi Aaron, I've worked with two banks in the KC area. Mid America Bank in Lawrence and Great American Bank which has KC branches. Both are very investor focused.

So far. We will see about this month. 

PM me. I bought one from a pretty visible one here. Really nice people but so far four out of four statements have been wrong. 

My partner and I are looking at a 100 year old apartment building. It's in a great location and under market rents. We are a lot of potential to update apartments and raise rents to market. The buildings have a good amount of deferred maintenance which we can estimate. Before we make an offer I'm trying to figure out how to size a risk. If we ever have to pull a permit for rehab we will need to bring the property up to code. That scares us on a 100 year old building as that could be huge dollars. How have you accounted for that risk? Thanks for any advice.

I work in Topeka and have a rental there. I'd be up for a meet up.

I'm looking to see if anyone has a property manager for a small apartment complex in the Midtown area of Kansas City. Anyone have someone they like?

thanks all. Good perspective. I don't want a lot of information but from a customer experience standpoint it would be great to get some info on who the PM is trusting with my asset. My surprise came when I found out they had placed a section 8 tenant. That was never raised and a possibility by them and in all the questions I asked them that wasn't was. I hate surprises. 

I purchased a turnkey property last fall and was told they would keep me informed of what was going on with the house. I haven't worked with a property management company before. When your property manager rents your property do they ever give you any kind of information about who rented it and what their qualifications were?

I'd be in for a morning coffee in Topeka.

I bought a house in Kansas City recently from one of the well-known turn key providers. One suggestion that worked for me was to put an appraisal clause in the contract. I had the house independently appraised for a couple hundred dollars. The house I had a contract on didn't appraise for the value they wanted. We revised the contract to the appraisal price. Even though turn key providers do know areas, sometimes they get their price wrong.