All Forum Posts by: Alex Olson

Quote from @Keenan Smith:

Quote from @Alex Olson:

You came to the right place. You looking for multifamily or single family home?

 Single family most likely but I am not opposed to multifamily as well. Do not want to jump in too deep right off the bat though. 

 My first investment was a 5 plex and then I bought a duplex and then a house. I wish I would have stuck to simply multifamily but everyone has a strategy. 

Quote from @Tony Moore:

Quote from @Caleb Brown:

Happy to connect and chat

Hi Caleb, sure that would be cool.

End of October and then January. If you DM me I can get you on the notification emails. 

Property management is typically 8%. Leasing is around 2%. If you buy more townhouse style which is what I recommend for first time investors into kc you have no utilities that owners pay other than vacant. You will pay a bit for lawn care and it is up to you if you want to do snow removal. I am a broker here in KC that works with multifamily investors. There is a great network of service providers here in KC. 

You came to the right place. You looking for multifamily or single family home?

Welcome to BP. I co-host a multifamily meet up group in KC in overland park at Strang Hall. Next wednesday 3-6 p.m. No fee, no agenda, membership - just networking. 

Quote from @Patrick Gray:

Thank you all!

when you do a 1031 exchange you are able to rid yourself of the property without paying capital gains at the time of sale. If you love the property, keep it, if you don't, 1031 exchange and take all of your equity you have and get into a bigger or better or better located property. The 45 day ID window seem tight but it is not if you have a good agent on your side looking for properties and being in constant communcation. 

Of course I an partial to Kansas City. Great market for 1031 exchange investors looking for cashflow. I recommend A and B markets for first time investors in this area. I can show some good market trends here as well. 

There is a 7% cap rate under contract here in KC. And several other good deals available as well. Just depends on your return requirements. 

@Gp G. You can use @Dave Foster for your QI. Don't need to be local. 

The 1031 exchange seems daunting but it is not. You have 45 days to find a replacement property and you can ID 3. You can start looking now and assume that returns you find on current properties for sale will be similar to what they are now with a few exceptions.