All Forum Posts by: Jeremy Clarke

Hi @Warren Fanaken, thanks for the note. In terms of where to look, i think you have to first determine your goals. Being a buy-hold investor, the midwest is a great place to invest because the barrier to enter is much lower than other parts of the US. You also have to look at the whole picture...how much are taxes in that state, are utilities insane, what can my average rents be per door, what is crime in the area like, etc. Also for me, i wanted to be able to go visit my property easily. I can be in KC from my front door to airport in less than 4 hours. Past that, i'd say it's all about picking a marketing and making connections. This isn't the only good market for what i'm doing, however i have made some nice connections and i feel the people i'm working with i can trust.

Thank you @Daniel Guerra. I do agree that you need to find someone you trust. That's true with anything when you aren't doing it yourself. 

Thank you @Stephen D.!

Thanks @Nicholas, yep....plan your work and then work your plan!

@Account Closed, yes i did walk the property. I also hired a professional inspector. It's a B to C neighborhood. Property is old with good bones, livable but there will be deferred maintenance that the cash flow will be able to handle. 

@Vladimir Khorikov long time no talk. I wanted to make sure you saw as well. Hope all is well man. 

Hi everyone - after a year of research and a couple of deals that fell through, i wanted to share that i FINALLY purchased my first out of state buy-hold property. It's a multi-family commercial building in Kansas City.

25% down, 6% interest rate, 25 year am, 11% cap rate, with 48% cash on cash return. My numbers are based on net return and include principal & interest loan payments, insurance, estimated taxes, utilities (i have to pay them), and property management. There will obviously be ongoing and differed maintenance as well. 

I'm sharing because i want new members / new investors to know that if i can do it, so can you. I'm just an average guy with a day job like most of you. Stay motivated and positive people. On to the next. Happy Monday everyone!

Jeremy

I'm purchasing an Apartment building in Kansas City, MO a couple miles from the financial district. I am looking for a property manager that can manage the building as well as do my accounting. If you are interested or know someone that offers exceptional service, please send me a message.