All Forum Posts by: Jason Fike

Originally posted by @Jonathan A.:

@Jason FikeThanks Jason. Do you have any recommendation for contractors, HVAC system, plumbing, framers, roofer, etc.? All those subcons?

 No. PM handles that.

@Jonathan A. Pat Grace. KC Commercial and Residential. So far I've been pleased with their services. I'm still dealing with the aftermath of Alpine. Recently a roof repair they "fixed" was leaking and an electrical "repair" they made had to be redone. 

@Aaron Adams I don't know you and my comments do not reflect upon you!

My review of Alpine Kansas City Property Management. Owners Marcus and Cara Painter. Alpine managed 4 properties I owned. This business relationship ended in disaster. According to Alpine's own records, Alpine failed to properly winterize a two story duplex I owned. They state that the contractor was at fault and they also state that the city's water shut-off valve was faulty. They state that the contractor could not shut off the water to the duplex. Well, the upstairs toilet froze and busted. Water penetrated the lower unit for days and days. Alpine discovered the incident. They replaced the toilet free of charge. They ripped out some (not all) of the sheet rock. They allowed this unit to set in a wet state for weeks and allowed mold to grow. They did nothing to mitigate the mold growth. The mold was actually going through the Sheetrock. They told me they were going to take care of this matter and this house was also listed for sale on the MLS by Cara. I only discovered the severity of the situation when I payed a surprise visit to this property, the Painters actually told me they had interested buyers haha. Mold everywhere. Gaping holes in some of the Sheetrock. The front door was so swollen from water damage that it couldn't be closed. Over 15k in damages. Alpine did nothing to make me whole. They didn't repair anything. They didn't compensate me financially. I've been back and forth with the BBB and the Missouri Attorney General. Nothing. Alpine blames the city for a faulty shut offer valve. If the valve wasn't working, they should've dug a hole and put in a private shut off valve. But no, they left my vacant unit unwinterized in the dead of winter. The heaters were off, no antifreeze present in any pipes. Then Alpine states that they couldn't make the repairs because I fired them and they couldn't gain access to the unit. Long story short, the unit was under their management and they destroyed it. I get it, mistakes happen. But they pointed the finger at everyone but themselves and did nothing to make me whole. Excuses and lies!!! They'll say anything to protect their reputation. It's the city, it's the contractor, the owner denied us access. Just make it right!!! You had ample time. I've got their emails, photos, 3rd party abatement teams. All the proof. I had several other issues with them as well. Poor craftsmanship on repairs, numerous clerical errors, employee turnovers, I'll never get one penny for their mistakes but I want other people to know how these people do business. Do your own research if you plan to do business with these people.

@Rafael Brown Yes, I managed to refi 3/4 of my portfolio with a local credit union. Now I'm looking at some mid-level flips. This keeps my money liquid. Then I'm going to focus on a pre rehab deal with an arv of 100k, purchase with cash then refi. Basically flip mulitple units, then buy and refi. Repeat.

At least that's the strategy at the moment. It tends to change from week to week. lol

Credit unions perhaps. I'm doing two small cash out refis currently with a credit union.

@Shawn Clark Thanks for the input, great advice. I'm using a property manager currently. I too experienced difficulties and found myself low on cash reserves. I'm setting aside plenty of my refi money​ for reserves this time.

@Andrew Syrios I agree. I guess I should add that I'm looking to scale asap. To simplify what I'm trying to say: I'm torn between leveraging 4 - 5 units, then I'm cash poor for a little while. Or buy 3 cheaper units and brrr. Or buy one one 100k unit and brrr. Decisions decisions.

True. I haven't began exploring other peoples' money yet. I'm really struggling with using up all my conventional loans in lower class vs. better areas as well.

I'm struggling with my next move and strategy. Should I continue with the BRRR strategy or simply leverage my next properties. My current situation. I bought 6 doors all cash. These units are in Kansas City. 50k to 70k range. I managed to refi some units. I'm about to refi the rest of the portfolio very soon. I'll have about 150k to invest and I'm keeping the rest for reserves. I like the brrr strategy but these lower class units come with problems. I'm wanting to move up a class to the 100k units. So should I leverage five 100k units? Or buy three or so more cash deals and brrr? BRRR keeps my money liquid but lower class. Leverage Everything puts me in a nicer class. Either way I run out of money soon. Simply looking for advice and perhaps another set of eyes to see things differently. Thanks

Screen them thoroughly. Verify everything. I inherited some tenants and "trusted" the seller and realtor. Had to evict just a few months in and the guy destroyed the unit. Over 10k in damages. Don't learn the hard way like I did.