All Forum Posts by: JJ Jackson

I just noticed this thread and see it's little older so maybe too late to do any good. But I want to second @StevenMay recommendation for his affiliated property manager, Kansas City Property Solutions, April Preston the principal.

I have used, as out of state investor, for going on four years. She and her team may have saved me more money than they have cost me with their insight and work. I also like that their spring and summer hvac service to each home also provides eyes on the property an additional couple of times a year.

  @Evan Polaski @Mike Dymski  @Spencer Gray  @Alex Olson @Rick Martin @Bryan Mitchell  

I am very grateful to each of you for the insight shared. I have plenty of numbers to crunch and plenty to think about. In each of your cases, in the different directions of your thoughts, they all ultimately came back to the reminder that it's ALWAYS about the fundamentals.

Bryan, do you have a favorite data source you can point me to for the info you cited? I'm finding the info locally but not diced comparatively across regions or over extended periods of time.

JJ
 

Hi, Everyone. I'm a Missouri boy now living in the national parks/desert area of Southern Utah. 

I would love any input from any Midwestern, cashflow, multifamily investors with some insight for me.

I'm researching my second buy and hold in Missouri, fifth overall, this time multi-family. I know a large percentage of BP-ers are "wealth is from appreciation" and "value added" types, but this one will be turnkey, cash flow kind of deal -- already rehabbed and stabilized in a B-, well-cared-for-but-not-sexy area that has not appreciated much in years either in valuation (beyond value added) or in rent increases.

Of course, number one is, Do the numbers work for me (showing potential so far if banks come through), and Is it what I want? (that's where the research comes in, and comparing it to more local options). 

However, as I think of other benefits, I see a couple that I wanted to run by those with experience in this realm.

1) Am I right or delusional in thinking that the properties that have not participated in rocket-like appreciation will not suffer to the same degree if there is another downturn if the cash-creating spigot ever turns off? 

   (of course, just as likely as a downturn is that we may never see numbers as low again)

2) Am I able to count on more stable insurance and tax numbers in this more reserved environment?

3) Any other wisdom you can share with me?

Thanks.

JJ

PS

Thanks to those who weighed in previously with recommendations for area financers. I'll get back with a report of all I've learned there when the time is right.

Thanks, Steven!

Thanks, @Jeremy Hawkinson ! I will reach out and will be sure to make sure he knows you are spreading the word.

Thanks for those names, Alex! I am thankful for your sharing. As I call each I will let them now that you are putting the word out for them.

Regarding your question, I'm hanging on to what I have. My tax avoidance plan, at least for the time being is to hold on to them for life.

Here is some background if that helps you all help me: After nine years of single family investing, this would be my first multi. Although I am originally from KC and have one sf there, I have no commercial lender relationship already in place in MO. However, credit is perfect and history of rental income is documented through years of tax records. Down payment is in hand (esp at 20%). ROI and debt service ratios would be solid in a turnkey way but definitely not homeruns. This would be a buy and hold, with no value added projects immediately on the horizon. Thanks in advance for the BP community support.

PS, Let's go Chiefs!

Hello, All,

I'm researching a multi-family purchase opportunity in Jackson County Missouri (10-20 units). What institutions and specific contact favorites do any of you recommend?

What terms can I expect for such a project in the area?

I did see one recent poster reported that he bought an even bigger complex at 20% down, 25 yr amor, @4%. That seems like a great combo. Is that really doable?

Also, any insights you all have for me on approaching institutions would be appreciated! I am worried I don't have that "commercial lender relationship" in place.

Thanks!

Josh

Hello, All,

I'm researching a multi-family purchase opportunity in Jackson County Missouri (10-20 units). What institutions and specific contact favorites do any of you recommend? 

What terms can I expect for such a project in the area? 

I did see one recent poster reported that he bought an even bigger complex at 20% down, 25 yr amor, @4%. That seems like a great combo. Is that really doable?

Also, any insights you all have for me on approaching institutions would be appreciated! I am worried I don't have that "commercial lender relationship" in place.

Here is some background if that helps you all help me: After nine years of single family investing, this would be my first multi. Although I am originally from KC and have one sf there, I have no commercial lender relationship already in place in MO. However, credit is perfect and history of rental income is documented through years of tax records. Down payment is in hand (esp at 20%). ROI and debt service ratios would be solid in a turnkey way but definitely not homeruns. This would be a buy and hold, with no value added projects immediately on the horizon. Thanks in advance for the BP community support.

Josh

PS, Let's go Chiefs!

Hello, Yosef, 

Thanks for sharing the details of your deal. I sent you a couple of direct-message questions that I hope you will take a minute to answer, so I wanted to point you to check your inbox please.

Thanks a lot. 

Josh Jackson 

St George, UT / Jackson County MO