All Forum Posts by: Nitin John Abraham

@Sudhanshu Singha yup trying only small abnks on and around KC.

@Lee Ripma I did leave a message for bank of the west but will try again.

@Lee Ripma I have been talking with small local banks in KC. The last bank was willing to lend but not being a citizen was the hurdle.

Hello All,

I am an out of state investor in the Kansas City Market. I currently hold 10 doors in the area that i acquired in the last 10 months. A couple of duplexes, and the remaining SFR's. All of them are rented except 2 that I am working on remodels prior to renting. 1 of them is a true BRRRR.

The challenge I am coming up on is the 10 mortgage limit to expand my portfolio.

I have called over 20 banks in search of a portfolio loan to help me continue building my portfolio but due to COVID banks seems to be reluctant to lend. I recently got close to moving forward with a loan when i found out that the bank will only lend to US citizens and not permanent residents so that adds another layer of complexity.

Some details about my current portfolio:

2 duplexes - both rented

7 Single Family homes - 5 rented, 2 will be on the market in  a couple of weeks for rent

Total Portfolio Value approx $550K. 

Would love to hear from the BP community on how i can try to move forward!

Thank you,

John Abraham

@Mike D'Arrigo different areas in KC.

I also don't want to put all my properties with the same PM. This also helps me evaluate the service provided by each PM and helps me grow my portfolio with the right team.

@Zach Robbins thanks! I am currently doing exactly this!

Appreciate your detailed response.

@Dave Meyer thank you!

@Lee Ripma agreed I do use QuickBooks online as well and have it connected to my bank accounts

@Alex Olson pardon the typo - each of the PMs have their own software.

@Alex Olson I have property managers each above their own software but I am looking for suggestions on what I could use to track all of them and future adds to my portfolio