All Forum Posts by: John Ringgold

@Alex Kolbo Bring your agent if you have one!  It's difficult for them to represent you and advise you if they have not seen the home.

You should ask the seller to tour of the property so you can accurately determine how much your rehab cost might take so you can pin your numbers down!  The home may be in better or even worse condition than you expect which can drastically skew your numbers.  If the seller hem haw's around because the property has tenants, they may not want the tenants to know they are considering a sale.  We have offered for our buyer to wear a tool belt and act like an inspector or contractor and walk the property with the seller.  

Additionally, you could write the contract contingent upon a personal visual inspection and approval of the property as part of your due diligence.  In our area, we make an inspection part of the contract, however in other areas you could bring an inspector with you when you tour the property (if you go this route, let the seller know you are bringing your inspector as it make take more time and they will look much deeper than a typical walk-thru), or the contract may give you a window of opportunity after writing the contract to have any and all inspections with a opportunity to get out if you don't like what you find.  Good luck!

Hi Josh! Let's connect. I'd be happy to chat about real estate in the Topeka area. I can share my insight about any homes and areas you may have your eye on. I am happy to put together an ARV on any home you find and send you a video walk-thru or host a video call showing with you! Let's connect!

yes Angelica!  The house on Clay!  That was a nice opportunity,  I hope it's working out for you. :)

Welcome to the world of investing Dylan!  

While I had been working with investors to help them buy and sell homes for years, My wife and I also made the decision about 18 months ago that buying some investment properties would be a great opportunity to secure our financial future and help us get to our freedom number and "retirement" sooner rather than later!

In the last year we've picked up six doors and made a big dent by adding a significant amount to our monthly cashflow.

You're on the right track to start with real estate investing podcasts, I also suggest you pick up a few books from the Bigger Pockets library!  There is a wealth of information from super smart people with a lot of details and samples to learn from.

When you are ready, reach out!  I'd love to sit down over a cup of coffee to answer any questions you might have and share our experiences so far in this fun world of real estate investing!

R.com may note us as a hot market which is great for sellers getting the opportunity to capitalize on the investment of home ownership, however, buyers are discouraged as they continue to write offer after offer and continue to miss out.  My last listing had seven offers and only one won the bid... that is six buyers still searching for a home that doesn't exist.

What we are seeing, and I assume many areas across the country are seeing, is potential sellers would love to sell and make a move, but they can't find a home to buy because seller's aren't putting their homes on the market because they can't find a home to buy!  It's a vicious circle!

Topeka has also been noted as in the top cities to currently have the fewest listings.  https://www.realtor.com/news/t...

With fewer listings, prices continue to climb as the majority of properties listed are still getting multiple offers well over asking price.  As these homes are used as comps for the appraisal down the street, the values keep increasing.

Topeka has a population of about 126,000 with 56% of residences being owner occupied.

As of this morning, Topeka has 72 active single family homes for sale in the county.  In February 2021 this number was 81 and in 2020 there were 231!

Buyer's with FHA or VA loan's are struggling to win bids as the majority of the offers we have received lately have usually included at least one reasonable cash offer. 20.2% of the sales in 2021 were cash and 55.8% were sold with conventional financing.

With the promise of increasing interest rates, we feel it's a great time for investors looking to get out to cash in on their equity while home values are high!  

Topeka, KS would be a good option as well!  Maybe not as many opportunities as our population is around 120k, however we can hit the 1% rule and the cost of purchasing a house is commonly 20% less than the KC area.  Let me know if you'd like to chat more about opportunities in Topeka!

I recently met with, and was impressed by Travis States at States Construction here in Topeka.  (785) 221-6279

Most of the contractors I know are flooded with work right now, but Travis took the time to take a look at a job and put together a bid for my client.  Although he was busy as well, he was willing to find a way to get this job in his schedule sooner rather than later.

What kind of work are you needing completed?  Full flip?

We recently bought a duplex and shortly before closing we found out the person living in the unit was actually subletting from the lease holder. After closing we notified the lease holder that their month to month lease would not be extended. She said she would make sure the people would be notified and would be gone by May 1. This week we get a call from the person living in the house stating that our lease holder did not notify them. We expected them to be out so we could begin demo.

If they don’t leave, what is the process to remove them. They never had a written lease with our lease holder so are they squatting or do they have additional rights?

Any help or guidance would be appreciated.

Where’s the best place to find a hard money lender? I have some buyers with $45k down and are looking at an $80k house.

Was thinking I could find lenders on BP, but am not finding it from the app on my phone.