All Forum Posts by: John Witherspoon

Thanks Daniel, I realize what you are saying is true, thank you for the advice.  I may be too picky on my criteria, waiting on the perfect.  I need to start looking at units that are available, possibly in areas nobody is interested in.  I'm not in a big hurry, but I was wanting to get something going.  Thank you again.

I was referring to the Missouri side, but it doesn't matter that much.

Hello all,

I am looking for SFR (2-3 beds) and small multi family units in the Kansas City area. I prefer they be in class b and c neighborhoods. I would also like to find something that is 50% or less that market value pre rehabbed. I would also like to find something under 100k, or slightly over it if possible. I am tired of sitting on the sidelines and I am ready to get my feet wet. Sink or swim I'm diving in. I would also consider partnering with somebody just to see how they do it. I think I am looking in the wrong price range or in the wrong areas. My goal is to find something that I can put sweat equity into and get my cash back out. Thank you all

The reason I was wanting to buy through an LLC is because she has very little credit. I thought that we had a 50/50 split it would be fairly easy to buy.

First off, I am brand new to REI. My daughter is wanting to move into an apartment, but does not have the funds to do so and is wanting me to assist. I told her that she would just be throwing her money away by doing so, and would be better off moving into an owner occupied duplex. This got me to thinking about creating a 50/50 LLC with my daughter. I may be missing something, but it sounds like a good idea. I was thinking that if we went this route we could buy a duplex and get my daughter into it with little down since she will be occupying it. If this were the case we could continue doing this every year or so as long as she lived there for a year and met the owner occupant requirements. What I don't know is if the requirements change if it is an LLC. With that being said, my youngest daughter will be 18 in two more years and I could do the same thing with her. I was thinking this would be a cheap way of building an inventory of multi units. Please tell me where my strategy is flawed. Thanks

Sylvia, congrats on your purchase.  It looks pretty nice from the outside, where exactly is this house located.

Hi Gabe,

I am also new to BP, this is an amazing site.  I am looking to find some properties that I can flip and also looking to hold some.  I am in the Kansas City area and would love to work wuth you in the near future, along with others.  Let me know if we can work together.  Thanks and good luck to you all.

Thank you Paul for the great advice.

I would definitely be interested in meeting some investors in the area.  I am new to this and would like to meet others that are involved.  Please keep me in the loop.  Thanks

I am new to real estate and would like to work with somebody in the Kansas City area to help me get started.  I would also be interested in partnering with experienced flippers to at least get my foot in the door.