All Forum Posts by: Josh Coup

Dear BP community,

Based on the pics, it looks as if someone tried to flip/rehab. I did a google street view of the neighborhood, which looks reasonable, given that this part of KC can be bad depending on the area. There is a Medical Research hosp near by. I don't know the condition of the big cap ex items, and so my cap ex number may be way off. Please advise on the other expenses too. It's cheap enough, I could easily put 20% down, then use hard money that I've had recommended to me.

Thanks in advance!

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*This link comes directly from our calculators, based on information input by the member who posted.

Dear BP community,

I recently met with a college buddy who is a successful REI with about 28 doors, has built some ground up, and is beginning to do some commercial. When I asked him how he got started, he said he just kind of fell into when someone offered him a multi-unit via seller financing. He did use private money for the down payment. My question to the community is: is it possible to BRRRR a seller finance? What are common ROI ramification of doing so? What are other tips and experiences others have had? What are common interest and term arrangements with seller financing?

Thanks in advance!

@Tim Herman

In your experience, regarding hardwood floors, avoid them, replace them with something cheaper, or make sure your rent can make up for them. Obviously, the other items are essential for living, but what would you suggest for floors? I've seen where flooring can really increase the value and possibly attract better tenants and higher rent.

Thanks!

@Tim Herman Thanks, I'll take a look at that. I've still only thrown a few properties into the calculator and haven't ironed out the nuances of calculating a deal.

https://www.zillow.com/homedetails/5334-Brooklyn-Ave-Kansas-City-MO-64130/2348610_zpid/?

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*This link comes directly from our calculators, based on information input by the member who posted.

I'm a newbie out of the KC area. I'm looking to land my first deal within the next year. I originally had MLS set up to send me properties in closer proximity to my residence, which is Overland Park. Well, most of Johnson County, KS would probably be rated B areas at the worst. And the prices reflect this. I'm now changing my search to lesser rated areas of the KC metro. My question is: Is there an objective way to measure the quality of a neighborhood? I'm not looking to invest in "war zones" as they are put. Or is it pretty much subjective? Eventually I'd like to also invest out of state where I'd have no familiarity with different areas' nuances.

Thanks,

Josh

Hey @Micah Hensley,

I have the same issue in Overland Park (where we live). I actually just told my agent to change my MLS prompts to focus on properties under 100k and in areas like Grandview and certain zip codes up the stateline. I'm hoping to get my first property in 2020 using brrrr.

Hey @Raif Harris

I just got David Green's BRRRR book myself. Great read so far! Every page makes me more excited about the future. Don't forget to act after (or while) you read.