All Forum Posts by: JP K.

Hey BP! Looking for a licensed contractor in the KC, MO area for a rehab that I currently have under contract. I am based in CA, so ideally this contractor would have knowledge on BRRRR strategies, can formulate an accurate scope of work, draw out rough floor plan, and execute level of work for flips and long term rentals. We are closing on a property shortly and would love to have some competing bids in place. Please let me know of some folks in the area, would love to connect!

@Brandon Sturgill That is fantastic to hear and extremely encouraging! Would you have a few wholesalers that you recommend? Also, took a look at what Invest Hypothetical does and from initial aesthetics, looks very well organized. Are there dollar thresholds to be active on this platform? Where do you guys come in and leave from the deal?

Thanks!

Hey @Brandon Sturgill thanks for making the time to respond. All valid and great points you make. To answer your question I do not have any relationships to the city whatsoever, I have never even been! I had a similar experience with my first SFH in Kansas City, and before taking a flight I wanted to make sure everything penciled out beforehand, then I felt is was time to take a look at the landscape. So in that sense, I completely agree with your comments about agents gushing about their transitional neighborhoods. We have areas here in the Bay Area such as Oakland that are block to block...literally one block may be seeing a complete transition with renovated Victorians, and the other may be housing projects in the worst part of town...all depends.

In Columbus are you finding multi-family properties meeting/exceeding 1% rule? Not really looking to take on huge CapEx projects, but also not shying away from upgrades and mid-level cosmetic work that may need to be done. The goal is to definitely establish a strong team for when i need to lean on them.

Thanks for your insights. 

Hey BP Community! 

Looking to revive this convo in Q1'19 and was hoping I can get some guidance on multi-family investing in Columbus. I am looking to find an investor friendly agent that has great contacts in the area to build out a team on the ground, with little oversight as I am an OOS. Currently looking for 2-8 units in the area with the possibility of expanding from there. 

Please let me know who I should be in touch with. Thank you, greatly appreciated!

Welcome Adam! I also live in SF and have been exploring the out-of-state investing strategy. I work in the Financial District in SF so anytime you would like to grab coffee and discuss further, drop me a line. 

JP

Thank you all for taking the time to respond.

@Bob Okenwa - Thanks for the info! From what I saw while there, speaking to locals, and reading some of the forums, I thought that the market was strong enough to at least explore the possibility of setting up as an STR. I have been trying to dodge the properties that have the land lease fee, all things being equal when comparing properties.

@Wendy Schultz - Great info, thanks Wendy. That makes a lot of sense dude to the frequency of guests and the level of attention they may need. I will do some research in to local PM's and see the checklist of services they offer. The AirBnB I stayed in had a keyless entry which I though was a great idea and cut down on the back and forth between a manager. 

@Michael Greenberg - Thanks so much Michael, I will PM you now!

Hello BP Community!

I wanted to reach out to the community to get some feedback on a market that I have recently visited and am interested in making an STR investment. My wife and I really loved the area, and saw a lot of potential for an investment property as the area draws a high-end residential community, as well as year round events that bring in droves of tourists.

I am looking for a 2/2 or 1/1 condo in the Camelback area (not far from downtown), that will be in the $100K to $150K range and will meet the cash flow requirements. I live in CA, so this will be ideally be under property management. 

Here are some questions I had:

1) I guess I need to step back and ask - what is the consensus on Scottsdale as a viable STR market? Or is the opinion that a long-term tenant is a better way to go?

2) Does anyone have contacts for a great property management company? What is the % range that these management companies tend to charge and what do their services entail? I have a SFR in KC, MO and property management in that area tends to be around 8-10% of gross rents.

3) I noticed that many condominium communities employ land lease fee's, how prevalent is this in the Scottsdale area?

Thank you all for taking the time and look forward to your responses!

@Ryan Rodriguez congrats! Encouraging to see young guys getting after it. I currently live in SF, so I understand the difficulty of finding deals in expensive markets. 

Out of curiosity, how are you getting your 8.25% cap rate? Or is that an established guideline you put in to follow?

Looking forward to hearing about more deals and more accomplishments.

@Mike McKinzie Hey Mike - currently looking to purchase a TK in the KC metro area, did you use a PM company to purchase and manage the home? If you can PM me their name so I can avoid use with them! Hope your situation got resolved in a timely manner. 

@Chris Nordella Just read this post and congratulations on your first turn-key investment. I am currently in the process of doing diligence in the KC area and would love to know some lender/PM suggestions you may have. My metrics are not far off from your initial purchase, so any way I can pick your brain would be great. Please shoot me a PM when you have the time.