All Forum Posts by: Karl Holmlund

@Heather Bailey yes! Definitely have been doing that and am now connected to a few great local contacts. Reaching out here as well if there are any others!

Hello BP world!

I got into multi-family back in 2018 because of BiggerPockets, so figured I would come back to the well for some help!

I need help finding a replacement property for a 1031 exchange in smaller towns in Southwest Missouri, preferably within a 3-4 hour radius of Warsaw, MO. I am looking for B minus or C class property.

I have a great team in southwest Missouri and want to expand there, or even just across state lines into Northwest Arkansas or eastern Oklahoma. I have the best experience in the classic BRRRR strategy particularly with older multi-family that has not been taken care of or managed well. I am not afraid of the property that needs a lot of work, in fact, that is what I am looking for.

I want to be able to invest a good amount of money into the rehab and then manage it well for a strong cash flow. I am more interested in creating the value than I am on breaking even for 5 years and banking on appreciation of a market.

To summarize:

- Multi-family within the $1.5M-$3.5M purchase price. So probably 30-70 units
- I want something that needs a good amount of work. I am not interested in turnkey properties. I will fix it and provide my own property management and thereby increase the NOI
- B minus to C class property

Some markets I am interested in

• Sedalia, MO
• Warrensburg, MO
• Joplin, MO
• Warsaw, MO
• Camdenton, MO

And other towns surrounding there!

I realize what I'm asking for is probably the same thing that everyone asks for, but I'm looking for anyone who may have leads or wants to help me!

Thank you!

Karl

Some markets I am interested in 

• Sedalia, MO
• Warrensburg, MO
• Joplin, MO
• Warsaw, MO
• Camdenton, MO

And other towns surrounding there!

Hello BP world!

I got into multi-family back in 2018 because of BiggerPockets, so figured I would come back to the well for some help!

I need help finding a replacement property for a 1031 exchange in smaller towns in Southwest Missouri, preferably within a 3-4 hour radius of Warsaw, MO. I am looking for B minus or C class property.

I have a great team in southwest Missouri and want to expand there, or even just across state lines into Northwest Arkansas or eastern Oklahoma. I have the best experience in the classic BRRRR strategy particularly with older multi-family that has not been taken care of or managed well. I am not afraid of the property that needs a lot of work, in fact, that is what I am looking for.

I want to be able to invest a good amount of money into the rehab and then manage it well for a strong cash flow. I am more interested in creating the value than I am on breaking even for 5 years and banking on appreciation of a market.

To summarize:

- Multi-family within the $1.5M-$3.5M purchase price. So probably 30-70 units
- I want something that needs a good amount of work. I am not interested in turnkey properties. I will fix it and provide my own property management and thereby increase the NOI
- B minus to C class property

I realize what I'm asking for is probably the same thing that everyone asks for, but I am not a large institution and don't want to compete with the larger firms. I'm looking for anyone who may have leads or wants to help me find that rare off-market deal!

Thank you!

Karl

Hello,

I am currently looking for an attorney in the Colorado area to ask some questions around entity setup for myself and two business partners. We are actively searching for multi-unit properties in the area and have identified a few, but would like to speak with an attorney who can guide us on the best entity for our partnership and a few other questions. We plan on doing many more deals with the goal of one day having a couple hundred units. One of us is fairly seasoned in the RE world and the other two are newer to the space.

Does anyone have any recommendations they can direct me towards? I would greatly appreciate it!

Thank you,

Karl

Thank you everyone for your responses! I really do appreciate it.  I certainly understand this is an extensive process and the pickings are slim, so I'll be sure to watch closely and be as educated as possible on this. I appreciate the quick follow up from you all!

Hello BP!

I am a "newbie" in the real estate investing game, but over the past year I have been listening to the BP podcasts and talked with a few family members who have benefited from creating wealth through real estate and I am now beginning the process to obtain my first property with my business partner Jeff. I won't give the full detail about how we got into real estate as Jeff as already put out a post on this a few months back.

We currently live in San Jose where the market is a bit too steep for what we want to do, particularly on a first property. We have met with an agent, gotten pre-approved for a loan, and have started to talk with some other investors and are now looking to invest in a property in the Sacramento area. We are wanting to go to the next steps to start analyzing some properties but we do not have a real estate agent in the area. Are there any real estate agents on this forum or that you know that know the market well, have helped previous investors, and can help us out? We would greatly appreciate the introduction and would love to speak with you as soon as possible!

Thank you,

Karl

Thanks for the intro!

As Jeff mentioned, my name is Karl Holmlund and I went to the same university as Jeff in Southern California.  For as long as I can remember, I've been interested in finances and making money in unique ways.  Whenever I have free time, I find myself thinking about ways to make money or save money. I have invested in the stock market for the past 6 years and have recently grown very interested in the real estate world.  I discovered Bigger Pockets about a year ago simply through a few Google searches, and have recently dove into listening to podcasts, reading as much as possible, and having many conversations with Jeff about the idea of investing together.

I too have seen the benefit of real estate investing mainly from my wife's grandfather and I want to get into the game!  I also live in the San Jose area and have been up here for the past 2 years. I work in sales and my wife and I are 100% on board with this plan.

As Jeff stated, we are looking at partnering together on mid-size apartment buildings out of state, most likely.  The plan at the moment is to save agressively, amass as much knowledge as possible from other investors on the Bigger Pockets thread, and listen/read as much about real estate as I have time for.  I look forward to connecting with many of you on this thread!