All Forum Posts by: Keith Johnson

Thanks, Steve! The goal is to keep growing my real estate investment portfolio and building my book of business as an agent/investor. 

Hey @Tyler Dietrich! To piggy back off of @Steve Redd, I'd also encourage you to be mindful of your vacancy rate and look at CapEx too as you currently have it at 0%. Just based on the what you've shared, it looks like a solid deal. Remember that value is derived from multiple points: tax benefits, cashflow, market appreciation, and/or forced appreciation.
What more can you share about the property? 

Hey @Dan Gilliam! Happy to be a resource for your real state needs in KC. The updates to the units look amazing. I see you have had it listed in the BP marketplace for 26 days. What's the traction been like lately? 

Thanks @Michael Kinsella! It was both exciting and stressful wrapped up in one. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $62,000
Cash invested: $40,000
Sale price: $150,000

Beautiful remodel in Kansas City’s Oak Park neighborhood. It was a rare 4 bed, 2 bath bungalow had brand new kitchen, bathrooms, windows, roof, gutters, modern light fixtures, plush carpet in bedrooms, and more. Exterior had fresh paint, new cedar shutters, and curb appeal for days! First level had two bedrooms and a full bath; second level had a third bedroom/office and a primary suite with ensuite bathroom and walk-in closet. Kitchen was updated with brand new cabinets and granite counters.

What made you interested in investing in this type of deal?

As a real estate agent/investor I have access to multiple sources for acquiring properties. So, when I saw this property on the MLS and was able to preview the property I knew there was an opportunity to completely overhaul it by adding value to the home.

How did you find this deal and how did you negotiate it?

I found the deal on the MLS and was able to negotiate the purchase price down. The sellers were local investors who were selling off their portfolio. This property was one the many I was interested in.

How did you finance this deal?

This is deal was financed using hard money, grant funds, and personal funds.

How did you add value to the deal?

The entire house was updated from the inside out.

What was the outcome?

The property was sold to a very dear my friend of mine who's a real estate agent. Her client's bought the property cash and were able to close in eight business days.

Lessons learned? Challenges?

Because there is a clock I was working up against, I learned that I had to be decisive in my decision making and trust my gut. There was a part of me that wanted everything laid out but there are facets of the project that required my voice in order for the project to move forward. More importantly, it pays to be connected and in right relationship with local agents that can help you put a deal together.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $62,000
Cash invested: $40,000
Sale price: $150,000

Beautiful total remodel in Kansas City’s Oak Park neighborhood. It was a rare 4 bed, 2 bath bungalow had brand new, upgraded kitchen, bathrooms, windows, roof, gutters, modern light fixtures, plush carpet in bedrooms, and much more. Exterior had fresh paint, new cedar shutters, and curb appeal for days! First level had two bedrooms and a full bath; second level had a third bedroom/office and a primary suite with ensuite bathroom and walk-in closet. Kitchen was updated with brand new cabinets and granite counters. Covered front and back porches made for a great space for outdoor relaxing and entertaining. Dry stone basement with tons of storage space and garage door walk-out.

What made you interested in investing in this type of deal?

As a real estate agent/investor I have access to multiple sources for acquiring properties. So, when I saw this property on the MLS and was able to preview the property I knew there was an opportunity to completely overhaul it by adding value to the home.

How did you find this deal and how did you negotiate it?

I found the deal on the MLS and was able to negotiate the purchase price down. The sellers were local investors who were selling off their portfolio. This property was one the many I was interested in.

How did you finance this deal?

This is deal was financed using hard money, grant funds, and personal funds.

How did you add value to the deal?

The entire house was updated from the inside out.

What was the outcome?

The property was sold to a very dear my friend of mine who's a real estate agent. Her client's bought the property cash and were able to close in eight business days.

Lessons learned? Challenges?

Because there is a clock I was working up against, I learned that I had to be decisive in my decision making and trust my gut. There was a part of me that wanted everything laid out but there are facets of the project that required my voice in order for the project to move forward. More importantly, it pays to be connected and in right relationship with local agents that can help you put a deal together.

@Amilcar Aguilar I'm an agent in the Kansas City metro area. And no, I haven't heard of that company. 

Hey @Justin Fraser...thank you!! I've made contact with @Lisa Doud a few months back thru BP.  I'll reach out to her. Thank you!

Hello BP!

This summer my wife and I are moving to Kansas City, MO. We have two properties in Norfolk, VA that will need property management. We are looking for persons who are dependable and client minded.

So, who are the best Hampton Roads property managers and/or management companies? Please share their names in the comments below. Thank you!

If the seller wants to sell the property via seller financing at the ARV, would it be wise to give them their price in accordance with your terms (rate, amortization, etc.)??