All Forum Posts by: Keoki Kimzin

@Summer McDade thanks for the recommendation!

Alecia, I'm also very interested in MHP investing.  I would recommend the Mobile Home Park Investor's podcast episodes 1-12 a must listen prior to jumping into a deal.  I really love the asset class and look forward to investing in it myself in the near future and would love to share what I've learned during my research.  PM me if you're interested.

@Greg Parker @Joseph Back any supplementary materials you’d recommend to accompany an online course/test prep?

Hello all, I'm moving to Montgomery this summer and plan on getting my agent's license.  I'm looking for any recommendations for schools in Montgomery or neighboring areas that you may have.  I appreciate your help and look forward to getting back in class!

Best,

Keoki

Hello all,

Me and my wife will be moving to Montgomery this June and will be looking to purchase a value add 1-2 unit property using a 203k loan.  To pregame a bit, we are looking for recommendations for familiar lenders, fha consultants, approved contractors, and realtors that have experience in this program.  I would also appreciate any tips to survive the process as well.

Can't wait to go to local hangouts and REIA meetings. Excited to explore a new market.

Thanks!

Keoki Kimzin

@Ryan H., steer clear of any properties that aren't cash flowing for sure.  The Tucson real estate market is competitive but it's not so competitive that buyers aren't purchasing cash flowing properties.  Keep your eyes open to different lead generators such as:

tarmls.com, zillow, craigslist!, property managers, and a great agent to name a few

Keep analyzing even if they are bad just to work that muscle.  Time to get the networking rocking and rolling.

Good luck and PM me if you need recommendations or just some Tucson know how.

Best,

Keoki

Also checkout this site out to get good parcel data: zoning, property taxes, etc

http://www.asr.pima.gov/Parcel/Search

@Anthony Gayden

Pm me about this topic. I have insight into companies over worked with in the past specifically mf

Update, refi complete!

Overall, what a great property to learn on from rehabbing trashed units, working with contractors, re-renting, to the entire refi process!

Numbers recap:

Original Purchase Price: 160K Original Loan (75% LTV): 120K

Rehab: 55K, raised rents around 35%

New Appraisal: 260K New Loan (@70% LTV-local limitation?): 182K

End state:  cash flowing property and cashed out for our rehab costs (~55-60K).  Ready for another property.  Next up 8-12 unit seller finance deal while adding another partner, fingers crossed.  Thanks for the input everyone, saved me a ton of time, energy, and especially money!

Thanks gents for your REIA recommendations and I planning on seeing what it has to offer to me since I'm currently stationed in Italy for the next two years. I can't believe I didn't go to a meeting while I was stationed in Tucson, what a neat resource!

With Joint Venture agreements, where is the property placed for asset protection?  I'm reading that the Joint Venture is more like an operating agreement between two entities not an entity in it of it's own.  Any resources besides bp would be greatly appreciated.

I know we are all mourning the loss of our wildcats but I am looking to transfer properties to an LLC for the first time. I've been reading a lot of articles on BP but It still is beyond my depth.

Firstly, I'm investing with a single partner now but would like to invest with other equity partners in the future.  To me this means separate LLCs per property with different owner groups.  

Secondly, will I have to hire a bookkeeper or accountant for anything but tax returns in AZ if my property manager is taking care of bookkeeping for my properties?

Lastly, I would really appreciate any recommendations for lawyers in AZ.  Thanks guys and I'm excited to keep pushing!