All Forum Posts by: Koki Agata

Hello dear bp friends,

I am thinking about going to a county court where I live, and try to obtain vacant list.

With that said, does anyone have any advice or warning, anecdotes you are willing to share?

Any insights would be great! Thanks in advance!

@Michael Holmes

I am also having hard time finding small multi that cash flows well. Everything seems expensive or maybe I'm not looking correctly...

I'm looking around Waldo since my wife works close to Waldo and Waldo seems safe with access to shops and such.

Keep us updated on your search!

Cheers

Cheers

@Sylvia B.

Thanks for that. That's good to know

Hello Lee,

I am not sure where exactly in Springfield the property you are talking about is located, but my wife went to a uni in Springfield, and I visited couple of times, and I am under the impressions that it is more or less a college town? So although the rent seems low, and does not meet 1% rule even after you rent out both units, perhaps you can rent it out to students per room basis, and maybe then it might cash flow?

I think as long as numbers work after you rent out the second unit, it works as a house hack just fine in my opinion. The rent from one unit may not cover the mortgage completely, but it would significantly lower your most likely largest monthly expense. I would just make sure that it won't put you under water when you move out.

I agree with others though that 140 seems too high for the rent it gets.

Good luck!

Cheers.

I am planning to be there as well :)

Thanks.

Welcome Brian!

Hi!

I am no financial expert, but perhaps it depends on your mindset and your wife's opinion? 

I myself would personally feel more comfortable getting rid of the debts first, especially if it is around 13% APR, but if you and your wife feel comfortable with having debts, then why not go for it, especially if you can qualify for VA loan.

Maybe you can take HELOC on your condo, and pay off your debts with it? Again, depends on the amount of the debts, and equity you have on your condo, your mindset, and your wife :)

Good luck!

Cheers

Welcome Timothy! I have no advice nor experience to give to you, but I just wanted to encourage you and wish you the best!

Good luck and keep us posted on your success!

Cheers

Welcome Bryan! I am also new to Kansas City, but loving the area so far! Good luck!

Congrats on your first property!

Small multi is a path I am looking into as well. Did you find your deal on MLS? Or did you have to market for it? Were you able to find tenants easily? I live in Kansas City, and there aren't many small multi on MLS, so I was wondering how you found yours!

Anyhow, good luck on your journey to Financial freedom, and all the best for 2020!

Cheers