All Forum Posts by: Ken Radino

@Jacob Lair 

Some family medical issues have come up that wiped out most of my investing money.  I am still looking for that first purchase.

@Andy Luick

I don't think my sister in law would appreciate my wife and two little kids. I know what you mean though. We have thought about renting our place, but aren't in a position to have two mortgages if we can't find renters.

@Michael B.

Thanks for your thoughts, that's was my reasoning for possibly starting with a townhouse. The problem I found was a lot of them don't let renters in, or the percentage is too small where it is either filled or may become a problem.

Thanks @James Mudd I want to buy and hold, but eventually I will need to sell.

@Andy Luick I live in a SF already, otherwise I would definitely look into the 203k loan. I think I will start to turn my focus to a SF, save money for now, and just keep my eyes open for a deal.

@William Robison I'm reading your blog on UVP now.

Thanks Andy & Andy, for some reason I can't mention both of you.

@William Robison hope I can make it to the KC Meetup to see you and others face to face. I think right now I just need to save save save, then I will be able to do more with my money. I would like to partner up on a deal with someone in our area, but I'm not sure who would hold my hand through the process.

Thanks @Mike H.

Sorry it took so long to reply. I will have to look into a SFH, just hesitant that I might get in over my head. We are in a very good school system, and like I stated before, the SFH are old. I can do cosmetic work, but I don't want to replace roofs or joists.

Hello all,

I am a new investor that hasn't made a deal yet. I am looking for pros/cons on different property types keeping in mind that I am just starting out and would be managing myself.

I like the idea of a townhouse that has maintenance provided (although HOA dues may rise). It would also give me a newer property (less than 12 years old) than if I bought a SF or Duplex (Blue Springs, MO).

When I lived in a townhouse, I know the HOA paid for trash, snow removal, lawn care, had amenities such as a pool and workout room, and even had insurance in case a roof or siding needed repairs.

I also like single families because I can get a bigger return. Most of the ones I can afford are in bad shape, and I am not a handyman (video director). My concern with duplexes is who is responsible for lawn care/snow removal, and most in the area that I can afford are section 8, which I know very little about.

I am lucky to have all these options in my town, but I want to hear what others think a newbie should start with and why. Please keep in mind that I would prefer to buy and hold. Thank you in advance for any and all input.

@Steve Babiak @NA Foster

I will run these by a CPA, I don't think a gift tax would apply if they are co-owners though, does this make sense?

She wants to avoid waiting until death to split ownership. My MIL is only 61, and we plan to hold onto it and rent it out if she moves out. She would normally leave this in her living trust, is her CPA said that she would need to make one for MO, when her primary residence is NJ and she splits time.

• Joint tenancy. Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts or other valuable property together. In Missouri, each owner, called a joint tenant, must own an equal share.

Thank you @David Krulac

This property was bought just two years ago with cash. My MIL might be moving out of state, so they want everything to be taken care of now. The title company said almost the same thing Bill had mentioned. I do plan on running it past a CPA to see what they think, though they might charge me $$$

Thank you for all your help!