All Forum Posts by: Kyle Burkhardt

Hi All - I am in escrow on a duplex in Saint Joseph, Missouri and am wondering if anyone knows of a quality property management company in the area.  Thank you so much!

Kyle

Hi BP Members,

My business partner, @Sean Edward O'Brien, and I are looking to expand our portfolio and start investing in Milwaukee, WI.  We are wondering if anyone would be willing to give us some advice on the city and a basis to start with (i.e. agents, property  management, lenders, etc.).  We both live in the state of California and are excited by the opportunity to invest in the great state of Wisconsin.

Thank you all very much!!

Kyle

Hi BP members,

My business partner and I, @Sean Edward O'Brien , recently purchased a buy and hold duplex in Kansas City, MO. The cash flow is "great" and the property easily satisfies the ever-so-important 1% rule. We have owned this property for about two months now and it's been nothing short of a steady stream of invoices from the property management company.

With that being said, we really have no idea what to do about it. Is it normal to have starting out repairs with a home that continues to eat away at our cash flow and reserve funds? Do we continue to fix these repairs as they come knowing that the tenants are still paying our mortgage? Do we sell and look for another place that doesn't require so many repairs?

We are lost and are looking for any and all strategies that you guys would recommend. Thanks a lot!

Hi BP members,

My business partner and I, @Sean Edward O'Brien, recently purchased a buy and hold duplex in Kansas City, MO.  The cash flow is "great" and the property easily satisfies the ever-so-important 1% rule.  We have owned this property for about two months now and it's been nothing short of a steady stream of invoices from the property management company.

With that being said, we really have no idea what to do about it.  Is it normal to have starting out repairs with a home that continues to eat away at our cash flow and reserve funds?  Do we continue to fix these repairs as they come knowing that the tenants are still paying our mortgage?  Do we sell and look for another place that doesn't require so many repairs?  

We are lost and are looking for any and all strategies that you guys would recommend.  Thanks a lot!

Hi RE friends!

Does anyone have any Wholesalers they would recommend in the Kansas City area?  Any and all feedback is greatly appreciated.  Thank you!

@Gino Barbaro Thank you for the advice.  I listened to both of your episodes yesterday and they were extremely insightful and relative to what my friend, @Sean Edward O'Brien, and I are trying to accomplish through real estate.  I'd love to jump on a call with you sometime next week if you have a second since our goal is to accomplish what you and Jake have accomplished.  Thanks again for the advice on this post!

Hi Everyone!  My business partner and I are considering the idea of gathering money from investors (friends) to purchase a 12-24 unit apartment complex.  We aren't entirely sure how to go about structuring a contract for the investors that would explicitly lay out how much they'll be paid, if they'll own equity in the complex forever, how expenses work, etc.  Would anyone be willing to offer their insight into how best to approach this idea?  Would greatly appreciate any and all questions, comments and feedback.  Thank you all so much!!

Hi - I am about to pull the trigger on purchasing my first duplex in Kansas City.  Was wondering if anyone knew of any lenders or PM's in the area that they've had excellent experiences with.  Appreciate the help!!

Hi Everyone!  I am a recent graduate and have never purchased a piece of real estate.  Unfortunately, I live in a housing market that is more expensive than I can afford.  Because of this, I am thinking of purchasing a rental property in another state.  Couple questions:

1) My first choice right now is to purchase a rental property (ideally a duplex/triplex) in Kansas city because the rental property is hot and the property taxes are low.  Do you guys think this would be a good market to purchase in?

2) How do you go about hiring people to manage and rehab the property without actually living in the area?

Greatly appreciate all you wonderful peoples' feedback!

Thank you both very much for your responses. It seems like you both have the same idea of house-hacking, which I didn't really think of being an option because the LA market is so expensive. Is it possible to get an FHA loan on a duplex in which I live in one of the units? Also, is there any downside to using an FHA loan on my first property? Will this get me into trouble moving forward?