All Forum Posts by: Laura H.

Welcome to BP!

Our first (and only, so far) rental property is in Nixa. We were just checking out the downtown area around Mother's and SBC last weekend. It sure has changed!

Looking forward to it!

Thanks, @Mike Vann! Looks like I'll be making a few more calls tomorrow...

Good tip, @Mindy Jensen! I was a little worried shopping around too much might impact my credit rating...

Thanks for the recommendations, @Brian Simmons - I'll reach out to them as well.

What exactly are your concerns? That they won't pay? That they'll tear up the place?

I agree that you need to put your trust in your PM. Has she rented to Section 8 tenants before? Feels like you should be asking *her* what sort of extra criteria she reviews for these tenants.

Thanks, all!

@Eric P. - No entity yet - not even LLC'd.

From what I've read, LLC-ing or forming a Corp wouldn't be beneficial at this point. Since we (husband and I) are refinancing anyway, I've been wondering if this might be a good time to do that...

I have a duplex in Nixa, Missouri (near Springfield) worth $140-150k with $38k left on the loan. Looking to refi and utilize that equity for our next multi-family property.* I live in the Kansas City area - that shouldn't make a difference, right?

So who do I call? My broker from my primary residence purchase? Local KC banks and credit unions? LendingTree.com?

Seems like 70% LTV is typical? Any thoughts of how to stretch that to 75-80%?

(*If you've seen me post about this before, you'll notice this plan is different than the "sell and start over" track I was taking a few weeks ago. We've been able to increase the rent, and have talked to the property management company about improvements. The numbers are starting to line up with what I'm looking to accomplish, so I figure it's better to stick with the devil we know, so to speak.)

Welcome @Brittany McConnell - both to BP and Lee's Summit!

We lived in Lee's Summit for about ten years before moving south to Peculiar. Love that town :o)

@Ian Reeves - What an inspiration! I'm also local to Kansas City. Gives me hope :o)