All Forum Posts by: Malcomb Stapel

 Welcome to the forum. I invest in Topeka also if you want to connect. 

What's low? 660 and above should qualify you for DSCR.

@Ed Hoffman  actually, you can transfer it via Quit Claim right there at the closing table before you leave the title company. In Topeka Kansas it costs $35, yours may vary. 

@Michael Lee what do you think the house would go for in the current market in current condition? I'm going to guess it's a lot more than $87k ? 

If you have good product (top 10% of market) or you have low inventory, you can usually generate a lot of interest by coming in a little under what you think it should sell for. Buyers who have been looking for any amount of time, and their agents, will recognize value and be hot to take a showing of your listing. This can lead to some highest and best offers and bidding wars. 

It sounds like you have already done the math on this one more than once. The questions I would have 

1. How much would the remodel cost? If you can finance the whole thing where does that put your monthly PITI? Can you increase rents after renovation, and, if so, how much?

2. Do you have an $800k property already targeted or are you just throwing that out there? 

@Ranveer Singh a wholesaling company for sure could benefit from that. I could also think of a few brokerages like New Western that might be interested if they are not already doing something like that. 

@Heather Luu  the first thing that comes to mind is if that check was from the insurance company or insurance company funds, it might be time to get them involved. They have a lot more resources to call on then you do. It could be looked at two ways, either they stole funds from the insurer or you inadvertently misappropriated funds from the insurer. Regardless, they probably need to be brought up to speed. 

@Miguel Del Mazo brilliant! I might have to set this up for our MTR's. 

@Evan T. Ong first off, congratulations on having yourself so well together at such a young age. Here is some food for thought. 

1. Expand your time horizons. Your post has a real hint of FOMO. You have a lot of time to get where you are going. Lets just say worst case scenario you spend your 20's working hard, living lean, and investing every extra dollar. You will still probably be retired in your early 30's. That's a win bud. 

2. Parents don't want you investing your money in real estate. Get a job now, see if they will do a custodial IRA as a compromise. Pump all of your extra money into that and pow, you are now investing at age 15. When you turn 18, it's now your IRA to do with as you please.

@Maurizio Pisciotta first step would be to narrow that target down as small as possible. Where are you investing, what asset class, how much do you have to invest. Second step goes, who funds it, who finds it, who fixes it, who manages it.