All Forum Posts by: Marcello Oliveri

@Peter Stewart Hello BP family, I am looking at buying a 4 plex in the 46205 zip code Purchase price is $215k 4 plex: 2bed 1 bath each unit Year built: 1905 Utilities: Tenants pay all utilities Rents: Currently low at $550 each Main concerns: 1. What should rents be in that market? 2. Is that a great area or should I be avoiding it? ( high crime, transients, d class etc) 3. Is that a rapid growing area Is this a B, C or D class? Thank you BP family!

@Ryan Mullin Hi Ryan, I am looking at purchasing a 4 plex on Talbott St. Zip 46205, near 28th. Can you please help me out with this purchase. I have no idea about this area. Im working with a realtor who own Ethiosity Pm. He seems like a really cool and honest guy. Is this a great area to be buying in? I have tried to look up all the intel I can. It seems very nice Year built: 1905 Purchase price $215k Property: 4plex (2bed 1bath each unit) I have no idea what rents could be. Currently seem low at $550 each. Tenants pay all their own utilities. Main concerns 1. What should rents be if units are pretty standard 2. Am I buying in an area that’s bad (crime, bad tenants, etc) 3. Am I buying in an area that has no potential for appreciation? I am a cashflow only buyer but this seems like a nice area and have seen other units that are not as good selling for $300k+

@Janett Lewis Hi there Janett, I have also been looking at St. Louis. Do you have any zip codes or areas to buy and zips and areas to avoid. I have several properties in KCMO and One forum on BP had a list off what zips are good and what zips to avoid. It was extremely helpful when I purchased my properties. If you have any resources we would be grateful. St.Louis seems very good to me

@Brian Garlington Hey Brian I have been looking at Holton-Wise you tube videos and I really like the numbers they put out. Let me know if you end up buying anything from them. I am really interested in possibly purchasing a few properties.

@Mark Boek Hey Mark, how many properties do they manage and how long have you used them?

@Sam C. Hey Sam I’ve spoken to Kc home solutions and Premier. Both seemed very knowledgeable. I ended up staying with PM because I’m going through evictions. Although, I am not very happy. I didn’t want things to fall to the wasteside during this process. It was a very tough choice. We will see what happens.

Hey Deepak, I actually stayed with my PM for now. I listened to Mike. He’s very knowledgeable and I am going to take his advice. I did speak to KC home solutions and Premier. They both sounded very good.

@James Wise That’s suuuuucks! I could never manage properties. Idk how you do it. It’s worth it for me to pay the 6-8% for property management. What really sucks is when you see investors saying that about their property managers. Than you really know you have a problem. Some tenants will always complain. Not all but some

@Dave Clauson Good day Dave and everyone else. I am looking at buying a duplex in 64131 also. It’s not on Paseo. It’s on E 79th St. Near the academy of integrated arts (AFIA). Does anyone like this area or should I avoid? Thank you

@Linda Forrest Hey Linda, I would strongly consider what everyone is telling you. This property does not make any sense to buy. There is soooo many underlying expenses most people don’t realize when purchasing rentals. On top of what everyone is asking (taxes, insurance, PITI etc) you need to also hedge Incase potential hidden problems. Vacancy, management (unless you manage it), 8-10% for maintenance, 8-10% cap ex. Also, if you pay all utilities including water, sewer, trash lawn etc. I would strongly pass. Wait for a deal that covers all this and you still make positive cash flow of at least 12% cash on cash. This is in case the markets tumbles as in 2008. Then when you need to lower rents your mortgage will be covered and you can still have a little cashflow. Alot of people talk about theIr amazIng deals and never consIder any of these hIdden expenses. That’s how you get In trouble. Sorry :(...