All Forum Posts by: Matthew G.

I've got a few deals under my belt, and would like to do further business under a LLC instead of my name and set up a business account to better keep track of profits (and expenses).

Does anyone have a good accountant/lawyer in Kansas City to set up LLCs for my wholesale business, and to hold rental properties?

Also can anyone recommend a good investor friendly bank in the Kansas City area? It will probably be a local bank or credit union. I would like to find a lender that holds their loans in portfolio and offers investor loans to LLCs (up to around 75-80% LTV). Also open business checking/credit.

Hoping for some good Keyword Alert help here. Thanks!

 Thanks for the tip Daniel. I will definitely check him out. I would like a few other contacts to try out as well if anyone else knows of some inspections in the KC area.

A great way to find buyers is calling Bandit Signs in the specific area you want to invest. Write down the phone numbers and call them. If they aren't a wholesalers, they may know buyers in the area. At worst you have contacts in the area.

I am a wholesaler in KC. You can see my contact info in my profile.

Anyone have a good investor friendly inspector they can recommend? Specifically one that would be willing to work in the Northland? Thanks!

Thanks @wayne, that is the way that I'm leaning. I feel much better about asking the buyer to take it as is than asking the buyer to take a lower price

Thank you @Michael C.  @Russell Ponce and @Curt Davis for the helpful responses. It definitely gives me something to think about. 

It is a cash buyer, and we included an inspection contingency. We won't be able to close until mid August due to the legal issues, so I didn't have a problem with the contingency. I figured I could get another buyer if they choose to back out of the assignment. 

I feel my ARV is good, even though the buyer is insisting that it's too high. If anything, my ARV is low. There are several sales above my ARV within the same neighborhood that are very comparable to the house after repairs.

The repairs would be the only place I am off, and to be fair the issues the buyer is pointing out are structural that I did not know about (cracks under carpet and other unseen issues).

Thanks, that is what I was thinking as far as the contract goes. I am definitely still in contact with the seller (there are some legal issues we are working through). I have asked for some inspection reports to support the price reduction.

Do you know if it's possible to reduce the assignment fee? I don't want the deal to fall through if the seller decides they don't want to lower the price any more.

 have my first deal under contract. The buyer that I assigned the contract to had an inspection done and is asking for a lower purchase price. My questions are:

1. How would I lower the price? Just an amendment to the assignment agreement?

2. If I/we go back to the original seller, who would sign that amendment? Myself, or the Buyer that I assigned the contract to since I have assigned that contract?

3. Is it standard to lower the price like this? I feel like my price is still a pretty good deal, but I would be willing to work on the price a little. The buyer knows what my assignment fee is on the deal, so they know I will be making a decent amount of money, and therefore they likely want a larger chunk of the money. But I also realize that there is some work to be done I did not originally anticipate. I want to be ethical, but don't want to hand away money here for free since they know my assignment fee.

Any feedback would be greatly appreciated! Thank you.

This spacious home has a lot of potential, and is located on a cul-de-sac in a nice quiet neighborhood in North Kansas City, Missouri. The sellers started their own rehab project, but life events have forced them to sell the home before completing all the work. A full cosmetic rehab is still needed. The house needs some dry-wall work, as well as the kitchen and bathrooms getting updated.

Price: $113,000
ARV: $195,000
Est. Repairs: $34,100
Est. Hold/Other Costs: $21,158
Projected Profit: $26,742

For more information and pictures, please see my website:

http://bootsproperties.com/listings/9804-n-harrison-drive/

Send me an email or direct message and I can provide the comps used for the ARV, and answer any questions you may have.

Looking to close fast.