All Forum Posts by: Micah Thomas

@Alex Bekeza private money. We borrowed $125k at 8% interest, 2% origination for 6 months. No personal money in the deal, including interest only payments and origination which just came out of the total amount borrowed. You got anything similar? ;-) 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000
Cash invested: $60,000
Sale price: $177,000

Purchased a run down rental off MLS and made it amazing!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $180,000
Cash invested: $20,000

Not your typical duplex, this is a 1920 2 bed 1 bath farmhouse with a small attached 1 bed / 1 bath guest cottage. For now, the farmhouse is a standard rental at $1,150 per month, and the cottage is being completely remodeled to become a short term rental and pull about $1,500 a month if it's at 80% occupancy.

Investment Info:

Single-family residence buy & hold investment in Overland Park.

Purchase price: $130,000
Cash invested: $7,500

Purchased just as the market was starting to come back in 2014. It was a failed flip and had sat on the market. Since then, downtown OP has exploded with growth and new development. I refinanced to a 15 year in the fall of 2019 and the appraisal was $230,000. $100,000 of appreciation in 5 years!

Investment Info:

Single-family residence buy & hold investment in Kansas City.

Purchase price: $150,000
Cash invested: $10,000

This was my first purchase back in 2007 as the market was crashing! Still worked out great. It has been a roommate house for 12 years, attracts young professionals, and has never had a month of vacancy. 5 or 6 bed, 2 bath, about 2500 SF.

Thanks @Logan Freeman! @Rachel Chavez and @Emily Hill please let me know if you'd like to jump on a call and/or discuss more specifically what your criteria is.

@Chad Green I was in a similar situation with a fourplex I listed and sold it easily via the Facebook investor groups and the BP marketplace. Between the two I think you'll find you are reaching most active investors in the KC area. 

Thanks @Logan Freeman! Ashley I got your colleague request, I'd be happy to talk further and find our more about your desired areas and goals. 

Whoops, sorry @Hadar Orkibi I meant to tag @Andrew Hartley who was asking the original question about Olathe. My bad!

@Hadar Orkibi a lot of the investors I am working for are finding 1% properties in the KU med area. I think Johnson county demand is stretching beyond what makes a good investment property as owner-occupant buyers are driving prices higher. However in Wyandotte and specifically the KU med area, the competition isn't there as much from owner occupant buyers and the prices are more reasonable. I know that doesn't help you if you don't want to venture out of JoCo though. :-) Probably the only way to get there in JoCo is buying distressed and improving to rental grade. Have you tried that at all?