All Forum Posts by: Michael` Cluer

That is interesting as I have an Arvest bank in my small town, I have never dealt with them before. I will look into this. Thx...on the mortgage broker, Would you search for Kansas city mortgage broker in the BP forums?

I should have 4 duplexes under contract today and am looking for some recommendations on lenders. I am well qualified but my local bank in NW Arkansas is concerned about the properties being so far away. I have contacted a commercial lender off of here but would rather try for a conventional loan being as this will be properties 3-6. Thx for any leads in advance

@Cliff H.

Thx for the heads up...I feel good that rent is actually lower right now currently. My PM agrees, I have also researched through rent on zillow and craigslist. I will allow the current tenants to keep rent as it is until a turn come's then raise after some updates. We have come to a deal and now await the inspection to move forward.

@Zach Quick Wholesaler while networking in the area I am wanting to invest in. No I have not seen anything but tax parcel pictures and google street view. I have seen leases on tenants and spreadsheets. I hired an inspector to do the due diligence and have contingencies based on appraisal and inspection.

@Zach Quick Thx for the insight

I will get the age on mechanicals and roof Tuesday, which may or may not end up in a amendment. I expect after talking to them that the cost's to get rent up during turn's may go between 2k and 5k, mostly because of updating anything in question to keep future expenses down. I may be in for a surprise but will know more after inspection is done. @5k x .02= 100 for an increase of $150 per door while lowering my cap ex and expense seems good to me. Cash out refi after 2 doors on the same duplex experience a turn. My original plan was to always buy at 70-80% all in ARV to keep my liquid rolling while accumulating my portfolio but I estimate I may have to leave 5-15 in on this one. I feel good about it. I may buy one in my Self Directed IRA to get it started.

Hello, I am a young new investor that has been messing with nightly rentals. This purchase will be my first buy and hold, as I have been wanting to BRRR for my investment strategy to get where I want to be in 2 years. I came across this deal and made an offer that I believe will be accepted so let me know what you think. It is 4 duplexes with 7 of the units occupied (2 with 7 and 9 year tenants) and the eighth needing some cosmetics. All tenants are MTM at this point which is good for me because the rent is at 400-425 per door, whereas my PM says that I could easily get 550 per door. I have decided to run the analysis at the current rent and have room for growth on the next turns. I have got taxes and insurance from actual numbers, along with estimates on expense and management fees from my PM. Cash-flow will be a little less because I will using a LOC for the down payment out of some land of mine, the calculator didnt have a 0%DP option. The area is blue collar suburban with an accredited school and low crime rate.

Hey man, after looking at your profile it look's like we are real close to the same boat. I am about to close on my first nightly in Branson and plan to expand. I am from Harrison, AR but work on the road in the oil and gas field. I want to transition home to run the rentals and farm. I hope we can learn from each other. Pm me or email and I could give you my number to share any knowledge. I have a descent amount of profit/loss sheet's just from calling everybody possible to get actual numbers.

I love that statement @Aaron Mazzrillo. I agree it is how much you want it and not to let your dreams fog your lens. Nothing come's easy but perseverance does pay off. I have learned this is my professional career and hope to apply it in my adventurous REI career.

I am looking for people that have experience in the c neighborhoods in KC. I am also looking for wholesalers to network with and develop a relationship with. Pm or comment thx

Hi, I've introduced myself and asked some advice for my other LLC in my first few post's. I have read thousand's of post's and listened to several of podcast before creating an account and attempting to network. I should have sooner but here I am. I am starting to invest in 2 market's and 2 different strategies, BRRR and vacation rental's. I am about to close on my first nightly in Branson, MO. I made a good buy there but am looking to get into SFH/MULTI in some KC area's and need to form a power team as I work on the road all the time. I would be willing to help out anyone with anything I have to offer. I have a short term goal and long term goal I would be willing to discuss with the right people. I'm looking for honest people with real success stories to just listen to and learn so I can fine tune my strategy into a single market area. I am interested in learning anything I can.

I am a 29 year old and from NW Arkansas and looking to get off the road in the next 2 year's.

My real estate experience and number breakdown.

I am from NW Arkansas.

#1  Home/40 acres initial purchase- loved the place- appraised 150k / paid 150k

#2  Land Purchase-242 acres appraised 230k / paid 135k

Both these in my personal account at my local bank

#3 3br 3bath condo appraisal 100k / purchase 85k / 15k furnishings and update/ ARV 130k

I close in 2 week's and my cash-flow analysis after i cashout refi to get my cash back is estimated to gross 23k/net 6-7.5k annually

This is where I am at and looking to get my other LLC started on the BRRR strategy to build wealth and have chosen Kansas City as my target.

Please add me/message me/comment/network I am young driven and all ears at this point. I have a good job to get the slingshotted along with some great equity to work with. Thx for your time