All Forum Posts by: Nic S.

@Daniel Desrosiers check out Penner Property Management

@Ashley Turner just going off the information you provided but I believe your zoning only constitutes long-term rentals. I don’t see anything that constitutes short term rentals two house family dwellings apartments, etc. those are long-term rentals so the government doesn’t seem to be doing anything illegal, nor does it look like you are permitted to do what you’re doing. 

@Quaid Cde Baca I had this EXACT scenario happen to me in KCMO. I bought two duplexes in a C hood because they cash flowed well on paper.

Evictions, late rent, sob stories, turnovers, lawsuits it became too much to deal with OOS. I 1031’d into a much better hood and so thankful I did. C class tenants C class problems. It won’t stop. Cut your losses and think long term. You want to be in better hoods

@Steve T. Might sound drastic but I would give tenant a notice to vacate and start fresh. The trust is gone and they are acting without ethics. Best to cut ties now imo

@Ajay Kumar why do you want to Brrrr?

how do you feel about Railton Rd in 38111? Looking at a MSHB house for $159K renting for $1350....

For the record, I am consulting with my CPA currently who is doing the due diligence on this topic.

I purchased and placed a long term duplex in service in 2020. Does anybody know the rules on completing a cost segregation study for 2022 tax year on this property?

I understand that you must amend your previous tax returns, my wife is currently a real estate professional status.

I will be selling a SFH that will net $90k that will roll into a 1031 for a quadplex. The price of the quad is $525k. Is DSCR loan the most favorable product when I have 17% for down payment? Is there another loan product you like for this situation? I am a W2 employee but trying to avoid conventional loan as DTI may be too high (all RE debt).

@Paul Xiong what is the problem you are trying to solve?

@Matthew Wolk do you have a DSCR lender you have worked with and can recommend? I am looking to do one in KCMO on a quad