All Forum Posts by: Pramod Prasad

Thank you - given this was my first property I did opt for every single thing on the insurance and looks like I will get covered for this. I just am not 100% sure if I should change my property manager. 

Hi All - 

I bought my first property in KC, and have gone on to purchase a few more in other locations over the year. This first one is my problem child. 

I had issues with the tenant and we went through a long eviction process. At the end, when the tenant was evicted the property manager informed me that property has serious damage. The water heater, appliances, hvac systems have all been ripped out. Now, I find that a little surprising. Does anyone have this happen to them as part of an eviction? Unclear to me how a tenant can do this so professionally. MAybe I am reading too much into this, but I find my property manager is not being entirely truthful. 

Hi BP team, 

Just purchased my first property in the Jacksonville area. Does anyone know an real estate attorney that i can use to do a QCD to transfer title to my LLC? Apologies if this has been asked and answered in another forum. Looking for an attorney urgently.

Hi members,

Would like your insight on how long an eviction process takes in KC? I use a PM company and they began the eviction process for the tenant in late July. Now there have been 3 court hearings and each time the tenant gets a new hearing pushing things back by a month. Asking if this is usual in KC and nothing fishy going on. 

Hi all,

I am in the process of purchasing my first property from a Turnkey provider and the appraisal came in 16% ($26K) lower. The property is in Kansas City. I understand it is a buyer's market currently. What options do I have as a buyer here? 

I am ok to pay marginally over appraised value but a good $26K is just way too much. 

Thank you all! Your responses have been super helpful for me and also thanks for putting me in touch with other lenders. I have heard that the Biggerpockets community is a very supportive forum but this is the first time I am seeing it in action personally - definitely very impressed and thankful for all the suggestions and comments here.

Team,

Just getting started with real estate investing and getting my first property under contract. I did a pre-qualification with a lender who provided me a rate once the property was finalized. 

The property value is $160,000 (in Kansas City). I am doing 25% down and the lender is offering a 7.625% (no points) interest for the loan amount. I find this to be higher than what I see in the market - I intend to shop around for other rates. For additional context, I have excellent credit score (770+), zero debt, savings/assets >$500,000, and have been in my same company for 4+ years.

Question for the forum:

1. Any advice on what interest rates to expect? I need to know if this lender is taking me for a ride! 

2. Any recommendations for lenders? I am not local to KC, so my other option is to look at one of the larger banks (Chase, Bank of America) or a national mortgage lender like Rocket, etc. Any thoughts on this please?