All Forum Posts by: Quinten Sepe

Hey, @Michael Ryland.
KC is a great market. Get to it and start that perpetual motion machine on up!
Here's a blog post I wrote on the KC area:
https://www.biggerpockets.com/blogs/9877/62959-new...
Hope it helps. Let me know if you have any questions.
I also host a casual monthly meetup for the KC area with a few other super cool local investors.
Make it a point to join us if you're ever in town.
-Q

April! The plot thickens...

I know what you're thinking...wait...Parkville?

Hear me out.

You know them, you love them, @Michelle Lutz and @Dan Krupa (who I can't tag) are bringing the awesome converstaion to our Northland neighbors.

In order to help promote the success of their first gathering, I am encouraging everyone to join in.
I plan to be in attendance and hope to see you there!

Nick and Jake's
6325 Lewis St
Parkville, MO 64152
Thursday, April 12th
7:30 PM

We will resume our normally scheduled monthly shenanigans in South/Central KC, next month.

Come join some of your fellow Kansas Citians for a lively discussion on Kansas City https://www.facebook.com/groups/BPInvestorsGroupKC...

@Ali Zantout I run a monthly meetup, with a few other guys, for investors in the area.

If you're looking for something with a formal agenda and a sales pitch, we're not your group.

But, if you're down for just casually hanging out at a local bar/restaurant, sharing conversation with like minded folks, feel free to join.

We will be joining the a group of folks closer to the Northland this month, at Nick and Jake's in Parkville 7:30 PM.
(though our monthly meetups are usually in the Waldo/Westport area)
Anyone and everyone is welcome!

-Q

Accepted an offer at asking today. (215k) Thought I'd pop in and offer everyone an update.

-Q

Hey All,

Thanks for the feedback!
The meeting went well. Listing goes live next week!

215k asking

Thanks for the reply, @Dave Foster and @Jay Helms

Jay, I know I didn't mention it, but our buy and hold strategy is multi-family.
Ironically, we didn't buy this SFH with investing in mind, it has just worked out in our favor.

As I have been coming to terms with selling being a very viable option, I have reminded myself that though we are holding it, and it does cash flow, it doesn't necessarily fit our 'model'

I have spoken with my realtor and we are meeting on Friday to build a strategy and get it listed.
Trying to 'lean in' to this one and stay focused on our 'why'

@Antoine Martel and @Cody Noblin

Thanks for the reply, guys!

Cody,
1031 is an awesome option available to us as REIs. No doubt about that!
However, if my understanding is correct, we could actually sell, without the time constraint and rules of a 1031 and still not have to pay taxes on the event, because of the fact we occupied the property as our primary residence two out of the past five years.

Hey, BP collective. I'm looking for some advice on my situation.

Said situation: 

My wife and I own a SFH, that we bought in 2015, before we got into real estate investing.
We've since moved out and now rent out the property.

It is in an area that has appreciated rapidly and is extremely desirable for tenants.

Some facts (as of now):

The property cash flows.
We occupied it as a primary residence two out of the past five years.
We can command strong rents and have a very healthy tenant pool.

Some numbers:

Based on the comps, I believe we could sell for north of 200k (let's say 210k for the sake of math)
We purchased the property for 130k and currently owe 117k
The mortgage, all in (PMI included) is about $970
The rent is currently $1625/month (tenants now on month to month)

Our strategy is really buy and hold. However, I don't want to operate blind to opportunity.

We're just past the one year owner occupant requirement in our duplex hack.
Of which both sides will be renovated and ready for tenants in the next few months.

We're ready for our next property and would like to do one more hack before buying pure investment from the onset.

I don't want to kill our cash cow, but I can't ignore the fact that selling at a peak could put us in a position to grow our cash cow heard.

What are your thoughts?

Thank you in advance,
-Q

Hey, BP collective. I'm looking for some advice on my situation.

Said situation: My wife and I own a SFH, that we bought in 2015, before we got into real estate investing.

It is in an area that has appreciated rapidly and is extremely desirable for tenants.

Some facts (as of now): 

The property cash flows. 
We occupied it as a primary residence two out of the past five years.
We can command strong rents and have a very healthy tenant pool.

Some numbers: 

Based on the comps, I believe we could sell for north of 200k (let's say 210k for the sake of math)
We purchased the property for 130k and currently owe 117k
The mortgage, all in (PMI included) is about $970
The rent is currently $1625/month (now on month to month)

Our strategy is really buy and hold. However, I don't want to operate blind to opportunity.

We're just past the one year owner occupant requirement in our duplex hack.
Of which both sides will be renovated and ready for tenants in the next few months.

We're ready for our next property and would like to do one more hack before buying pure investment from the onset.

I don't want to kill our cash cow, but I can't ignore the fact that selling at a peak could put us in a position to grow our cash cow heard.

What are your thoughts?

Thank you in advance, -Q