All Forum Posts by: Shawn S.

I can't speak for the other gentlemen. I was born on the Missouri side of KC, and raised in Johnson County. My family still lives in Shawnee so we get to visit often. The Kansas side to me just seems much harder to make a go of it as an investor. Prices are higher and rents don't typically seem to keep pace with them. Property taxes are higher as well eating into profits.

On call, but not on site. So the roof, siding, lawn, etc, would all be covered by the HOA.

Yes, they do make them. I was swimming one day and wondered if the technology was there. I first looked into a bluetooth underwater device for my iphone but those are not quite ready yet. I was pleased to find an ipod that would go underwater for $140.00 which seemed pretty good. It has made swimming so much more enjoyable.

The quality of the 2nd show was still good I thought, even underwater:) Pleased to know it will only get better.

@Joshua Dorkin

I tried to include Brandon on here too and was unable to, but I wanted you guys to know something. I have had some ankle issues for about a year now making running, etc hard. So I got back into swimming laps about 3 months ago. I bought a Waterproof Ipod Shuffle and have been listening to music, PTI, Around the Horn, etc. Recently it struck me to download BP Podcasts, so today for the first time I listened to your 2nd episode and must say I really enjoyed it and it made the time fly by. It is much more enjoyable to listen and learn than to just stare at the bottom of the pool. I have enough to last me for quite some time so keep making them so I never run out, thanks. Anyway, please let Brandon know as well, thought you guys may get a kick out of that. See what I did there?

So when you figure your monthy maintenance amount on properties of say 10 percent of rent or whatever, how much do you reduce that figure by when you are considering an HOA where all outside issues are covered by your HOA fees?

I was raised there so have some connections. We have traveled, but most of what we do is with a team. My brother is a mortgage banker, his good friend is a PM, and the PM's wife is a RE agent. Then I've made further connections from there. It seems to just snowball if you can find the right person to get it going.

So after calling the HOA manager I found out that the property HOA fees are actually $192.50 and the owner must pay the 15-20 buck sewage bill each month and that bill can't be sent to anyone but the owner by the county. The manager said he has had several conversations with the listing agents company about how they need to get their facts straight concerning the correct HOA fees as it is based on the number of bedrooms. If I had known this I would not have paid over 300 bucks for the inspection. Other than letting the agency know, is there anything I can do about them giving faulty details in the listings of the HOA fees?

Thanks you two. We are looking into the HOA, to see when the roof on the complex was last put on and what plans they have in the future to put one on. As I understand it, this should not cost us money, the HOA funds are supposed to pay for it. And the more I think about it, the only way we can get this place would be if the seller took care of the new heating unit. As for the place in Fall River, thanks for sending that over. I'm actually intrigued. Though so far we invest only in Kansas City where I'm from since the property taxes here are pretty crazy hard on cash flow. Still intriguing however.

We had an offer accepted the other day on a townhouse listed at 45k. It was fully flipped just a couple of years ago and the inside is in great shape. We would be buying from the owner who bought the flip and have had to move out of state. We offered 42.5 and seller will be paying 2 percent of closing costs. The downsides are the furnace is 30 years old and will need to be replaced soon and the roof appears to be in pretty bad shape. But other than the new furnace other costs will be minimal. First, what are the due diligence aspects of buying a place with an HOA?

Here are some other numbers.

Purchase Price $42.500

Mortgage $190

Vacancy $68

Cleaning and Maint $45 Is this low? Made it less than my sfh.

Insurance $42

PM $85

Taxes $46

HOA fees $150.00

Rent $850 figured a bit low

Comes out to a cash flow of $224

Welcome to BP, KC Mo is where we currently invest.