All Forum Posts by: Rich Kniss

The reason the slabs may be a concern is that the potential for the  soil to heave and crack from the clay in it.  It's fairly common in KC. A crawl space gives some separation from the floor above, so movement can happen.

I agree with @David Cruice on the scoping of lines. It could be a pricy mistake if you don't. Overland Park in general is not that old, so I don't think you will see cracked cast iron pipe too much. It happens more in the urban areas that are older.

I'd be more nervous about a crawl space built with concrete block.

@Grant Stafford, welcome to BP! You'll find a lot of good information and people on this site. Please tell us more about yourself in your profile, so we know how you might fit in with our investment path. 

Rich

@Annette Steele, are you asking about new construction costs or renovations? Commercial apartments are done around $110 - $140/S.F. for low rise products, but they have scale working for them. I haven't done a new-build yet, but anticipate it to be higher by about $25 to $50/S.F. For renovations, I usually plan on $15K to $35k for a 1,000 to 1,200 s.f. single family residence.

Hope that helps.

Rich

@Geoff Cavender, I would start with the small business administration. They have lots of good things on their site you may need. Developing an operating agreement for the LLC will help establish the basis of your business, including capital contributions (HELOC, Loan). A business plan is a worthwhile effort, because it helps you understand what you don't have figured out yet and other team members you will need.

Happy to answer any specific questions, just PM me.

Rich

@Benjamin Riehle, great question!  I think some of the developers got it right (on Faxon and Bancroft). 

I'd do some thing similar, but try to activate the lower level in a more pedestrian approach. It could be a stacked live/work unit, neighborhood association meeting space, or coffee shop. I'd focus on safe and secure living with adequate parking, based on the locations. I would include an outdoor amenity space for residents like outdoor living rooms, fire pit, BBQ area, rooftop terrace, etc. I would include an affordable housing component, because its the right thing to do.

I can't wait to hear what others have in mind. 

I'm with @Lee Ripma. NREIG is who we use. 

I talked to another company called Arcana, based out of Dallas, at the last REI meeting who had some surprisingly low rates, but have not checked them out personally.

Bitumen roofing is a good system (particularly mod bit roofs). The reason it is so old is because it lasted a long time. Usually 20-25 years. When replacing, I would avoid single ply roofs such as TPO or EPDM (rubber). They will be cheaper first cost, but will not last more than 10-15 years.

Get a roofing company up to get an idea of repairs and replacement costs. Make a decision from there.  I'd plan on replacing it personally to avoid a future headache.

@KJ Miller, I agree with @Mike D'Arrigo that Ruskin Heights is worth staying away from, in particular the "curvey" streets, as I call them. However,  I think there are other areas just outside of Ruskin Heights that have some potential, based on my recent tour of the area, but it is street by street. Look at Trulia crime maps and stay in the lighter crime areas if that is the kind of neighborhood you need to start in.

@Rob Bianco, we get some pretty good storms in KC, and hail is fairly common. If it were me, I'd rather have the comfort of the lower deductible for $144/year. 

If you divide $1,500 (deductible difference) by the yearly amount of $144, you could enjoy the lower deductible for 10 years, and I think you might get a claim once a decade. Just a different way of thinking about it.

REIGuard is who we use for insurance.

@Chris Modzeleski, PM me for a contact.