All Forum Posts by: Rodney Buford

Thank you, I will be in touch.

Matt,

May give you a call about this property. Looking to do a BRRRR, only concern is the neighborhood

Polly is this still available?

Let me know if the duplex is still available

@Mike D'Arrigo Thank you so much, I may reach out to as I have seen you have property here in K.C. so would love to pick your brain. Definitely will look up the Missouri REI club.

@Matt K. I appreciate your feedback and advice, I am trying to soak it all up and learn from my past mistakes

@Account Closed I think I know some of my mistakes and will list a few here in hopes someone will learn from my mistakes

Mistakes:

• My Biggest Mistake - I let my emotions get the better of me.  What I mean is I was excited to close our deal on the duplexes and I made the numbers work!!!!  (ie. cut back on % reserved for minor expenses and ZERO for capital expenses, didn't allow enough for vacancies, etc...)  I made the #'s work in order to tell myself it was a good deal.
• Partners can be good and bad.  I had two other partners on this deal and those two became enemies which caused this venture to go south and they both wanted out.  I still thinking finding a partner or private investor is very doable just have a bad taste in my mouth right now.
• Didn't do routine unit inspections just to make sure things were being maintained

Thanks,

Rodney Buford

Just wanted to introduce myself, I am Rodney Buford and I am from Lee's Summit, Missouri which is a suburb of Kansas City.  I have some past experience in Real Estate but unfortunately not good experiences thus far.  Previous experience went in with some partners on 9 units (4.5 duplexes).  They managed the finances and I took care of the property management for many years.  Long story short, we sold just recently and lost money because they wanted out and we did a poor job of running numbers when we bought them.  I am licking my wounds but ready to get back on the horse, I am really hopefully I can learn lots more on bigger pockets and try make another go at this on my own.

I am hoping to get some advice on how to get back started looking for SFH or duplex. Hoping to get to some local events around K.C. as well.

Thanks for your time,

Rodney B.