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All Forum Posts by: Sam Kasa

Sam Kasa has started 3 posts and replied 8 times.

Post: Looking to connect w- New Multi-family development

Sam KasaPosted
  • Shawnee Mission, KS
  • Posts 11
  • Votes 0
Hi all - If you have gone thru a new multi-family unit development in Kansas City metro, I'm looking to connect for some help/guidance.

Thanks!!

Post: Kansas City - Brookside rental prices

Sam KasaPosted
  • Shawnee Mission, KS
  • Posts 11
  • Votes 0

Off-topic - have been curious why someone who can afford such high rent not buy something for themselves? 

Hi Guifre - can you provide some insight on who the investment lenders are and where I can find them? This particular bank is a small private bank that was introduced to us by a business sales broker few years back. They usually do SBA loans but seems to be open to lending for income generating real-estate purchase. We were initially thinking of buying the 4-plex for cash but then thought we have to start somewhere to build a relationship. Hence taking this route.

Got it. Thank you. The banker did get back to me saying the same. I have three other properties with 50% ownership but because its traditional mortgage, it shows up 100% on mine and my partner's credit. This is something we are trying to avoid as well as establish a relationship with the bank for future deals. 

We just formed a LLC with 5 members with 100K each with intention of applying for 2M loan. There is a bank that seems to be willing based on personal guarantees - asking each member to fill out PFS. The loan is going to be in LLC's name. Anyone know if this loan will show up on each member's credit history as 2M liability each?

Thank you all for your inputs. With the info I got from this thread, I now know where to start. I very much appreciate the time you took to respond to my rookie question. Eric T./Jordon B. - Thank you for your offer to help, will definitely reach out to you when I have more firm footing on this project. 

I do not have any info on how to go about this therefore I'm here to do my homework. I do have an area in mind as I had looked at buying an existing multiplex there but backed out due to bad pricing. Based on that experience, it seemed like its just better to go about building a new one according to the specs of current housing trends and get maximum rent for the square footage. Besides Cap-rate, I'm also counting on the growth of this particular area and appreciation of the house price 10-15 years down the lane. As far as financing, I do have a pool of friends willing to chip in along with my own. 

So looks like I need to reach out to the city to find out zoning laws in the area - does this mean that I need to have a plot in mind beforehand? How do I go about finding a builder to get an estimate?

Hi - I currently rent two single family homes in Overland Park area. I am now interested in buying land and developing new 4-Plex units. Depending on the cost, I would like to start with 2 units and later build more as the space/budget allows. What are some of the things that I would need to consider before heading out to buy the land? Are there City ordinances/zoning laws that can keep me from building multiplex units? If you have any experience with this, any advice is very much appreciated. Thank you!!