All Forum Posts by: Sean R.

Andrew as a veteran if you are entitled to a VA loan, you can use that to get a good deal on a house as a buy and hold, that is rent ready and..., provided it cash flows well, and is poised for appreciation, your outlay (down payment) with a VA loan, should be so minimal that you should still have sufficient funds in reserve to watch your investment grow while you continue to save plus benefit from the principal pay down, direct and indirect tax benefits

you could also try using a "credit partner" to obtain financing. I have never personally done it but there are people that I know of that have done it in order to secure financing

is this property still available?

Hi Haim,

I got your message, sorry I wasn't able to respond back on email. This does not fit the criterior. thank you though.

This is not as rent ready as I would have expected it to be.

Hi Haim,

is this still available? 

also, the property is occupied by whom exactly? present owner?

$20-25k is estimated to cover what repairs exactly? just want to get an idea of your thoughts? 20-25k seems alot for minor cosmetic work.

talk soon

Sean 

SFR (as is)priced at $37,500.

INCOME

rents estimate $9k annually.

EXPENSES

prop taxes $575 annually.

prop insurance $720.

 prop management fees $ 900 annually.

 estimated vacancy rat at 7% or $630 annually.

capital expenditure at 10% or $900 annually

NOI =$5275

CAP RATE = $5275/ $37,500 = .14

There will be an additional $7,500 needed for repairs, so factoring that in the CPA RATE would drop to  $5275 / $45,000 = .11

so far as I can suffice the numbers are ok, my question is, is this area in KCMO decent enough to invest in? I've heard mixed things so far about Ruskin KCMO

or if Ive miscalculated I would appreciate your input.

A deal came across my table for a SFR 4 bed 2 bath w/ a cap rate of cash flow of 13% annually in the Ruskin area with a purchase price of $37,500.

Are there any seasoned investors in the kcmo are that would consider offering some advice? just looking for some insight in regards to the neighborhood. The area is located in the Ruskin area. any thoughts? good vs bad neighborhood?

Hi guys, there's a company called bankers health care group, bhg that provides personal/ biz loans to professionals in the healthcare industry. I'm not sure of their specific rates and i have never taken a loan from them.

They also offer credit cards personal and a business credit card that does not report on your personal credit history , so for whatever reason you need to carry a balance for an extended period of time you can put it on your biz credit card wihout it affecting your personal credit. ithink the same is true of the loans.

Let me know if you'd like to find out more, I can forward you some of the info I have on them or you can Google it.

I'm in no way affiliated with them but I did get the credit cards and a couple of my colleagues that I work with also got them.

Nice tool in terms of funding to add to the arsenal.

: )

perfect. thx for reaching out. ill definitely take a look at it. thx Michael

Hi everyone,

New to bigger pockets, taking a minute to introduce myself. My names Sean I'm from NYC and looking to learn more about real estate investing and to network with others, hopefully I could add value to members of this community as well. thank you everyone for allowing me to be part of this community