All Forum Posts by: Steve Kirsch

@Tim Swierczek Thank you for responding. I'll reach out. I do prefer to work with someone with similar interests and not a firm with a corporate mindset and looking to sell a product. Thanks again. 

Steve

@Jeff M. Hello, were you able to locate an advisor. I'm in the same boat and looking for someone to work with and assist in planning regarding both financial planning to increase my real estate investing portfolio as well as personal finance (IRA, 401K, child's college costs). If you could provide any contacts you may have successfully encountered?

Much thanks.

Steve

Hello BPland,

Is there a resource I can look into to review templates of a Promissory Note, Loan Agreement, etc. pertaining specifically to using a Private Money Lender for the purpose of covering the down payment and the rehab costs of a prop investment? Any samples I can check out to form my own template?

Thank you

Steve K 

Thank you all for your quick responses. Having extra cash flow each month will support my strategy for future doors. 

Steve 

Hey All,

Recently, one of my SFH mortgages have decreased by $100+ per month. Your thoughts on applying that directly to the principle to pay it down faster (I do not plan on keeping the property more than 10 years. Acquired just 2 1/2 years ago), or save keep building up the cash flow to use for future expenses and other aspects of the business?

Looking forward to your responses.

thanks.

Steve

@William Robison Thanks William. This helps. Being that I am looking at doors in the KC area, I have a "ball park" general starting point. I know the rehab cost will be project specific, but for initial forecast calculations, this will do. 

Also, are your contractors or handyman in house or do you typically sub the work out and do you use Project Managers to oversee the rehabs? I'm looking to building a team locally so when I have a viable property locked down, I can start the process relatively quickly.

Thanks again,

Steve K

@Manolo D. Thank you for your repsone. Much appreciated.

Thank you all for your great responses. I will provide more clarity toward the rehab details to get a better picture of what is to be done and by whom. In general I had hoped that there was a "Market Average" rate that could be used for analysis calculations to see if the property is worth diving into and researching before commiting. 

Thanks again...

Hey BPland,

Can I please have some feedback regarding what the current average cost is per sf for rehabing in the Kansas City, MO area? No structural repairs. Just int/ext paint, refinish hardwood floors, kitchen upgrades w/ cabinets, countertop and appliances.

Thank you....

Steve K

@Richie Thomas This is perfect. I'll send over viable HM lender prospects as I progress through my due diligence. 

Thank you 

Steve