All Forum Posts by: Vee K.

@Yolanda Martinez , welcome to BP. Have you used the calculator available to you as a Pro member on BP? You should start there as it as pretty much all the information you need to punch in. If you still second guess your work, perhaps you could share those numbers you put in with everyone so we can double check for you.

@Brandon Capelle , I have the same situation. I was lucky to have one empty unit and one lease renewal around the same time. So, I told the tenants that I would cover water up to $x then I will send them an invoice each for 50% of the rest. 

i.e. Water bill is $200 and you agree to pay $50. You can invoice them for $75 each month.

@Olivia Ingram , welcome to BP. I'd suggest that you start reading, listening to BP blogs and Podcasts. This forum has more than enough information for you to get started. Then when you run into any specific question, you can post them on here for everyone to chime in. 

Just wondering if we could add a tab for the people that we want to stay away from as well. 

Perhaps you could go to a local REIA, network with flippers in town, then ask to see if you could shadow them on their deals.

So, without knowing how hot that market is, just a complete crapshoot, usually you start at 70% of the ARV minus the needed repairs. Hot market, you could adjust up from 70%, slow market adjust down. As for the repairs, since you don't know, just put a big number.

What's your strategy? Do you want to use that $40k as down payment on properties or pay cash? In KC, you should be able to buy a house straight up with that amount of cash. Or you could spread that out to different properties. 

Before you close on the property, it's not yours. So, even when you have access to the property, the only thing I'd suggest is to clean up the property. Don't do anything on someone else's property.

Have you considered getting a private money loan? Your interest is going to be really high. However, if your goal is to have an alternative to bank financing, that's one way to go.