Hi everyone,I'm in the market to buy a quadriplex in the Kansas City area, priced at $450,000.

As supply increases, demand decreases, which can eventually lead to lower prices if done on a large enough scale.Unfortunately, many people outside our industry don’t fully understand this.

Get as much understanding and disclosure as possible on the closing fees and escrows that will show up on the settlement statement - including stuff like prepaid interest ("stub interest"), tand and insurance escrow holdbacks, etc - biggest pitfalls we've seen are people not 1000% clear and aware of these things then getting very negatively surprised at the day of signing 

Quote from @Kathleen Park: I recommend you educate yourself on "ordinary wear-and-tear" vs damages, depreciation, and your state laws.Do yourself a favor: buy "Every Landlord's Legal Guide" by NOLO.

Is the opportunity still there for new people?

Purchase price: $130,000 Cash invested: $150,000 A buy, fix, refi and hold - after refi, we were $30k into the house.

I don't plan on buying for another 8 months or more and I don't want them to think I'm just wasting their time but I do want to start seeing which agents will understand my goals and see what kind of opportunities each will send.I'm also trying to figure out if there is a minimum number of units I would need to work with a PM and how to find one?

@Hansel Barretono, you buy the 4 plex with a low money down loan, and live in 1 unitisn't supposed to cash flow, just offsets your mortgage with the rentsbut of course you can even rent out the rooms in your unit and sleep in the basement or on a couch or whatever

It often feels like either selling high and buying high, or selling low and buying low.

It sucks because Lonnie was a pioneer with his taking back notes on mobile homes and being a Lonnie dealer inside other peoples parks.