Closing on rentals #6 and #7 this week
This week i am looking forward to closing on additional rental properties
#6 (a SFR in South KC, recently renovated 3/1/1, $53k purchase $850 projected rent)
#7 (a SFR in Grandview MO, clean 3/1/1 basically more in ready $54k purchase $800 projected rent).
There are a few more in the pipeline. I overcame a potential roadblock by establishing relationship and getting approved by a smaller bank who makes portfolio loans.
Response to the two units has been pretty good after I posted them on a few sites. I have open houses scheduled this week, if I find a tenant before turning over to my property management company I will save the leasing commission (currently .75 monthly rent). My strategy so far has been to buy properties that don't need extensive repairs.
I have 4 out of the previous 5 rented out as of now. The remaining property is a Grandview duplex I've been working on light rehab and start showings this week.