Kansas City Investor Considering Private Money

Kansas City Investor Considering Private Money

Investor · Independence, MO · Member since 2016 · 31 posts · 17 votes
Hi all! My wife and I are using the BRRRR method successfully with a pace of 1 house per month give or take for the past year. We used to flip to get money to buy rentals but the BRRRR method serves our company's goals much better. We have not yet used private money but believe we could do more with it. We are interested in using private money to fund the purchase price of the house which is usually 70-80 thousand and fund the rehab with our money. We usually have the whole process from buying to refinancing done in 3-4 months and have always got all our money back and then some. I know little about private money such as deal structures, avg rates, and finding individuals interested in such deals. I anxiously await your input!!
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  • Kansas City, MO · Member since 2008 · 143 posts · 41 votes
    10y

    Which areas of Kansas City are your deals in typically?  

    What is your all in costs (purchase plus rehab)?  

    What does the appraisal come back at?

    And lastly, what are the monthly rents?

    I may be able to help you find the right people.

  • Investor · Independence, MO · Member since 2016 · 31 posts · 17 votes
    10y
    We invest in Independence, specifically 64055,64057,64058. Our all in cost is usually 80-90 thousand. The appraisals come back between 120000-125000. Our rents are 925-1000 per month. The last house was a little bigger it was all in at 120000 and it appraised at 160000. We had it listed for 1250 per month but rented it for 1600 per month to a couple who's house exploded in a gas fire and insurance is paying extra because of the short 6 month lease.
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