Topeka, Kansas real estate investing

Topeka, Kansas
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Topeka, Kansas real estate investing

Max Edward Connelly
Member since 2025 · 5 posts · 3 votes

Hello Everyone.

I am looking to start my real estate portfolio. I am interested in buying a multi-family apartment complex. I am looking for any and all advice and some coaching. I would really like to find someone interested in doing some mentorship. I am new to the real estate world, but I am not new to hard work and making things happen. I have been doing a lot of research but still have a lot of questions I would like to run by someone that has some knowledge about commercial/multi-family real estate. 

Thanks! looking forward to being part of this community.

Max Connelly

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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
1y

Welcome. Look up Michael Blank and apartment investing together and you will find a great resource who is giving a ton of info away from free on how to start in apartments.

[email protected]Podcast Guest on Show #667
Zen and the Art of Real Estate Investing59 Reviews
WebsiteView Page
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  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    1y

    Welcome. Look up Michael Blank and apartment investing together and you will find a great resource who is giving a ton of info away from free on how to start in apartments.

    [email protected]Podcast Guest on Show #667
    Zen and the Art of Real Estate Investing59 Reviews
    WebsiteView Page
    1Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 726 votes
    1y
    Quote from @Max Edward Connelly:

    Hello Everyone.

    I am looking to start my real estate portfolio. I am interested in buying a multi-family apartment complex. I am looking for any and all advice and some coaching. I would really like to find someone interested in doing some mentorship. I am new to the real estate world, but I am not new to hard work and making things happen. I have been doing a lot of research but still have a lot of questions I would like to run by someone that has some knowledge about commercial/multi-family real estate. 

    Thanks! looking forward to being part of this community.

    Max Connelly

    Hey @Max Edward Connelly, welcome to the BP Forum! How many units are you targeting for your first acquisition? I'm assuming you're looking to acquire something in the Topeka area? What is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?

    [email protected]
    0Reply
  • Max Edward Connelly
    OP
    Member since 2025 · 5 posts · 3 votes
    1y

    Hey Jaycee. Thanks for the welcome! I would like to acquire a 15 unit or so apartment. I am looking for something in the Topeka area. I am kind of flexible on price point, something under a million for sure. The lower the price the more I would be willing to do some fixing up. I found a really nice brick building with 12 apartments, 3 commercial business units and some garages. I like the location and the price is 650k

    1Reply
  • Max Edward Connelly
    OP
    Member since 2025 · 5 posts · 3 votes
    1y

    Thanks Jonathon Greene. I will look into that.

    0Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 726 votes
    1y
    Quote from @Max Edward Connelly:

    Hey Jaycee. Thanks for the welcome! I would like to acquire a 15 unit or so apartment. I am looking for something in the Topeka area. I am kind of flexible on price point, something under a million for sure. The lower the price the more I would be willing to do some fixing up. I found a really nice brick building with 12 apartments, 3 commercial business units and some garages. I like the location and the price is 650k

    For mixed use properties as you describe (and I'd assume is located on SW 10th St.), I'd recommend that the residential units fully cash flow the loan as my experience is that mixed use properties are tougher to finance as most lenders tend to prefer one or the other and something in the middle gets more difficult.

    For example, and granted I don't know anything about the area/neighborhood, I would expect this property (https://www.realtor.com/realestateandhomes-detail/111-NW-Har...) to be easier to finance than the mixed-use property you mentioned.

    [email protected]
    0Reply
  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    1y

    You came to the right place, Max! This is a great place to learn and to connect with people so take advantage of all the great resources.

    -Julio

    561-253-6640
    0Reply
  • John RinggoldBusiness Member
    Real Estate Agent · Topeka Kansas · Member since 2020 · 79 posts · 47 votes
    1y

    Good morning Max!  As a local investor and Realtor here in Topeka, I keep a good pulse on the properties available in Topeka.  I own one multifamily property (6 units) and a few duplexes and single family homes.  I'd love to connect, maybe over coffee in the next few weeks and discuss Topeka investing!  You also may be interested in joining our Topeka Investor meetup which is held on the 4th Wednesday of each month!

    Let's connect!

    [email protected]785-806-2711
    Team Ringgold @ KW One Legacy Partners4.8154 Reviews
    WebsiteView Page
    0Reply
  • River SavaPro Member
    Lender · USA · Member since 2022 · 1k+ posts · 1k+ votes
    1y

    Welcome to BP Max, and good luck as your jump in!

    [email protected]
    0Reply
  • Max Edward Connelly
    OP
    Member since 2025 · 5 posts · 3 votes
    1y
    Quote from @Jaycee Greene:
    Quote from @Max Edward Connelly:

    Hey Jaycee. Thanks for the welcome! I would like to acquire a 15 unit or so apartment. I am looking for something in the Topeka area. I am kind of flexible on price point, something under a million for sure. The lower the price the more I would be willing to do some fixing up. I found a really nice brick building with 12 apartments, 3 commercial business units and some garages. I like the location and the price is 650k

    For mixed use properties as you describe (and I'd assume is located on SW 10th St.), I'd recommend that the residential units fully cash flow the loan as my experience is that mixed use properties are tougher to finance as most lenders tend to prefer one or the other and something in the middle gets more difficult.

    For example, and granted I don't know anything about the area/neighborhood, I would expect this property (https://www.realtor.com/realestateandhomes-detail/111-NW-Har...) to be easier to finance than the mixed-use property you mentioned.


     That is the property I was looking at. The initial numbers seem good to me. Thanks for the heads up on financing a mixed-use property. That is something I did not think about. Do you have any recommendations on a lending source for a property such as this?

    1Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 726 votes
    1y
    Quote from @Max Edward Connelly:
    Quote from @Jaycee Greene:
    Quote from @Max Edward Connelly:

    Hey Jaycee. Thanks for the welcome! I would like to acquire a 15 unit or so apartment. I am looking for something in the Topeka area. I am kind of flexible on price point, something under a million for sure. The lower the price the more I would be willing to do some fixing up. I found a really nice brick building with 12 apartments, 3 commercial business units and some garages. I like the location and the price is 650k

    For mixed use properties as you describe (and I'd assume is located on SW 10th St.), I'd recommend that the residential units fully cash flow the loan as my experience is that mixed use properties are tougher to finance as most lenders tend to prefer one or the other and something in the middle gets more difficult.

    For example, and granted I don't know anything about the area/neighborhood, I would expect this property (https://www.realtor.com/realestateandhomes-detail/111-NW-Har...) to be easier to finance than the mixed-use property you mentioned.


     That is the property I was looking at. The initial numbers seem good to me. Thanks for the heads up on financing a mixed-use property. That is something I did not think about. Do you have any recommendations on a lending source for a property such as this?


    Personally, and what I would do for my clients, I would connect with a local community banker to discuss the property and see if their bank would entertain this type of financing (not all banks like doing this type of deal). I don't know anyone personally in Topeka, but the banks I'd suggest you reach out to first are CrossFirst, CoreFirst, and Emprise.

    [email protected]
    0Reply
  • Malcomb StapelPro Member
    Investor · Topeka, KS · Member since 2020 · 669 posts · 488 votes
    1y
    Quote from @Max Edward Connelly:

    Hey Jaycee. Thanks for the welcome! I would like to acquire a 15 unit or so apartment. I am looking for something in the Topeka area. I am kind of flexible on price point, something under a million for sure. The lower the price the more I would be willing to do some fixing up. I found a really nice brick building with 12 apartments, 3 commercial business units and some garages. I like the location and the price is 650k

    Hey Max, you are referring to the old Gem building. Very cool piece of real estate, unfortunately it doesn't even make sense at the $650k asking price. If you want to chat sometime I am local. 

    Malcomb
    0Reply
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