All Forum Posts by: Mark Boek

Here are 2 packages of KC / Northeast Kansas City / Independence rental properties. Multi-family and single-family mix. They are not yet on the mls.

Pkg 2

Pkg 3

Possibility of 2 additional packages as well (one with 40 properties). 68 properties total between all 4 packages.

Seller financing considered with 15% down, 7% for 10 yrs, 30 yr amortization.

Click on links for pictures & additional info.

PKG 2: $1,365,000 http://mboekbuyer.oncarrot.com/property/n-e-kansas-city-rental-properties-package-2/

PKG 3: $720,000 See details on website for special purchase stipulations on this one: http://mboekbuyer.oncarrot.com/property/ne-kansas-city-rental-properties-package-3/

**Disclosure of all addresses requires signed buyers agency agreement for addresses listed in packages.

If you have questions you can call me at 816-401-3544.

Thanks,

Mark Boek
816-401-3544

@Trent Kruessel we're using RealProtect (in Georgia) which is brokered through SES (California),  Underwritten by Lloyd's of London. Not sure exactly how that all works out, but they are covering a package of 8 properties for us (2 bd sfr's & duplex/triplex) that we purchased last year in Independence, B-/C+ areas. We've not had any claims so I can't speak to that. 

Coverage for 2 bdrm sfr averages about $30/mo, triplex is $62.

Also using NREIG on on a sfr since 2015. We had a hail damage claim on roof and siding. They sent an adjuster up from Texas and just covered the roof and the siding on the front of the house. Adjuster wanted to repair only a few pieces on one side - said the side of the house didn't have enough damage to warrant replacement.

My contractor was able to work it out, though, where we were able to do the front and 2 sides since we wanted to change the siding color. The back of the house isn't very visible anyway, so not a big deal to keep it white.

It was a bit of a hassle getting the checks cashed. This was a seller financed house with the seller living in Tennessee so the checks were made out to me and the seller. They sent me the checks and I had to send them to her for a notarized signature and notarized letter assigning proceeds to me.

(My take-away from that was to make sure the first time I get a notarized letter from the seller, make sure it states that they assign all their rights to any additional checks regarding the claim.)

I'm looking at switching coverage on this property to RealProtect as well. Here's the comparison:

NREIG premium: 73/mo     878/yr

RealProtect premium: 58      693/yr

Also considering adding additional coverage that will cover any updates that are required to bring the building up to code in the event of a claim (Ordinance or Law Coverage). That is an additional $34/year per property through RealProtect. This was recommended by one of the contractors who quoted the work. Seems like a good idea.

Here are before & after pics:

Mark Boek

I've been using Kansas City Property Solutions for several properties in Independence. So far they have done a good job.

@Phil LeNeveu , I've been using Kansas City Property Solutions for 8 properties and so far they have been doing a good job.

If you contact me when you're ready to start purchasing more properties here, I'll let you know what I have available.

@Aaron Winters,

If you're still looking, here's one I just signed yesterday: http://mboekbuyer.oncarrot.com/property/2926-victor-st-kansas-city-mo/

Well known KC BarBQ family owns 2 homes on same block. Rehab was started with architect who has contacted city and says it's possible to convert to a duplex for a higher appraisal. I've not researched that option yet myself.

@Aaron Winters

2926 Victor St

Kansas City, Mo 64128

Rehab has been started on this elegant Kansas City home featuring coffered ceilings in both the dining room and upstairs bathroom, original beveled glass doors to dining room, newer roof (unsure of exact age, approximately 3-4 yrs old), and expansive front porch.

Majority of homes on street are owner occupied

2-car detached garage

Unfinished basement.

Foundation is solid and does not appear to have leaks. (please confirm)

4 Bedroom / 2.5 bath

See more pictures at: http://mboekbuyer.oncarrot.com/property/2926-victor-st-kansas-city-mo/

Estimated ARV: $155,000-160,000

Home is not on the MLS.

Click here to see a few homes that have recently sold nearby (most are smaller homes): https://matrix.heartlandmls.com/DE.asp?ID=7141652827

Built 1905

2928 sq. ft. per Jackson County website
.18 acre per Jackson County website
2017 Property Taxes: $687.9 per Jackson County website

Repairs Needed:

Possible demo of wall to accommodate open floor plan

Replace windows

Update electrical

Update plumbing

Update 2 bathrooms

Install half-bath

Remodel kitchen

Repair wall and coffered ceiling at one end of dining room. Ceiling / wall is sagging due to water damage.

Replace interior doors

Repaint interior.

Refinish hardwood flooring

Replace flooring in some areas

Detached garage needs roof and siding.

Exterior vinyl siding is sagging in various areas and missing a few pieces.

Replace gutters and downspouts at back of house.

Landscaping.

HVAC and water heater appear to be newer.

Purchase Price: $72,000

PM or call Mark at 816-401-3544

Prime Property Options, LLC

owner agent

Experience cash flow from day 1 with this well maintained, fully rented duplex in desirable Bel Ray Estates in Belton, Mo / Kansas City area.

8103-8105 Bel Ray Ct

Belton, Mo 64012

Each unit: 2 bedroom / 1 bath, 1 car garage.

Washer / dryer hook-ups in each unit.

Has new roof.

Furnaces for both units are 4 years old.

Water heaters are less than 3 years old.

Market Rent: $750 each side.

Current Rent: $1450.

One side is currently rented at $750/mo. The other side is rented Section 8 at $700/mo with Appleton City voucher. Sec 8 pays entire rent amount.

2017 Taxes: $1813.10 per Cass County website. (please confirm)

No repairs needed.

See more pictures at: 

http://www.primepropertyoptionsllc.com/property/belton-duplex/

Built 1985

1608 total sq. ft. per Cass County Assessor website (please confirm)

Lot size: .23 acres per Cass County Assessor website (please confirm)

Purchase Price: $155,000.00

Call Mark at 816-401-3544

Prime Property Options, LLC owner agent

See pictures here: http://mboekbuyer.oncarrot.com/property/128-olive-st/

Estimated ARV: $215,000-220,000

Rehab already started on this Pendleton Heights classic home.

128 Olive St

Kansas City, Mo 64124

4 Bedroom / 2 Bath

Hardwood floors in large portion of home.

PEX and copper plumbing

Updated electrical panel

Off street parking (no garage)

Built 1910

2762 sq. ft. per Jackson County website
.17 acre per Jackson County website
2017 Property Taxes: $761.61 per Jackson County website

Repairs Needed:

Replace roof

Minor foundation repair

Stucco repair

New windows

Update wiring

Update HVAC

Remove paneling

Build closet for 2 bedrooms

Drywall repair

New kitchen

New bathrooms

New interior doors

Interior repaint

Exterior repaint

Re-finish existing hardwood

Flooring in various areas

Purchase Price: $105,000

**Price Will Increase As Work Is Completed**

Call Mark at 816-401-3544

This has been sold.

Thanks for your interest.