All Forum Posts by: Andrew Doolittle

Here are a few I'd recommend after personal experiences with them: 

Southern Bank - Commercial loan officer, Lane Hamilton.

BluCurrent Credit Union - Commercial VP of lending, Brian Roy.

Best of luck!

@Rob Jones

In my experience that call is totally dependent upon the lender. I have a few banks that I work with down here in Springfield, Missouri that would likely be fine with that sort of financing arrangement. I've had some good luck shopping a specific deal structure around to a few different banks at a time and then picking one who allows me to do exactly what I want. 

I'm no expert on the Kansas City market but it sounds like you'll be buying these properties around an 11% cap rate as long as the seller's numbers are accurate - which I'd consider a very solid deal!

Hi Rob,

It looks to me as if you have a good deal on your hands here - especially with the seller financing. What part of Missouri are the properties located? That would give me a bit more insight to make some suggestions. 

Multi-family opportunity newly listed in Springfield, MO: 

6 triplexes (18 units) adjacent to one another that fill a neighborhood block. Priced competitively at $700,000 ($116,666 per triplex) in a neighborhood that has rented at great occupancy rates historically. Centrally located in Springfield, MO close to the retail anchor of Bass Pro shops and much more. 

Property Summary

Price: $700,000

Units: 18

Total Square Footage: 12,412

Proforma NOI: $56,241.88

Addresses: 1005-1039 W Washita St. Springfield, MO 65807

Contact:

Please contact me at [email protected] or 573-999-3702 if you are interested in receiving our marketing piece and financials for this opportunity.

Hi Jonny,

I'm an agent specializing in investment properties in Springfield and I'd love to help in any way that I can. I'll send a private message your way.

 Thanks Robert - city-data.com looks like it covers just about everything I'll need to get started analyzing. Appreciate your help!

I'm in need of some unbiased market research data that I can use to make educated recommendations to my primary client as to which market in the mid-west they should look towards investing in the multi-family sector. Specifically Kansas City MO, Tulsa OK, and Northwest Arkansas. Does anyone have good recommendations/techniques that they have used in the past to analyze a new market? 

I've considered reaching out to appraisers, top brokers, and other sources in the areas. However, before I invest my time and resources into the data hunt I hope to hear any success stories others have had researching new markets first.

Thanks for any and all feedback!

Darlena, could you private message me your email? I will send you a PDF that contains all of the info from there. 

The ownership would prefer to sell the portfolio as a package but we will review any and all offers that we are presented. 

Thanks for your interest!

Asking Price: $1,433,950

Appraised Value as of Nov 2011: $1,687,000. 

Net Operating Income (95% Occupancy): $117,320.01

Capitalization Rate: 8.18%

Wholesale portfolio available for purchase in Springfield, MO. The portfolio consists of 21 single family homes that were completely remodeled in 2010 with a few of the properties being remodeled in 2015. The portfolio is currently managed by a professional property manager that could be transitioned to manager for the new owner if they so desired.

Addresses and a map of the properties are available upon request.

Appraisals dated November, 2011, recent ResidX market valuations, current leases, rent rolls, and previous leases are available upon request.

Contact information:

Andrew Doolittle

Email: [email protected]

Phone: 573-999-3702

First time poster here,

I've been reading/listening to Bigger Pockets for a few months now and finally decided to commit myself to posting.

I found my start in the real estate field at the age of 18 when I acquired a summer job as a leasing agent for a property management company. At the age of 22 I was a licensed real estate agent fired up and ready to learn. I graduated later that year from the University of Missouri with a bachelor's degree in Economics. 

In the last two years since graduation I've had the opportunity to work full time as a project manager under a local multi-family real estate developer and as an agent brokering multi-family sales and acquisitions for the Missouri Valley Real Estate Investment Trust. 

Personally, I own one single family rental and have big plans for 2016 to purchase and build in the multi-family sector in Springfield, MO.

I'm looking forward to becoming an active member on Bigger Pockets and hoping to make some great connections for the future!