All Forum Posts by: Anthony O.

@Sharon Tseung You can totally do it! I had my first desires to pursue real estate less than a month ago and just accepted on an offer today. Just do it!

@Caleb Heimsoth Yes, actually in both cases they are within 30min- 1 hour. I know there’s a strong rental market but I am just hesitant. I know there’s so much discussion about purchasing in lively busy growing areas that I feel conditioned to not consider markets that aren’t as robust.

Just looking for input on buy and holds in areas of low population with little glam and prestige, but a strong constant rental market. I’ve come across several deals now with incredible numbers and full occupancy for quite some time. Now I know there are down sides like limited resources, property management, contractors, etc.., but I feel like I’m talking myself out of many opportunities. Has anyone had good success in areas like this?

yes I would like to buy and hold. Feel free to PM it to me.

Originally posted by @Paul Lichtenauer:

Originally posted by @Anthony O.:

Welcome Paul, I’m actually looking in the Raytown area as well. Any suggestions or thoughts on investing in your area?

 Hi Anthony! Are you located in the Kansas City area?

No I’m from Southern California but I actually submitted an offer on a place yesterday in Raytown. 

Welcome Paul, I’m actually looking in the Raytown area as well. Any suggestions or thoughts on investing in your area?

Thankyou Mike, I reached back out to the listing agent and she put me in direct contact with the owner. His understanding what that I was coming to close with a larger down payment than I offered. Misunderstanding between both parties. Thank you for your quick reply.

Im working on negotiating a deal and the seller offered the following terms. I need help understanding exactly how this would work out:

"Balance between your cash and agreed upon price would be financed at 7.5% with payments of $300 a month."

Is that 7.5% +300 per month or 300 per month for the duration of the loan with 7.5% per year?

Thomas Can you message me with your properties?

Stumbled across both deals today, and this would be my first deal. At face value they don't quite pan out, but I think there is potential for both to work out very well:

1st deal is a 3 bed 2 bad near a college. Asking 105,000 currently renting for 900/mo. I asked the agent to reach out to the current tenant and find her interest on maintaining tenancy if I were to rent each room independently. $400 per room, gave her the option to seek roommates. The tenant said she would be interested in that. The numbers would break down as follows:

105K

21.2k Down

Cap 8.33%

COC 11.72%

NOI with Loan $2857 ($238mo)

2nd deal is a duplex pocket listing. 3 bedrooms each side, also near the same college. One side has been renovated and rents currently for 750, the other side rents for 675. I don't think it would be unreasonable to rent each room 300, equaling 900 per side. The numbers would break down as follows:

140k

28k Down

Cap 9.62%

COC 17.34%

NOI with Loan $5584.38 ($465mo)

What are your thoughts on the numbers, and do you think I have realistic expectations to be able to raise rents and be successful? With this being a college town I would expect that I could rent rooms independently, though I am looking for input. 

Thank you