All Forum Posts by: Billy Kerns

I tried Latchel a couple years ago and didn't have the greatest experience.  It seemed like they really struggled to find contractors in the area. In their defense the area is pretty rural(town with a population under 10k).

I like using RentRedi. Didn't seem too hard for the tenants to setup, can do partial payments if there are multiple people paying, and they can pay early if they like. There's always promo codes floating around for RentRedi too so it's not very expensive.

Hello everyone,

Does anyone know of or even better yet recommend a property management company that services the Cameron MO market?  Right now my only property is a duplex but I hope to be expanding soon and would like to get some systems in place now.

Thank you!
 

Hi thanks for responding!  

It is an older building but it has had some recent capX expenditures.  I know recently the building was fully occupied but that could have changed.  I think it could use some updating as tenants turnover but it looks to be in decent condition as is.  I'm guessing this is lender dependent but do you know if the down payment on a commercial loan is typically 25% of purchase price or 25% of the actual value based on some metric like cap rate?

The property is in the 64429 area.  It is a pretty small market but having grown up in the area and currently owning a duplex nearby I know rental demand is strong.  

Hello,

I'm interested in a small apartment building that is over 4 units putting me into the land of commercial lending. However the price is less than 200k which I think may limit my financing options. I've started to put together a list of smaller, local banks to call but wanted to see if anyone on here had any luck finding something similar. 

Thank you in advance!