All Forum Posts by: Caleb Brown

I would ask the lender. If it's hard money they most likely fund flips so I would think so but every lender is different. Read the fine print.

Everyone is looking for low hanging fruit but it's not there. If you are looking for the easy path in REI to be successful then I'd look into another career. Most jobs in Real Estate require hustle, refining your skills, learning and growing. Start with listening to podcasts and interning, from there decide which path and double down.

As Karl said use a lawyer or title company(don't know how your state works). Here in KC you can go through a title company and they can provide a contract. Appraisal is usually after inspections. With a close date by March 31 you have plenty of time to appraisal after inspections. I would check with the lender on how backed up appraisals are so closing isn't delayed. 

Always look for both. Off market world is competitive since the market is so good. You have wholesalers and investors doing text/calling campaigns so owners are getting bombarded with them. Set yourself apart if you are doing those campaigns and just keep chugging along, you'll get deals through MLS or off market.

It all comes down to numbers. For multi  family I'd look off market. From my experience anything over 4 units rarely hits the market. 4 units and under are very hot which drives up the price. 

Those 2 zips are rougher areas. Some pockets are being gentrified but you have to be careful on which parts. If you look in Kansas City I'd look West of Highway 71, the farther West you go the better. Also I'd look into suburbs outside KC, Independence, Raytown, Grandview, Belton, and North KC are a few. 

The attic fan?

Woo! Excited to see how it goes

Nice cash flow. How's the area?

Depends on how much capital you want or can deploy. You can't go wrong with FHA but since it's low down higher fees and PTI.