All Forum Posts by: Caleb Brown

Nice work! Love these kind of deals

Question on the loan you are using FHA or do an owner occupied loan? Are you renting room by room? Also interest rate seems higher if that's an owner occupied loan.

I think they will due to people migrating from CA ad Seattle area. Especially as they continue to pass laws and favor less landlords. 

Find a local attorney to draw it up. There should be a local REI group to start. Paperwork is huge, a law suit or anything legal issue can sink you instantly.

@Eugene Davis Dave Ramsey is good for most but for investing it doesn't apply. Biggest advice for investing is be conservative on numbers, learn as much as you can, don't over leverage, and build a team to help support and grow.

Agree with Greg. My parents are refinancing their home to pay a whopping 2.25% interest. No point in paying that off FAST when you can invest and make 5%+ and that's conservative/low return. I used to listen to Dave Ramsey a lot and he'd preach pay off the home first but in the long run that's pointless with how cheap payments are. Keep chugging on and don't listen to them. In 5 years you're house can be completely paid off with the investments. 

Some of my fav parts- NE KC but not South of Independence, Blue Hills, Paseo Boulevard/ West of Highway 71, South KC around Cerner, Far View Heights (Independence). A few suburbs that are on the upward trend North KC(64116, 64117, 64118, 64119 and anything North of those), Blue Springs, Lee's Summit, Independence, and Grain Valley. Hope this helps, KC is an interesting area. 

For anything under 5 units comps are what an appraiser would use. How far out did you go .5 mile,1 mile, 2 miles, etc? Are you trying to BRRR it?

Me personally cold texts work. When I send 20 texts I usually get 3-5 answers. 

Possibilities are endless. A few questions you need to answer...

How much experience do you have? 

What are your 6 months, 1 year, 5 year+ goals?

Are you comfortable with long distance or local cities?

Do you have a team established?

1 mill would be a lot to blow. A few popular niches are commercial, small/large multi family, mobile home parks, storage facilities, BRRR/Value add etc. Personally value add or BRRR help scale the most. Finding deals can be the hardest part.