All Forum Posts by: Christy Wright

thank you both! Gross rents are $4200 a mo.....he is asking  $450k. However, we know that is his right starting estimate and he will negotiate.  We would be buying direct from the current owner.

My husband and I have been property owners for 10 years, but primarily own single-family homes. We typically buy vacant, undervalued homes  where we can create value  buy remodeling the property, we then get it leased out and the bank refinances us . In the end we end up with every single penny of our money back, and no cash out of pocket.

We have the opportunity to buy an 8 unit apartment building that is fully occupied. The structure is fairly sound, however it is quite outdated and the rents are low for the area. We see that the opportunity is in raising the rent after doing some updates to the property. However, where we are stumped is how we can end up in a position with no cash out of pocket. We're not quite certain on how to analyze this deal with that as the end goal in an occupied building. Anyone out there willing to school me on this? :-)

any idea on how others are buying foreclosures straight from the bank before hitting MLS?

my husband and I have been landlords for about 8 years. In the last couple years we have been acquiring more and more single family and duplex homes in our area of Kansas City. Do any of you know how people are reaching out and buying foreclosures before they ever had the market? We are finding it that is happening with investors in our area and we want to get involved.

We are cash buyers and can move quick, we just don't how to get connected to this market.

Thank you!

Christy 

thank you all! Fyi...us bank is looking good w a 25 yr am., 5 yr balloon at like 4.25% and they'll go up to 80% ltv. I actually work at US Bank....give me a shout if anyone needs a contact here

thanks!  I'll check it out. FYI so far enterprise has been excited at the opportunity but I'd rather have a few to work w.

we have a lone of credit we purchase our properties on and I need to portion out like 5 properties SfH & DUPLEX into term/balloon note. So far I've heard some local Kansas City banks rent hat hot on them right now, and I've come across that are putting together offers. Anyone have great luck w any financial institutions around the KC area.....or anywhere else.

I have been searching for a user friendly, inexpensive online based accounting software. Ive come across Easy Storage Solutions, Buildium and Property Manager Cloud. I really want to make sure the data entry side and report generation side works well, plus easy to access on my phone.

Anyone recommend these?? It will be used for 10-20 SFH rentals.

Thank you!