All Forum Posts by: Cole Starin

Hello fellow BPer's. I am in the process of refinancing a few properties and one duplex in particular was financed with an FHA loan. Recently I have been told by a few lenders not to refinance the duplex secured by the FHA loan because trying to use the FHA loan again on a multi family property wouldn't make it past underwriting. Essentially I have been told that the underwriter would see that I have purchased a duplex in the past using FHA and was again trying to use it to buy another multi family property which would be considered taking advantage of the program. Does anyone have any experience with this? I am considering keeping my FHA financing in place as it has a very low fixed rate. However, I was hoping to have the ability to use it again this year to finance another 2-4 unit property. From everything I have read this is a fairly common strategy but upon trying to use it myself I have been told otherwise. Does anyone have any recent experience with this?

@Amanda Tilton are any of these still available?

@Alex Corral I personally like the north Kansas City area but there are great area's all around the city. At this point in my career I do tend to shy away from the 64130's. 

@Alex Corral KC is a sellers market at the moment and competition is very high for the description you gave. As a first step I'd suggest narrowing your scope to a few zip codes and watching them (MLS alerts, craigslist, FB market place, wholesaler websites, etc.)

@Jay Cam Welcome to Kansas City! Best of luck with your first acquisition and please keep us informed on how your search goes. 

KC is a great rental market @Clay L. and I think its great you're considering it as your next home! I really like the map @Brian Wilson provided in his post above. My favorite area of the city is the north land and I currently hold all of my inventory in that area. However, I'll add that there are good options out east in the 64055, 64014, 64015 zip codes (20-30 mins from airport) for MF's which I think is the way to go. If it were me, I'd move to the area and house hack. I think you're budget is more than enough to get yourself a nice duplex,and with a little work, could land you a 3-4 unit property. Please feel free to PM me if you have any further questions. I'm also happy to meet for coffee once you're in the area to connect you with my realtor and maybe get you plugged in to the local MAREI group.

Is this available?

Is this still available? Wondering why it's still posted if sold?

h. l

I'm currently a manager of a 16 unit complex in Westport and also invest in the North Kansas City area. The partnership is currently offering 3% with a contingency fee based on performance. Please let me know if you're interested in details.