All Forum Posts by: George Red

Hey Hector, I live in CA and within the last year started buying duplexes in Kansas City Missouri. I was initially looking in Atlanta but got priced out as properties kept skyrocketing… also looked in Jackson Mississippi before landing on KC. Reasonable priced major city but looking at other cities now potentially but haven’t invested the time into understanding another market yet.  Let me know if you have any questions or I can help with anything.

Quote from @David Kelly:

@Cody Burckhardt

You are able to do what is called Delayed financing. Since it was paid in cash you can immediately do a cash out refinance with normal LTV guidelines. The cash out may not exceed the purchase price plus closing costs. Reach out if you have any questions on this.

What David Kelly said… just closed out a delayed financing transaction earlier this month. I just let my lender know my intent while the cash purchase was still in process so everyone was on the same page.

My first duplex purchased was through an LLC directly and I did a lot of calling around thinking most major banks would lend to LLC's. Not many would but I ended up going through ROC Capital out of NY. More hurdles than purchasing a SFR but they delivered on the loan.

Quote from @Nicholas L.:

@Account Closed I hope this is accurate, but I'm still waiting for prices to come down.  I'm seeing DOM go up, but individual sellers are still holding out for what they think they should get.

I’ve been buying in the KC market and definitely seeing properties on the market longer and now seeing price decreases. Thinking wait about 6 months and sellers will see the writing on the wall for sure. Trying to be patient and keep stockpiling cash.

My vote is to keep the townhome. I’ve regretted selling each prior residence I’ve had… in the long run I believe it should be a winner.

I've been watching th KC market and started seeing properties that used to be on MLS for a week before finding a buyer begin to stay listed for weeks. I'm doing small multi family so not paying attention to sfr … then in the last month or so more 4-10 unit places hit the market as I think bigger fish tried to sell before the pullback.

Will be interesting to see the next 6 months as starting to see clients do some layoffs and belt tightening. Sitting on the side while a refi closes and will look for deals. I think the tide has turned somewhat but unsure what 6 months from now looks like. Interested to see how others are thinking…

Hey James, best wishes in your real estate adventure. I live in CA and have been buying in Kansas City and have found landlord policies to be more expensive… seems logical that there is more risk and thus a higher price in how a tenant would treat a property vs an owner.

Hey James, best wishes in your real estate adventure. I live in CA and have been buying in Kansas City and have found landlord policies to be more expensive… seems logical that there is more risk and thus a higher price in how a tenant would treat a property vs an owner.

Started investing in KC market buying multi family and I have had a great experience working with a vendor handling electrical, plumbing and  hvac but looking for solid referral/recommendation for a handyman or carpenter to round out coverage for my units. Any first hand recommendations?

I've purchased duplexes in the Kansas City market and have budgeted about 5% on CapEx. I've been interested in looking at 4-10 unit properties and curious if that 5% CapEx figure is still good or does CapEx % typically get higher as there are more doors? If so, what % have you done for properties over 4 doors?