All Forum Posts by: George Red
George Red has started 33 posts and replied 131 times.
Post: Deals not pencling, local knowledge questions for KC

- Posts 134
- Votes 130
@Amanda Lizana @Justin Moy @Caleb Brown
Thanks for the insight and perspective... I'm keeping my powder dry and looking for deals as they come up, it will be interesting to see how pricing goes in the coming months. I'll focus on house keeping on the properties I've closed on already and look out for deals. Appreciate your thoughts as it's helpful for OOS investors like myself.
Post: Good Housing Authority of Kansas City (HAKC) contact?

- Posts 134
- Votes 130
I purchased property with section 8 tenants in place and I believe that after closing, a payment went out from HAKC to the prior owner that should have gone to me. I've been reaching out to HAKC unsuccessfully through general emails and making contact with someone that can assist in resolving this matter has been challenging. Anyone know of a good contact there or someone responsible for owner correspondence? Also, general impressions/experiences of dealing with HAKC and having section 8 tenants. It looks like the consistent steady and reliable income is a plus and minus this issue so far so good.
Post: Kansas City Property Managers

- Posts 134
- Votes 130
I've been using Home River Group and there have definitely been communication issues… as in taking an unreasonable (in my opinion) amount of time to answer questions. Their fees are withdrawn quickly… there answers not so much in my experience. Evaluating other options and as REI is newer to me… not sure if slow responses are par for the course.
Post: Deals not pencling, local knowledge questions for KC

- Posts 134
- Votes 130
I’ve purchased a few small multi units in the KC area and I’ve been keeping my eyes out for additional opportunities. I’m an OOS investor so I have a few questions I’m hoping leverage local knowledge on.
The further west I go in KC the multi family deals listed on MLS do not pencil out for me and the available rent does not support mortgage/expenses and leave cashflow. Are people buying these for appreciation and not cashflowing them banking on appreciation 3-5 years out?
I’ve also been looking in NorthEast off of Independence for MF and interested in people’s thoughts on the area and appreciation there in the coming years.
Thanks in advance.
Post: I'm Doing All the Work. Is This Typical with a Real Estate Agent?

- Posts 134
- Votes 130
Hey April, I'm not an expert but my 2 cents...
This resonated with me because the agent I've been using doesn't really "bring" me anything but if I shoot her a listing she'll do some of the legwork... but even then there are delays and she can sometimes be less than responsive. I've bought 3 properties through her in the past year so you would think I may get some TLC as someone who will close. I'm thinking my "fault" is not communicating to her clearly what I'm looking for from her and confirm that is something she can provide. I signed some documentation stating that I would work solely with her but will be terming that to work with additional agents as I feel there will be a lot of opportunities in the coming year. I think being clear with what you're looking for and your expectations may go a long way and ensure you're on the same page. You're frustrated but she may think she's meeting your needs and doing an awesome job.
Post: Lessons learned from our first deal (fix n flip)

- Posts 134
- Votes 130
Congrats sir... just saying the word contractors give me the willies... Seems that if you're a good contractor you could clean up though.
Post: Building a team or going solo

- Posts 134
- Votes 130
I'm gearing up and keeping powder dry to utilize in the near future if the market keeps softening and welcome any information/opinions. Thanks in advance.
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.
Post: Refinance a Cash Purchase

- Posts 134
- Votes 130
Quote from @David Kelly:
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.
Post: Commericial Lenders for LLC

- Posts 134
- Votes 130
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.