All Forum Posts by: Gerald Thompson

@Dennis Jayy,

What information were you seeking in the KC market?  I may be able to help you.

@Jacob Johnson,

Welcome to Bigger Pockets!  I am also in the KC area and I look forward to meeting you sometime in the near future.

Good Luck!

Gerald

@George Zatulovsky,

I have a great contact for you.  I will IM you his information.  I know him personally and he is very honest.

Gerald

Josh,

I haven't used him as a realtor; however, Scott Ficinus might your man.  I know him personally!  He is a hard money lender, a realtor, and an investor (all in one).  This guy knows his stuff and is very creative.  Give him a call and see what he has to offer you.

[email protected]

816-668-7223

Good Luck!

Carlos,

As you can tell, there are a number of possibilities to this question.  You have to ask yourself what you are trying to achieve.  My rentals have products that LOOK like good quality, but for a fraction of the cost.  I agree with @Bryan N. , I always go with tile in the kitchen and bath for longevity and the ability to seal the floor from water damage. 

I use laminate flooring in the living area and hallways.  I would prefer to not have carpet at all; however, I always lay carpet in the bedrooms so people's feet are comfortable when they kick their shoes off.  If you have a basement, I use vinyl planks.  This is not your typical vinyl flooring!  It has the look and texture of hardwood floors, but it is vinyl and has a waterproof backing.  This stuff is amazing!  I have attached a link to some of it below.  You can buy it at Home Depot and/or Lowes:

http://www.lowes.com/pd_534153-28573-50SLV501_4294608591__?productId=50076951&Ns=p_product_qty_sales_dollar%7C1&pl=1&currentURL=%3FNs%3Dp_product_qty_sales_dollar%7C1&facetInfo=

By using these products, my flooring maintenance costs have dramatically declined.

As a Wholesaler, it is important to find the deals that are not on the MLS. Anytime I get a new buyer added to my list, the first question they ask me during the interview process is "Are your deals listed on MLS?" There is nothing wrong with working with a realtor, just know that their commission is part of the deal. 6% doesn't sound like a lot, but it could be the difference between getting a buyer, or not. Keep the total cost around 60 - 70% ARV and you should be fine.

@Michael Iuculano

I am a local KC Wholesaler/ Investor.  Let me know what you may be interested in as we have frequent opportunities for you to get engaged in the KC area.

Gerald Thompson, Grasslands Property Solutions, LLC.
E-Mail: gthompson@grasslandspropertysolutions

@Thomas Hallensleben

The advice above could not have been said any better!  Due diligence is the key to future issues.  I have been there before... I have renovated a whole house, rented it, and then the tenants ruined it.  It took me another 3 - 4 months to recover.  Not only was the damage extensive, but the months of having the house sit vacant was lost income as well.  Bigger Pockets (along with others) has a tenant screening capability listed under the resources tab.  You set up your parameters for acceptable tenants.  The applicants input their data into the system and you are sent a report, which will give you an idea of whom you are dealing with.  Trust me when I say... It is better to have a vacant house, rather than a bad tenant.  Do not let your emotions and desperation dictate your future.

Good Luck!

Gerald Thompson

Project Manager

Grasslands Property Solutions, LLC.

816-659-2352

[email protected]

The Poco's Restaurant meeting is very beneficial for all types of investors of all education levels.

@Angle B.,

That's awesome.  Are you using your personal FB account or business?

Gerald