All Forum Posts by: Alex Olson

Hello BP Family, 

I have a couple of rentals in Kansas that I own outright, I bought them with cash because at the time I wanted to reduce risk and simply get into the game. Now that the properties are cash flowing well, does anyone know of any good lenders in Kansas or online lenders who will refinance the property so I can pull my capital out and reinvest it into buying more rentals? FYI - I haven't owned them for 6 months yet. I have already checked with a few banks and online mortgage institutions and it seems like many of them want you to own the property for at least 6 months before refinancing and pulling money out. Does anyone know of any banks/credit unions/online institutions who will refinance sooner? 

Thank you!

@Leah Richards - you're personally located in one of the hottest and most sought after RE markets in the country/world. Option #1 seems like a slam dunk if you ask me. I live in KC now, but bought 3 properties in Austin in 2015/2016 on the outskirts in the $300-$400K price range...each appreciated $100K in value in a couple of years...and my total ROI returns were incredible (>100%). Really think doing a house hack where you use a primary residence loan on a Duplex (like @jordan moorehead recommended) is an outstanding move. If you need me to connect you with the RE agent I used to buy my 3 places - let me know. He is partially retired now because he made so much on Austin real estate himself, but he's a cool dude and he gets RE investing.

What are some lessons y'all have learned from your rentals that you think nobody should make? Best things to put in your leases?

Hello BP family I hope everyone is doing well. I am about to rent one of my vacant unit for the first time. I have a lot of tenants with potential and want to screen them very well.

What app do you guys use to check their credit and evictions, and also background??

Please show me the way!! Thank you so much in Avanced

Hey BP! I was wondering what your thoughts are on becoming a real state agent? I am wanting to pursue it for 1. To gain experience in the world of real estate and to get my feet wet if you will. I am very new to this, it truly is a whole new world. But BP has taught me that investing in real estate can really leave you set of done properly. And 2. Realtors make income as they are learning the market, etc. I am wondering if you think this is a smart move?! I don’t want to go to school and get into loans or any of that. I would like to hear from those who are investors/agents! Thank you in advance. 

@Andrew Erdrich - what is your opinion on 64131? Specifically Charlotte Street / Harrison Street off of Bannister Road?

I've heard good things about South Kansas City with the Bannister Federal Complex revitalization, Cerner, and some recent commercial development.