All Forum Posts by: Alex Olson

Hey Nick - DM for some ideas and options. 

@Leon Lee My suggestion would be to find a CRE agent that works with Buyers on a regular basis. But you need to be very honest with them as to what you are looking for and provide feedback. Then of course,buy something that fits your criteria. Speaking from experience :)

@Aaron Moore Depends on the make up of the house/building. In a down turn propel will want to save money and live with more people to reduce the monthly cost. Things most like hit would be studios and 1 bedrooms. 2 and 3 bedrooms will do well.

@Evan Polaski I would use an awesome MF agent in that area. Call around. Not alot of the firms truly represent buyers. Then build a relationship with a smart agent that does represent buyers and make it worth his time...be honest with him or her about exactly what you need. He or she will have really good contacts for everything you want - pm, insurance, contractors....I know because I am an agent in KC that provides this service.

@Andrew Kahle Are you working with a good broker/agent in your area? If not, find one. They will help make sure you get the deal under contract. 

@Erik W. They last forever. Look at the northeast (Boston, New York, Pittsburgh. Have s structural engineer look at it if you are concerned at all. They are very versatile as well - can be used for office, res, and retail...and of course warehouse/industrial.  

@John Vanhara I just ran into someone today that was doing commercial lending that is not a traditional bank. They run deals through all state, state farm and the large insurance brokers. They are lending money at competitive rates to banks. Might want to find a commercial broker. 

@Karla Kahmeyer you can set up with both KCPL, Kansas Gas, BPU and Spire to have a landlord leave on contract that will revert back to you when the tenants have them shut off. I have not had any issues with tenants in this way. If they shut off what ever outstanding balance impacts their credit not you as a landlord. 

@Nigel Prentice In the Kansas City market you would be looking at 12% of the loan amount and 3 points up front. Typically it is 11-15% with 1-5 points. Hope this helps!

@Rob Bianco Vacancy rates have crept up in the entire KC market, in particular out lying suburbs that are not Johnson County, Lee's Summit or Liberty. Winter is not good for anyone. I would talk to other PMs and see what they think. Maybe specifically hire a leasing agent that specializes in leasing up space?