All Forum Posts by: John Ching

Welcome to BP, Jacob. I've got a buddy in St. Louis who is doing very well wholesaling.  He just held a 3-day wholesaling bootcamp there. He is on pace to do over 100 deals this year. Shoot me a PM and/or colleague request if you want me to pass along your contact info.

Randy Landman, same goes for you. I also come across St. Louis wholesale deals as well and can keep you on my list. Give me an idea of what sort of properties you are looking for and parameters? 

Cheers, guys!

Charming little rock house in Springfield, MO. Close to retail and restaurants. Great investment property or even first-time home buyer.  Lot of potential as the lot size is 9,900' sqft.

Last tenant just moved out and was paying $400/month. Cap rate right around 14%-16% on this one. Add some paint, carpet and you are good to go.

By the numbers:

Rent ($395/month x 12)  $4,740/year

Property tax (2016 est.)  $338/year

Insurance (est)             $300/year

HOA 0

Property Mgmt             0

Vacancy (10%)             $474

Maintenance (10%)      $474

Mortgage Payment      0             

Total Annual Expenses: $1,586

Net Annual Income = $3,154

Cap rate: 15.9%

Call John @ (417) 501-4388.

Hi Eric,

I'm transplanted from So Cal living in Springfield, MO, which is a good area for cash-flow properties. Reasons are - relatively stable economy and job growth, several Universities (Missouri State, Drury University, Ozarks Technical College, Evangel, etc.) in the local area and a major hub for surrounding suburbs/towns such as Ozark, Nixa, Republic, etc.

If you favor cap rates, it is easy to hit low to mid double-digits on properties that seldom top $100K (yeah, BIG difference from Irvine/SoCal in general!!).  If you are comfortable with leverage, cash-on-cash returns easily start at 20% and go up from there.

Appreciation will be little to none, or basically keep up with inflation. Unless there is another spike or access to easy money that we had back in the early-mid 2000's. 

After living here for several years, I will continue to acquire properties here for cash-flow and flip properties in So Cal.  Bottom line, though, is it's much easier on your capital reserves to build a portfolio of cash-flowing properties here in the midwest.

Hey Westen, I'm also local to Springfield and would like to help you in any way. There is a local REIA (Real Estate Investors Association) here in Springfield that is a good group of people. Feel free to reach out to me if you would like to learn more or chat about investing. Plenty of good folks here on BP and locally. Bill G is very knowledgeable and always willing to lend advice.

Cheers!

Hey Johnny, welcome to BP! Sorry I'm late to the party, but just caught this post. Feel free to contact me regarding investing and flipping here in the Ozarks. I can always use a good contractor!

Cheers,

John

Hey Derek, just saw your post here. 

The local (Springfield) REIA does allow you to attend your first meeting for free. however, they have also added new, "sub group" meetings such as, "Beginners In Real Estate Investing" which are free to attend. They are also starting a, "just deals" meeting twice/month where people bring deals for sale and/or networking opportunities for things like like joint-ventures or partnerships in flips.

Feel free to call me for further info (417) 50-4388

So, Mitch, did you get to spend Christmas in the new house?

Hi Chris. 

I was exactly in your shoes about 6 months ago. I had no idea who the, "Queen of Rehab" was. Well, I do now. 

Robyn's the real deal. I've had the pleasure of spending time at her horse ranch in Ocala and her home in Orlando.

She appeared at our local REI Group here in Springfield last June and I attended her 1-day flipping course which was well worth my time. I was so impressed I signed up for her 5-day Bootcamp. She is the most hands-on instructor I have known and she really cares about her student's success.

Hey guys, as primarily a house-flipper, I have had the opportunity to wholesale properties. One of the things I notice many wholesalers lack are either accurate ARV's (comps), repair estimates, or both. Do you guys have the same experience?

Obviously, as a flipper, I take it upon myself to run my numbers for both.  And I do the same if I'm going to wholesale the property. I incorporate actual examples of SOLD comps as evidence.

I haven't used it yet, personally, but I think you've put together a great tool here, Wendell.

Bill, 

I need to sit down to a dinner with you! You have a wealth of knowledge and are local, it can't get much better! Thanks for passing along this info and your commentary.