All Forum Posts by: John Daley
John Daley has started 3 posts and replied 57 times.
Post: New Member - Kansas City

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Welcome to BP, Kirk!
Post: Kansas City / Independence wholesale - Great Investment w/ Equity

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
I have a wholesale property at this address that would be a great rental located in Sugar Creek (near Independence, MO). The details are as follows:
3 bed/1 bath
1,080 sq ft
1 car garage
two living areas
unfinished basement
Estimated ARV: $60,000
Estimated Repairs: $12,000-16,000 (depending on level of finish)
Wholesale price: $31,000
Could be a cute rental in a decent neighborhood all in for ~$45,000! That will cash flow for sure. If you don't want to do the work I am also willing to work with you to turn it into a turn key property prior to sale, so please message me for more details if that's what you would prefer.
The exterior is in very good condition with newer siding, windows, and roof already done. Interior needs general rehab throughout (drywall repair, paint, carpet, hardware, trim, etc), needs updated HVAC, and possibly updated main electrical panel (not required, but something I like to have done if the service lines are older).
Zillow values are low for this property for some reason (usually the other way around). Lots of good comps in the $60-90k range for 3 bed 1 bath properties nearby. Would be happy to pull them for you on request.
For more pictures, or if you have any further questions, please feel free to message or call me. Property will only be for sale at this price for a short time. If not sold in a couple of weeks will begin rehab work on it myself. Thanks for looking!
Post: New Member from Kansas City

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Good to see you here, Matt. I would love to connect if you're seriously on the lookout for some good deals in KC. Feel free to message me any time and welcome!
Post: New to Bigger Pockets

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Welcome to BP and I would second your sentiments about KC. Been here 10 years and it is definitely a great place to buy and hold. All the best!
Post: Can a wholesaler use asset based lendinb

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Asset based lending is one of the best ways to fund wholesales and rehabs.
I have explored many different kinds of funding, and asset based lending can be much cheaper and more flexible than other common methods. Basically, you need to have assets to borrow against (stocks, bonds, etc). Lenders will typically give up to 65% of your cumulative assets and rates vary from 3-6%. I utilize asset based loans as the primary source of funding for my business in the form of an open line of credit. This way you pay roughly a point to open the line of credit, then pay monthly interest payments only on the funds you withdraw to use until you pay it back. In my experience this is the most economical and efficient way to fund deals. There is a minimal fee to renew at the end of the year, but it makes so much more sense than paying multiple points and double digit interest rates for each and every deal you find.
Post: Beginner in Real Estate from Missouri

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Welcome, Janicka! This is a great place to get started...
Post: Separation from the waves of newbies

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Your story is all too common for those who jumped in right as the bubble burst. I'm glad to hear that you've come out the other side of it with an interest in learning how to make it work for you instead of throwing your hands up and giving up. The fact is there is always risk getting into real estate investing. It does, typically, take some significant resources...but the good news is that if you are willing to learn and hustle, you can figure out how to make great things happen. But certainly take your time and get a good base of knowledge to start working with. BP is great for doing just that. Welcome!
Post: Reach for the Stars…..Then Get There.

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Wonderfully encouraging post, Tom. I often have a difficult time with hyper-inspirational stories and posts, as they are usually heavy on sentiment and lack practical guidance, but I think you've struck the appropriate balance here. So much of success is mental and we are often our own biggest obstacle, but we have to acknowledge there is more to success than simple determination. You've got to put that attitude to good use and make things happen. But it's rare for people to succeed without both aspects working together. Well done and thanks for the exhortation!
Post: Looking for wholesale buyers/Specialty Restoration Partnerships

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
Welcome to BP! Looks like we're in the same boat, here. I'm relatively new to BP but have been in Kansas City real estate for over 6 years. I'll message you and hope we can connect.
Post: Why not just go to a real estate agent?

- Real Estate Investor
- Kansas City, MO
- Posts 63
- Votes 19
In my business I have found that the sellers who contact me are usually in a situation that they 1) need the money NOW and are willing to take what they can get ASAP, 2) have a property that requires more work than they can afford to do to make it market-ready, 3) have some other motivation for wanting to move the property fast and money is not their primary concern (divorce, job transfer, misc family situations, feel unsafe in their area, medical issues, etc), or are about to lose the property because of tax liens they can't pay, and so on. There are actually a lot of reasons that sellers call investors instead of real estate agents. I actually make a point of explaining to sellers that they would make more money by going through the process to list and sell the home...but 9 times out of 10 they already know that and had some other reason for not wanting to go through the listing process. That's why I see this business as providing a service instead of taking advantage (as some do). I am helping the seller solve a problem that traditional real estate agents can't help them with. As long as the numbers and sale price work for both the seller and the investor (me), I tailor the transaction process to serve their needs...and at the end of the day almost every one of them is grateful to me for doing so. But then again, my attitude is one of service. Wholesalers who don't educate their customers, follow through on their promises, or try to mislead the seller (even by omission of certain aspects of the process) give the rest of us a bad name.