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All Forum Posts by: Jonathan Buerkert

Jonathan Buerkert has started 7 posts and replied 28 times.

Post: Kansas City: Good/Bad Areas

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

My company is about to start buying and selling heavily in Kansas City, KS/MO. Anyone know the good and bad pockets or the investment areas to avoid? You can give me zip codes, directional city quadrants, or neighborhoods.

We usual buy lower end SFR's valued between $20,000 and $50,000, and we want to avoid the higher crime, high rental areas.

Also, we're going to need local services for inspections, pictures, and for sale signs. Know any reliable handymen or inspectors?

Post: Best website for buying wholesale REO?

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

Have you heard of the new site that [LINK REMOVED]? I have bought, marketed, and sold investment real estate on many different sites (Ebay, **********, HudsonMarshall to name a few) and from what I've seen on [REMOVED], they are going to revolutionize the online process of buying and selling investment real estate.

First of all, they immediately allow you to resell the properties you purchase to endusers on their site. Their focus is on seller financing, which is ingenious because as soon as people find out that they can buy properties on a website without having to qualify for a mortgage, they are going to flock to it.

Secondly, their product is directly from the nation's largest lenders, like Fannie Mae and American Home Mortgage. They're buying in bulk so you don't have you. Their purchase minimum is only 5 properties, and yet, your price per property is discounted like you're buying 100.

Lastly, they offer property management services if you buy your properties in a company name, so essentially, you can buy properties in any city or state across the nation. Services include inspection, marketing, and sales including seller financing and servicing of the note. All you have to do is sit back and collect on your investment.

Post: Buy and hold investing in Columbus, OH?

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

I have not had much luck in Columbus, OH with buy and holds. The market just seemed dead. And I would definitely suggest avoiding Cleveland, although there are suburb areas of both cities that are highly sought after rental areas. I owned a property less than a mile from OSU's campus, but everytime I advertised the home, I got more calls from people looking for rentals in the SW area of the city. I would suggesting looking south in the Grove City area or north of Columbus, in Delaware County.

Post: Looking for multi-family properties in MI

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

Would you be interested in a triplex in Muskegon? It needs major repairs, but my selling price is under $10k.

Post: Insuring a MH with No Serial Number

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

Does anyone know if a mobile home can be insured if the home's serial number cannot be found? Or does anyone know an insurance company in North Carolina that will insure a mobile home without the serial number?

I bought a mobile home in Boomer, NC in a bulk REO package a few months back and almost immediately owner financed it to the neighbor. When the bank transferred title, the legal description on the deed only included the make and model of the home. The original owner of the mobile home is long gone, and the home was never registered with the city or county. Also, my occupants have been inside and out of the property looking for a serial number, but can't find one. They're telling me that every insurance company they attempt to get a quote from will not insure without a serial number.

Please advise.

Post: Looking For Birmingham Property Manager

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

Dawn, can I get the name and number of your "maintenance man?" I'm looking for some help with several BHam properties I just purchased.

Thanks in advance.

Post: Vacant Duplex in Pittsburgh

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

Jeff, thanks for the helpful information. This rehab has been a disaster from the beginning...probably the main reason why I don't do rehabs. I could write a short story going through all the problems I've had with this house.

Bottom line, I've already started to move forward with a different agent. Unfortunately, my exit strategy is not well defined. At this point, I'd be glad just to have a couple renters in the place for a while. At the same time, if someone comes along who wants to buy it and the numbers are right, that's my ultimate goal.

So you definitely think the property would be a more attractive buy with renters already in place, right?

JonB

Post: Good Walk Through Form/Checklist

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

Not exactly sure how to post a Walk-Through Form/Checklist to a forum thread, so if you need it, just shoot me an email request, a PM, or let me know here.

Jeffrey K, I'm sending you a colleague request so I can get you your email and send you the form.

JonB

Post: New to BP, from SCarolina

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

We have bought and sold properties in over 30 states. In the past 2 months, we've bought over 60 properties from several REO packages, and we're bidding 4 new packages at the end of August. We're managing and facilitating the sale of each package, and in most cases, the resale of the home to owner occupants and retail prices. These properties are spread from the midwest to east coast. And from Illinois to Florida.

I see you're from Denver. Are you an investor? I've never bought property in Colorado before, but I'm sure the day will come. How's the market out there?

Post: Vacant Duplex in Pittsburgh

Jonathan BuerkertPosted
  • Real Estate Investor
  • Columbia, SC
  • Posts 58
  • Votes 5

Jon, you make a good point about why I'm trying to rent it instead of just outright sell and let the buyer find their occupants. I decided to rent it out because I have been utterly unable to sell it. I started listing it with an agent for $79,900 when the final work was completed on the house, but before I had the occupancy permit. After several months of very little activity, and after dropping the price down to $57,900, I decided to rent it simply because it was just sitting there. I guess I thought the property might be more attractive with positive cash flow already in place.

I've been taking the advice of my agent for rental prices in the area, but the last conversation I had with him last week, he couldn't give me any reasons for the lack of interest or any time tables. I'm beginning to think my agent is unmotivated. He said that he's been marketing the home on the MLS and the internet on sites like Craig's List and has only had a few responses.

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