All Forum Posts by: William Robison

Hello Brady,

Give me a connect if you are still in need of professional assistance in Kansas City. Ive got a suite of services for investors in Kansas City that may be very beneficial for you. I am always willing to work with new investors that are willing to make the investments.

Also, check out my website: www.kansascityinvestmentrealestate.com

That is an interesting idea. However, in the long run, I would much rather set a reasonable market rent and have renters "bid" to get the spot. Having the choice of several potential tenants increases the chances of a better tenant in the long run, which will typically create a better reward than an extra $25 a month. You may find a tenant that will stay 3-5 years and not trash the place over a tenant that will stay 12 months and cause damage, or worse yet, need to be evicted.

Every state has substantially different rules and laws regarding tax lien sales. Your best option is to start with the county collectors office to understand the process. Second, make a relationship with a real estate attorney in that state for the best sound advice.

My state rules will be very different than yours. And do not forget, buying a tax lien does not guarantee that other encumbrances will be wiped away.

Tax liens take education, but can be rewarding. We've got experience in our state, but it took time.

Its about answering the WIIFM first.

Whats In It For Me--WIIFM.

As a real estate broker, I am happy to work with investors that are looking for deals and need analysis. Ive completed more than 10K BPOs in the last 6 years during the bust, that I have that experience for fast, accurate results. On the flip side, for my market area, Kansas City, I provide this service for either a fee based or in some cases an arrangement to use my brokerage services. Likely, though, you really need to prove that you are going to benefit the Realtor before commiting to this arrangement. I prefer to start with fee for service, which in the long run is a few bucks to save a lot of time later. My services are on my website, so its easy for investors to order the services.

Keep a few other things in mind regarding private money.

First, closing costs can be substantially less than conventional. Yes, there are upfront points involved, and a high interest rate, but on a short term loan, calculate your true cost if you keep it just 90 days. You may find that at 12%, you are paying a relatively low amount for the high risk loan.

Second, with the hard money lenders that I deal with, they are willing to fund a substantial portion of the rehab costs as well. You will be very hard pressed to find this in a conventional note.

Third, in dealing with a hard money lender or broker, I have always seen the same rates paid. The true money investor does not have the time, willingness or desire to deal directly with each investor. They also want and expect that brokerage to due a reasonable due diligence on each transaction. Systems are in place to handle all of these functions by the broker. With our lender, you pay the same if you go to the hard money lenders' direct manager, or the local guy.

Factor all of the benefits before assuming that the points and rates are too expensive. Unless you have full cash, the HM lender has advantages.

Exception to the rule is a large, very expensive project. Then go out and track down private investors willing to loan money on your track record.

William Robison, Broker, Storybook Realty

http://www.kansascityinvestmentrealestate.com

Does the county have GIS mapping? That is where I find most everything. Many counties are going to that type of system. Its likely to be found online at the county assessors website.

Good luck.