All Forum Posts by: Gianni Laverde

Great success story!!! Thanks for sharing. 

Good morning BPers,

I closed on an out of state (Kansas City) rental unit. The PM uses Appfolio and when trying to set up the ACH transfer to deposit rents to a bank account in NY, Appfolio (which is based in CA) stated to my PM that they can not do ACH transfers to NY because of 'NY Banking Laws' but they didn't provide to her further information on that.

Has this happened to anyone else whose PMs use Appfolio or other similar app to get deposits from Out of State to NY or any other state? Are you familiar with those Banking Laws Appfolio mentioned?

Thanks in advance for your input.

Gianni

Looking forward to attend. I already signed up. Thanks for putting it together

@Damon Bodine

Hi Darren, thanks for setting the meetup. I will be there! 

Thanks @Rachel Bier . I will check with Affinity as well!

Thank you @Eric Delcol @Steve Ipock @Larry Fried @Laura Williams for your feedback. Ill reach out to Foremost, Shelter and Partners. Laura, I will PM you shortly

Thanks and have a great day!

Hello Biggerpockets community, I am looking at pulling the trigger to purchase a Duplex in Kansas City. I am still really confused about whether insurance is paid with the Mortgage or it's paid separately which affects my calculations on cash flow. Anyway, I'm wondering what current investors in Kansas City are paying for homeowners/landlord insurance. From the Proforma i got from my broker, it quotes $60/month for a $156.000 duplex. It has 2 3/2 units and it was built in 1974. Is it realistic? I called GEICO and they are quoting at $125/month, which is twice as much as what it was quoted. Im wondering if there are other companies that focus solely on Landlords insurance and can offer etter rates and coverage in comparison to the big companies that offer several products.

Thanks in advance for your feedback.

@Chris Dawson thank you very much for your input on this. I will contact you to discuss further what opportunities are available to invest in KC.

Regards

Gianni

@Chris DawsonI want to start with 4 units (a fourflex or two duplex), using conventional bank financing staying below the commercial threshold. Definitely, i'm not in the position (yet!) to purchase a building. I'm inclined to MFH looking at it from the scalibility point, from the maintenance, mgmt point the ability to acquire more units on 1 transaction and 1 financing. I definitely want to stay away from the bad parts of the city to avoid major headaches. Your recommendations are really helpful. Thanks a lot. When you say that with more than $500K to start thinking about buying multifamily, is it if i'm looking to buy All Cash? I was doing some research and saw some alleged TK duplexes and/or 4plexes at around $50k per door on considered good locations in KC. Are those numbers realistic?

@Amanda Hanjust got the book. Looking forward to read it. Your podcast was awesome too!