All Forum Posts by: Lawrence H.

@Jerry Cloe - yes Line Creek that runs through Riverside. There are some multi-families... along it. Shame that although the area is nice / close to the river and has a lot of walking trails, it's in the floodzone. Does that area flood often?

@Alex Olson - thanks for the contact! I just reached out to Adam and he was helpful. Unfortunately, the flood insurance amount may be enough to kill the deal :(

I was thinking if we could get seller financing, we may not need the flood insurance, but if there indeed is history of flood, may be shooting ourselves in the foot. Trying to think of some other creative avenues. If not, may have to reduce purchase price.

Hi BP!

Is it common for refinancing banks to require a personal gtee even if they're lending to an LLC? Isn't the point of the LLC to limit risk to the investor? Additionally, if there is a personal gtee, won't the loan show up in a personal credit report and affect DTI? Understand the lender would want extra protection but they technically already get the property as collateral since they have 1st lien position in the home.

Next to East Creek near Missouri River... why do you avoid Indian Creek / Brush Creek?

I can take a look as well if you pm me the link Tim

Hi BP! Any good insurance brokers (especially flood) recommendations in the KC area? Looking at a multifamily near a flood zone, current flood insurance is around $7k a year according to the seller... wanted to double check to make sure that was right. 

Potentially thinking of trying to get it rezoned as well but that may be a harder route...

@Riley Quinn Riley - thanks for the tip! I’ve (unfortunately) had to learn that the hard way. As the saying goes, you get what you pay for sometimes.

@Brianna Reynolds thanks for the warm welcome! I will reach out directly :)

@Mike D'Arrigo cool, will share any findings if they work out!

@Caleb Brown thanks! Will reach out

@Scott B. Thanks for the rec! I will reach out to them.