All Forum Posts by: Maddy Morell

@Erik Estrada -- Thats what I was thinking as well. Appreciate your insight! 

These are on separate parcels, so 2 DSCR loans will likely be the cleaner path, especially if the comp approach is what's driving value.

The seller also owns an 8-unit in the same town that’s fully leased, though I don’t believe it traded on-market. There aren’t many other multifamily sales in Baldwin City to lean on for comps. Do you think that will affect ability to appraise these? 

Also - are you a commercial lender who also does residential portfolios, or do you have contacts in that space? I’d love to get a sense of options if a buyer wanted to bundle this package differently!

@Nate Herndon -- 

Thanks for breaking that down — very helpful.

We've got the 3-plex + 4-plex package priced at $725k. Current NOI is around $29k, with projected/stabilized NOI closer to $53k once fully leased and with a couple units finishing renovation. 4/7 leases were just renewed close to market rent, but not as high as are updated units are projected. 3 vacant, 1 just renovated now being marketed for rent and should be occupied prior to closing. 2 will likely be renovated prior to close, but not sure they will be occupied w/ rents in place prior to closing.

Would this type of situation still qualify for two separate DSCR loans (one for each parcel), or would the combination of rehabbed units and slightly under-market leases in place on 3 units make approval more difficult?

And more generally — is there a max purchase price or loan size that DSCR programs will allow on 2–4 unit properties?

📍 Address: 225 N. 7th St., Kansas City, KS

🏢 Property: Mixed-use building with 1 upstairs residential unit + 2 main floor commercial units

💵 Price: $399,000

✅ Highlights:

• Both commercial units fully leased at $1,000 & $1,050/mo

• Upstairs residential unit leased at $1,000/mo

• Two of three units fully updated

• Building improvements: new furnace systems, updated water heater, new roof, resurfaced parking lot

• Basement with exterior access — previously finished office space, currently storage. Potential to be built out again for added value.

📑 Financials:

Current rent roll and OM available upon request. Showings by appointment with qualified buyers.

👉 Interested?

Message me here on BiggerPockets and I’ll share the full packet and details!

I’m working with a seller in Kansas City, MO on a 50-unit multifamily (studio lofts, built 2021).
The seller is open to creative terms, including possibly redoing the existing loan in the buyer’s name or seller financing with a significant down payment and selling Off Market Only.

For those of you experienced with creative financing on larger multifamily:

• What’s the best way you’ve structured deals like this?
• Do you see more success with seller carry, master lease options, assumption of existing debt, or another structure?
• Anything specific to watch out for with lender approvals on a property this size?

Would love to hear how others have approached this, and what creative strategies have worked for you in larger multifamily vs. smaller deals! Thanks!

– Maddy

Licensed Agent, KS & MO | The Bridge Team / 1st Class Real Estate KC

Equal Housing Opportunity

I’m licensed in KS/MO and work with The Bridge Team in KC, focusing on multifamily and mixed-use properties. 

Curious who else here is actively working with investors or focusing on multifamily in the area? 

Would love to connect and maybe share resources or deal flow!

I’m working with Invecstors who want to sell a 4-plex and 3-plex together on neighboring parcels in Baldwin City, Kansas.

Total 7 units, being offered as one package.

Would this be better financed with a commercial loan, or with two conventional loans (one for each parcel)? 

Curious what lenders here have seen work best and why.

Also, does anyone here actively lend on this type of property in Baldwin City, KS?

Thanks in advance for any insight!

-- Maddy

Licensed Agent, KS & MO | The Bridge Team / 1st Class Real Estate KC

I know a lot of investors focus on the Kansas City metro itself, but I’m curious what others think about nearby markets and smaller cities.

For example, I’m currently involved with properties in:

• Kansas City, KS — less than a mile from downtown city center
• Baldwin City, KS — small college town with steady rental demand
• St. Joseph, MO — new deal coming soon, different tenant base and price point compared to KC proper

Do you find the fundamentals hold up in these “secondary” spots versus staying right in the city?
Have you had success with multifamily outside of KC, or do you prefer to keep it in the core metro?

Would love to hear how others weigh these markets and what you’ve experienced.

– Maddy

Licensed Agent, KS & MO | The Bridge Team / 1st Class Real Estate KC

@Josephine Ch there was a great FB Group in Kansas City with Canadians Investing in the market. Have you searched Facebook Groups yet?? 

I've helped Investors purchase properties here in KC from Canada - totally doable! Are you looking for SF or MF? 

@Alev G. -  Great question! I’ve found the fundamentals for multifamily don’t always line up with what people recommend for single-family. 

Kansas City is one market that works well for small MF because prices are still reasonable compared to rents, and there’s consistent demand across both workforce housing and student/young professional tenants.

I’m currently working on a couple examples here — a 7-unit package with value-add potential and a mixed-use property in KCK that’s already cash flowing. Both show how KC can offer solid cash flow with room for upside. Let me know if you'd like any additional info and I'd be happy to share! 

Welcome! The best first step is to pick one clear strategy (buy-and-hold, BRRRR, etc.) and focus on that instead of trying to learn everything at once.
In KC, make sure you run numbers conservatively (rents, taxes, CapEx) and talk with a local Agent & PM before buying so you know what your property will really perform like.

If you’d like, I can share an example of a current multifamily deal here in the area so you can see how the numbers break down -- let me know - I'd love to help!