All Forum Posts by: Matt Altrich

I live in Lenexa - A class properties and the best schools.  

Hi Shannon, 

Unfortunately, this is a common problem in the KC market.   

First, you'll want to get a structural engineer to tell you what needs to be done.   For this, I would recommend Doug Hord with First Choice or Bob Quick with Royal Engineering.  Both names are well known and respected in this city.  

You'll then want to find a foundation company to bid the engineers report.   For this I would use Dirk at John Norris Foundation (his bids are free).  

Everyone is very busy and backed up due to all the rain so this may take a while.  

Good luck!  Feel free to send me a PM if you need anything else.  

I would recommend calling Flat Branch Home Loans in Lee's Summit, MO.  If you send me a PM, I can share my contact.   I have no affiliation with this company. 

Quit claiming properties from your personal name to LLC is allowed per Fanny Mae if the LLC is in the same name. I would suggest getting another opinion on this matter as I've never heard of a loan being called due even before these changes. You'll get a better rate if you avoid taking out a commercial loan.

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Great strategy! 

Andrew,  I'm still buying in Johnson County but almost exclusively with cash and foregoing the buyers agent.  Have you tried door knocking? 

I don't claim to predict markets but I think you'll do well if you have some patience and cash reserves.  A lot of investors are buying high and are wayyy over leveraged.  As Buffet says, we'll see who's skinny dipping when the tide goes out.  On top of that, over 7 million people are 90 days (or more) late on car payments, college debt is exploding, and people are doing cash-out refinances like crazy.  This party can't go on forever.   :) 

Yes, I buy properties every way possible.  You can make a great living in real estate but it's a hustle - there's no free lunch. 

Are you planning to add value to the property to increase the NOI? Have you considered doing a creative financing deal such as a lease back? Do you have any equity in your rentals for a cashout refinance or have you considered a 1031 exchange?

Alina,  have you considered getting into wholesaling?  This may be a viable option to build your cash reserves until you can fund a deal of your own.  Another option would be to work part-time as a real estate agent.  

As previously mentioned, network, network and network.   Attend all the local meetups and talk to people.  Share your goals with anyone that will listen.   

Best of luck.