All Forum Posts by: Patrick G.
Patrick G. has started 3 posts and replied 21 times.
Post: Building team in Kansas City, MO
- Oakland, CA
- Posts 21
- Votes 8
Originally posted by @Jim Workman:
I got my best residential rate from Stifel Bank in St Louis (had some acquisitions there at the same time.) I got an even better rate on a KC 12-plex from my local bank, USBank.
Thanks, will take a look!
Post: Building team in Kansas City, MO
- Oakland, CA
- Posts 21
- Votes 8
Originally posted by @Jim Workman:
@Patrick G. I used William Robison (on BP) as my RE broker in finding and purchasing my KC-area properties. Now he manages the properties. He has kept expenses down and occupancy up. I am very happy with my decision.
You won't see him greeting every new user the way the turn-key providers do, but he will help you find a good property.
Hi Jim,
Thanks, I am working with William so I am good on that front. :-)
Post: Building team in Kansas City, MO
- Oakland, CA
- Posts 21
- Votes 8
Hello BP'ers,
Finally gearing up to take the plunge in Kansas City, MO and am looking for attorney(LLC and real estate) and investment-friendly broker/lender recommendations (preferably fellow BP'ers).
Suggestions welcome.
Thanks!
Patrick
@Jeff Pollack Thanks for the perspective and the sage advice!
@Adam Kent Well of course I'd love to find the 2% holy grail, my initial plan is to shoot for at least 1.25%-1.5% including property management fees. I am not certain how doable that is without understanding the market, players, and offerings for PM services in KC so that is one of the many items I am in the process of researching.Once I have done that I think I will have a better feel for what is feasible.
Best,
Patrick
@Vicki Stewart Very kind of you, thanks! Will likely head out there next month for a few days to get a feel for the area, check out some properties, etc. I would be very appreciative of some perspective on the various neighborhoods. I am looking up crime stats, etc. but they only tell part of the story. Will PM you.
Best,
Patrick
Post: HomePath mortgages
- Oakland, CA
- Posts 21
- Votes 8
@Erik Palmquist Who did you use for your financing and what was your experience with them?
@Engelo Rumora @Mike D'Arrigo Thanks for the suggestions. After spending most of yesterday doing the virtual equivalent of throwing darts at a wall (looking at a map then checking prices in random areas within a three state or so radius) I ran across this: http://www.realtytrac.com/content/news-and-opinion/best-and-worst-markets-for-rental-returns-heat-map-8023 . Spot-checking it revealed that it seemed to be pretty darn accurate so I decided to go where the market is rather than where I wished it was. :-) I am looking into Kansas City now which seems to have a lot of potentially good deals.
Thanks again for all the thoughts and recommendations!
Best,
Patrick
@J. Martin Thanks for reaching out. It would be great to connect with others so I will definitely try to make it out.
Hi David,
Totally understood. I have a friend that has a couple of turnkey properties in Memphis that are working out pretty well for him, however the travel would be a killer as I am pretty insistent on doing my own due diligence in seeing any properties/neighborhoods I'd be buying in so I will definitely try out the keyword alert suggestion, thanks!