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All Forum Posts by: Andrew Syrios

Andrew Syrios has started 74 posts and replied 10046 times.

Post: New and trying to figure it out

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Welcome to BiggerPockets Erica and best of luck investing!

Post: What’s your thoughts on Owner Financing

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

It's definitely a good tool in the toolbox for any investor but I generally find them to not be useful. First off, many sellers don't have sufficient equity to offer seller financing. And even if they do, they have to be fairly motivated to be willing to do so (even if you've built rapport and all that good stuff).

If they are motivated, usually that means the property needs work and they almost certainly won't lend over and above what you buy the property for. So you'll need to bring your own money to do that. And they'll want you to pay off the loan pretty soon (and usually will you as the rate will probably be higher than banks) so there's that too.

For this reason, we definitely prefer private lenders as they will (if you've built trust with them) often lend on the rehab too. But of coruse, getting private lenders isn't exactly easy. So there are definitely times when owner financing makes sense. 

Post: Getting Started in Short Term Rentals

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Welcome aboard Tyler and good luck investing!

Post: New Member Introductions from NC

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Welcome to BiggerPockets (and KC investing) Tamara and best of luck!

Post: New to Austin, new to RE

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Welcome to BP Anthony and best of luck investing!

Post: What is the good location to buy a rental property for 250k cash ?

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

There are a lot of good areas. I would stay out of really rough areas in expensive cities because those are risky and can be management headaches. Your best bet is in the midwest or southeast. Places like Kansas City, Oklahoma City, Nashville, etc. 

Post: Maine REALTOR, New to BP!

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Welcome to BiggerPockets Kyle and best of luck investing!

Post: Our first Investment property

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Congrats Kendric! Hopefully the first of many

Post: New Aspiring Investor

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Welcome to BP Frank and best of luck investing!

Post: Hello new investor HERE!!!

Andrew Syrios
ModeratorPosted
  • Residential Real Estate Investor
  • Kansas City, MO
  • Posts 10,400
  • Votes 5,049

Welcome to BiggerPockets Jason and best of luck investing!