All Forum Posts by: Andrew Syrios
Andrew Syrios has started 74 posts and replied 10135 times.
Post: Re-fi trouble Refinance in Kansas City MO
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Try Bank 21 in Blue Springs.
Post: New member from Los Angeles
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BiggerPockets Edward and best of luck investing!
Post: New Member Currently Residing in Geneva
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BP Jovana and good luck investing!
Post: Private mortgage - single or blanket?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
I would absolutely underwrite everyone separately and with only three, I would probably just do separate loans. But I don't see any problem cross collarteralizing them other than it gets a bit messy. Any you can also provide separate releases allowing the borrower to sell or payoff one at a time. Just make sure you have a value attached to each property and I would make him pay off 110% of its loan value or thereabout to get a separate release.
Post: Hello from Jayraj, SF Bay Area
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Originally posted by @Jayraj Jog:
Thanks for the warm welcome @Andrew Syrios @Chris Mason I read your blog post (The Case for Managing your Rentals Yourself) and was wondering if you had any thoughts about how close you should live to be able to manage a property effectively yourself vs hiring property management. I know from your video on your profile (which is great btw!) that you don't recommend investing in out-of-state properties, but how close is close enough in your opinion? Thanks for your time :-)
That article assumed you lived in the same city and I think you really have to live in the same city (preferably 30 minutes and really no further than an hour away) to properly manage your own rentals. I should note, I don't think all out-of-state investing is bad, it just needs to be done very, very carefully. And when it is done, you'll need to hire a property manager.
Post: Investor starting out in Iowa
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BP Cory and good luck investing!
Post: New member
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome aboard Jeffrey and best of luck!
Post: Best systems to collect rent from tenants
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
PayNearMe is something you should check out as well.
Post: What is the best strategy for the coming Recession?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Originally posted by @Josiah Mann:
Thanks @Andrew Syrios. I'm pretty certain I've watched a few presentations your dad has online - one in particular for 'building a real estate empire'. Aren't you the father/son/son team here in KC?
@Darren Budahn, thanks for the comment. I didn't mean to discuss the economy generally in this thread so just consider it a hypothetical :)
Yup, that would be us.
Post: Best cities for cash flow
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
The cities in the midwest and south are generally the best, i.e. Raleigh, Memphis, Kansas City, Oklahoma City, etc.