All Forum Posts by: Ryan Fox

@William Robison- Thank you for your insights.  

For C class properties, are you seeing tenants who could qualify for A / B class units downtrend into C class?  Is that how fear is translating into more interest in C class?

I would also recommend Kansas City.  It certainly has lower taxes and more population growth than Chicago.  Closing costs are also lower.  I bought a 4-plex in KC in 2018 for $275k, but it was in an A class area.

Congratulations!

I'm so sorry to hear that, Laura.  Does your homeowners insurance have coverage for something like this?

Looks nice.  How long did it take to complete the rehab?

We often forget that the Great Financial Crisis was accompanied by a huge spike in oil prices in 2008.  This led to a recession.

Now, oil is doing something different.  Russia shocked the world by refusing to cut production last week.  This led to a 9% fall in oil prices in one day.  Russia did this to take direct aim at small producers in the US oil industry, which cannot survive with oil at $40 / barrel.  These small producers are heavily in debt, and their eventual defaults could have ripple effects across the financial system.

So while the media is obsessed with Covid-19, it's important to consider other things that are going on.  Investments in areas heavily dependent on the oil industry are going to be hit by the double whammy of Covid-19 and low oil prices.  

Agree with @Alex Olson that Kansas City has some good opportunities.  Property taxes are pretty low.  There are local areas to position yourself in the path of growth.  Landlord / tenant laws vary by jurisdiction.  

@Pete M.- No, no inspection.  I'm not even sure one is required at the start.

@Pete M. I registered my new property there earlier this week. The fee was $40 for an SFR. Did the City already assess a fine on you for not having it registered?

@Evan Liu- I've been investing in Kansas City from out of state.  Feel free to PM me for recommendations.