All Forum Posts by: Ryan Sajdera

I think this is where economy of scale comes into play a little bit, but that really pertains to some of the major CAPEX items like roofing, etc. Don't forget that you're not only getting cash flow, but you're getting appreciation, tax benefits, and your tenants are paying down the mortgage. You really have 4 legs of the real estate stool making you money. If one goes away (monthly cash flow) to expenses, well you still have 3 other legs keeping your stool up!

Definitely following!  @Stacy Edwards have you personally used UpWork before? I just heard about them today. 

Hey! Welcome to MHK! I think everyone hit the nail on the head already. Its a tough market but there are some solid investments to be found. Have you considered JC at all? There are some more affordable duplexes out that way. 

Ryan 

Originally posted by @Andrew Fink:

@Ryan Sajdera Thanks for the insight! I'm also looking into a virtual closing for a deal. Did you have to get it approved by the title company? When I inquired about closing virtually, the title company wanted me to pay an additional fee for them to send someone to my house to sign the documents.

 @Andrew Fink  The title company sent me the documents to print etc. I just held a phone conference with them when signing to ensure all the technical data was as technical as they wanted. They can get a little picky with signatures etc. I had to pay about 50 bucks to have the notary complete their share. It wasn't too bad. 

Ryan 

We just recently closed on our first 'virtual' deal. I printed 94 pages of closing documents, did a telephonic closing with the attorney, went to UPS to have a notary sign the appropriate documents, then overnighted to the attorney's office! It was pretty cut and dry, but they wanted a digital copy before I mailed to ensure signatures were all as they should be. It took me the better half of the business day to get everything done and sent.

@Alex Olson Thanks for the reply. I have since been trying to use some of these strategies in my investing but what i've learned is that the banks are very leery about them and they are usually held in escrow then released appropriately and proportionately dependent upon the type of credit and what it is being used for. Not undoable, just need to be VERY clear with the bank what your intentions are. 

If you've ever dealt with the VA you'd understand why lol

If its in the food plain, then you will be required to purchase flood insurance. The Flint Hills have gotten TONS of rain in the last two summers so I would just caution you about buying anything in the low ground.  As far as the basement issues go, most homes are slab there dependent upon where you are buying. If i remember correctly, northfield area has some newer homes but special taxes that will eat your cash flow. I believe that’s in Pot county on that side there so your general taxes are a little bit lower. Are you living in MHK currently? 

Ryan

Originally posted by @Juan Esteban:

Currently deployed but will be going back home(fort Riley) here in the next couple of months. Would love to meet up and chat.

Sounds good!  We will be back in November. Let's link up!

Ryan 

Manhattan is a unique market but it is widely fed on a campus and a military base. When the base deploys, expect to see rents drop in and around the area. We had some major vacancies earlier this year from that.