All Forum Posts by: Samantha Soto

Hello, I am looking for lenders in the Kansas City, MO area who work well with investors.  Can anyone make recommendations?  Or are there perhaps some lenders on here I could connect with?  

Crazy @Gagan G., I'm a Grass Valley native.  Jealous you live there now, it's beautiful!  I miss it.  Also, thanks for offering to run an errand.  I can't think of anything off the top of my head now, but I definitely appreciate the offer. 

Also look into Morris Invest and Neu Real Estate Group.  I have never worked with them directly, but I had phone calls with both.  They are worth looking into.

@Christy Harris thinking of doing a fannie mae homestyle loan for the next purchase and wanted to start interviewing contractors for that.  Also, would be nice to develop a good relationship with a contractor who can look at houses for us and give us an estimate of rehab needed.  

@Gagan G. I used to live in fair oaks ages ago!  Good area.  Exciting to be doing such a large apartment deal! congrats to you.  My dream someday!  pm me your email address and I will send you the list of contractors I have gathered so far.  

Can I please get some referrals for excellent general contractors in the Huntsville, AL area?  Thanks in advance!

Hi @Bradley W..  Welcome to BP.  I grew up in GV.  I miss the area a lot.  Do you know Justin Schmidt?  He went to Bear River my year and now does a lot of great flips.  He would be a good person to talk to.  Sounds like you have a lot of great contacts though already!  Best of luck as you start your journey.  My only regret is not starting sooner, so good for you for starting now!

@Franky Maslim, Millionaire Real Estate Investor was the first REI book I read back in 2012 that lit the fire under my butt to begin with. It was so eye opening! My dad knows about my book reading goal for this year, and bought me a few books for Christmas including Millionaire REI. Since I already own it I told him to keep it and read it, and maybe he will be as excited about REI as I am!

Congrats on your recent purchase!  May it be a profitable one for you!

Thank you all!  This info is helpful!  I want to keep buying more properties, but also do not want to neglect my reserves.  I think my idea with 5k/property was that money could always be pulled from another property's account if absolutely necessary to cover repairs/capex/vacancy etc.  However, being as I only own 2 properties right now, 10k is not a ton of reserves.  Once I have 5 properties and 25k put away I might feel more secure to face whatever arises.  I love hearing everyone else's process and way of thinking about it. 

When you say 6 months reserves, could you be more specific? Do you mean 6 months of PITI payments?