All Forum Posts by: Scott Bowles

Good morning everyone,

Quick question on financial due diligence, we have an accepted offer on our first actual commercial property (8 units), the financials they sent looked good, but how do you guys verify what they sent is actually the revenue and expenses for the past years? Do you make them provide bank statements? Any info is appreciated thanks!

Best regards,

Scott

1000 times sell and this is a great time to do that, you can even exit with a good profit. With $80k even in this awful buyers market you could do better, that’s my opinion ;)

To find a 10 cap you need to employ some marketing strategies, I wouldn't say it is impossible, but those deals are not going to be on the market. I  have had some luck getting close to those returns recently but my experience is in smaller multi unit stuff than you can afford. I was looking at some smaller commercial deals >$1M but they have very tight cap rates.

@Matt K. where did you see that I would definetly check it out...

@Dan Krupa yeah sounds good I would prefer to work with someone on here so let me know once you do! Is it commercial or under 4 units?

@Dan Krupa @Sandi Hague thanks I will dive in a little deeper now to if the investment makes sense. You guys seem to have some great cashflow opportunities!

Just trying to be honest but if someone asked me to verify that I owned drapes id be pretty pissed off. I did have a renter who moved out with a lot of appliances and it was unclear if I bought those with the house or not, so I suppose there is a balance. I guess I would advise to tread a bit lightly and not make any major waves as turnover is a killer especially if they are good people.

@Dustin Hawks Near rosedale park in Kansas City...thanks!

Good afternoon,

How is the Shawnee heights area of Kansas City, Kansas? I am hoping for like a B- investment area and was wondering what the community thinks about this area? Any help is appreciated!

Scott

@Quinn McCann there is a REIA meeting at the huddle on Nov 2 that would be a great place to meet some folks. I went to the last one and was glad I did no sales crap just other people in real estate looking to network. We are fairly small time investors but have a handful of deals in Salt Lake and out of state if you want to reach out shoot me a PM!