All Forum Posts by: Steve Ipock

You should really have an LLC that owns each property. Reason being if your LLC gets sued they could get any assets that it owns. Then have your main LLC own each of them. Then you own that LLC.

You will need to file your main LLC in each state you do business in as a foreign LLC. once you do that you can create a LLC for each property with your main LLC as the owner. In Missouri for sure you will need to have a registered agent that lives in the state.

If you have questions feel free to call me. 

@Ali Boone interested in Kc mfr? I'm from Kc. Let's connect.

hey Austin

Kc mo here. Welcome to BP. 

@Mark Alexander

I checked into this to see more. My understanding is that as far as time goes you have 90 days to complete the outside & 1 year to complete the entire house. 

Also they removed the occupancy restriction. Investors can buy them for resale. I heard but can't find proof that if an investor buys, repairs it in the time frame & sells the property to an owner occupant that the investor can get an 8500 rebate back on the house.

My confusion is why do they care what you do with it after you fix it up? I mean they say the cost to tear one down is 15k. So the math on that x 230. Kansas City would be millions ahead to let us rent it out or even let it set at our loss as long as it's fixed up.

I think they want to tear them down so eventually they will have nothing but vacant land & they will rebuild the areas with a large developer & turn it around 1 neighborhood at a time but really is anyone in charge at the city that  much foresight? Likely not! 

My point about these houses that's offered is they are worthless. I'm invested heavily in these areas and plan to double the amount of properties I have this year and I won't touch the buck houses.

Why would anyone buy them? They have around 5000 houses and they are selling the crappiest 230 for 1.00. Imagine how they look. I've drove by several and I wouldn't touch them for a buck.

The city is just doing this to say they tried to give people a chance to buy as cheap as possible on their next 230 they planned on demolishing. The deadline they have to buy is very short as well. They didn't intend on anyone buying any. They just done this because of that documentary (our divided city) that aired about the city owning all these run down buildings and contributing to the blight. Their just trying to kick back on the documentary beating the city government up for not doing anything.

Hi Kevin

I'm located in Kansas City as well. Welcome to BP. If I can assist you with anything let me know. Happy investing.

I'm in Kc contact me if I can be of help.

I would be interested in discussing this further. Message me to discuss.

I would like information on all of these. What are special financing terms on the 93. My email is in my signature. Thanks.

Continental title seems to have the cheapest fees. I use the on on college in opks but they have several locations.

Would like to know a good lender myself. Better yet a cash investor. Any out there? Message me.