All Forum Posts by: Tesho Akindele

Me and my partner are purchasing a portfolio of single-family homes. We have been talking to banks and some private money lenders, but have found that most want each house in the portfolio to be valued above 50k. In this particular portfolio, some property values are above that number, but some are below. Are there banks or lenders who specialize in low cost per door loans? 

@Matt Carruesco make sure you find a place that has a growing population. If you’re planning to hold for the long term that’s very important!

Also, don’t get too caught up in picking the “perfect” market. People are successful in many different markets. Finding a good team is just as important as picking a great market.

@Caleb Brown I've also seen you talk about the Blue Hills neighborhood. Do you and your clients ever invest in the neighborhoods on the eastside of 71? Or do you stay on the westside and other suburbs? 

Hi @Nate Chenea

I'm also investing in Kansas City from out of state. I have a property in the Blenheim Square neighborhood. I think it is a great location for investing! I haven't had any problems with crime in the area. So far rents and property values rising, and I have a solid tenant. 

I don't have any experience with Foxwood East, but I'm sure one of the locals can help you out. Good Luck!

I was about to post this same question @Lance Carpenter.

I am in the process of closing on a portfolio of 9 properties in Kansas City. We got inspections and they all need a little bit of work. So I’m looking for a good handyman too!

Welcome to BiggerPockets @Sam Mayberger. I'll give you my opinion on the four questions you asked.

1. What is the most efficient way to create my desired cash flow with my limited weekly time restraints?

If you really have no time at all you may want to look at working with a turnkey provider. With the type of money you say you'll be saving you should be able to buy 2-3 turnkey properties per year. If you can find some time you will be able to get better returns and reach your goals faster if you buy properties that need some work. 

Living in Kansas City is also an advantage because it is a great cashflow market. You could look into house hacking, or even just buying a place with a low down payment and moving after a year to help speed things up as well. 

2. How scared of the impending market correction should I be?

None of us know what the future holds. If you can find a good deal where the numbers work today you should pull the trigger. People are always worried about an impending market correction.

3. Would it be more advantageous to wait to invest in order to stockpile cash to purchase multiple properties when prices come down or should I get my feet wet and get started with less than optimal numbers to get experience sooner?

"Don't wait to buy real estate, buy real estate and wait"

4 What is my very first course of action outside of podcasts and books?

If I were you I would connect with an investor-friendly agent in the area. I've never worked with him, but @Caleb Brown is very active on here and seems to be well connected in the Kansas City market. Good Luck!

Hey @Joey G yinmed

BiggerPockets is a great place to find investor friendly realtors. The first step is to pick one or two markets you would want to invest in. After that if I were you I would write a post saying exactly what you want to do and name the city you picked. People in that area will find you. Another option is to just search for that city on BiggerPockets and you will find people who are talking about and investing over there. Good luck!

@Alex Ibarra I really like the Kansas City market. I bought a few properties this year and plan to keep buying there. You can find affordable houses that cash flow instantly and I’m optimistic about the city long term!

Hi @Tristen Mickelson

I think @Jonathan Greene gave a great answer. Focus on building genuine relationships and expanding your network. Provide value to others and you will be introduced to new knowledge and opportunities

That is an awesome goal @Audrey O'Connor! I also identify with the idea of socially responsible investing. I see two phases to that goal. 

Right now I am at the point of my investing career where I am still looking to build, grow, and earn an income. Being socially responsible at this phase means providing my tenants with a safe, comfortable, affordable place to live. I try to fix problems right when they come up. I also am not going to kick a family out just to raise the rents $25/month. I still am running a business at this point though so it is a balance. 

The second phase to me looks much more like a charity. When I get to the point when I can comfortably take care of myself and my family through investments I would love to provide high-quality rentals to low-income families for free or close to free. I imagine buying an apartment complex or a street of single-family homes and bringing families in for a year or two. Give families some time to save up some money on their own and then get in a new group of families. I would even love to offer free financial education courses. 

What does socially responsible investing mean to you? I would love to hear more.