All Forum Posts by: Tim Kappel

I plan on buying at least 1 property this year so I would like to find someone who would be willing to take on a new client for taxes. I am currently doing my taxes on my own but I would like to find someone and develop a relationship with who would want to take on my taxes for 2020, 2021, and years to come. They obviously do not have to live in St. Louis, MO but I would like someone who is a REI themselves. That is where I am located. While I plan on learning the tax code as I get more into real estate, this is something I am gladly going to pay for help on. Thank you

Looking for suggestions on St. Louis, MO lenders to work with that are REI friendly. Does anyone have any good suggestions? Ones to stay away from? I was going to start with the local Credit Unions.

Those are all great David!  I phrased so those as "jumping off" questions but you offer a lot of good suggestions. I'll have to adjust some of mine. I forgot to add about when would I receive my money.  Seems really important!

Hello

As I start out in this career of a REI, I am looking to interview some people for my team. I have a list of questions that I have put together form books, forums, podcasts, etc for 3 key players on any team. Does anyone have any good questions to add? Are any of these terrible? Thanks for any and all advice!

• Lender
• How much am I able to borrow (pre-approval amount)
• What is the current rate for investment properties
• How long is the “seasoning” period before I can borrow money against the property
• What is your LTV %
• What are your closing costs (breakdown)
• How much it will cost to buy down the rate
• What is your “cash out” refinance rate
• Does lender work with out of state investors
• How quick can you close

• Property Manager
• What are your fees (flat fee/% of rent)
• Do you have references
• How many are you currently managing
• How often do you check in on tenants
• Who keeps the damage deposits
• What do you charge for evictions
• Will you advertise and show property while occupied
• How long does it typically take you to turn a property around between tenants
• Do you conduct background checks on tenants
• Do you take photos of the property before and after move
• Do you offer a tenant placement guarantee
• How do you handle calls for repairs, do you try to solve the problem before sending someone out
• Do you establish a threshold $ amount on repairs above which you always call the owner
• Who do you use for repairs

• Contractor
• Are you licensed and do you have insurance
• How long have you been running your own crew
• Do you have a list of references
• Will you be using any subs on this project
• Do you give out warranties
• Have you ever had any legal action filed against you
• How often do you communicate with your customers
• How do you clean up your jobsite and what does that mean to you
• How many projects do you have going right now
• What will our contract look like
• How and when do you like to be paid

Hello Dylan, I just started out as a REI investor. I feel like I have read enough books now I just have to put some plans into action. I'd like to connect with you. It's always nice to be surrounded by people who are focusing on the same goals as you. Good luck!

@Jamie Fankhauser

Rich Dad Poor Dad was the book that flipped the switch in my head and got me thinking differently about money and my job.

@David Ounanian thanks! I’ll sign up.

@John Whitfield

Hey! I sent you a connection to try and build up a network.

@AJ H. Thank you! I am looking for for cash flow to help replace my 9-5 job and spend more time with the family. I think I’m going to sign up for the pro membership so I can use the calculators on here to analyze deals. I have a few excel sheets that are ok but I’d like to compare numbers. Hope you have a successful 2021!

I am hoping to purchase my first property this year.  Still going through all of the learning and calculating numbers.  Are there any brand new investors around the St. Louis, MO area?  It would be nice to connect with people who are on the same journey and just starting out.