All Forum Posts by: Tyson Hosey

Those sound like awesome steps. Mine is more of a buy and hold situation so the GC parts of it won't be necessary. I had my property management ready to help me when I'm ready for the next step. But the duplex already has both sides rented out, and the current owner has apparently made a ton of renovations to the place (I assume to make it sellable). So an inspection would be a good idea just to make sure everything was done correctly. But still not sure who I should talk to first, the lender or the seller..

hey @Chris Marshall Where are in Missouri are you looking to invest? I'm originally from Poplar Bluff and have a bunch of family in Sikeston and Cape. Have you looked at numbers or properties down around that area?

I've only ever put in an offer to buy my primary residence, and for that I was pre-qualified for it then I went out looking for a house. Most of the lenders that I've talked to say "show us the house and we'll close in 30 days". Its completely backwards for me and I'm wondering how that usually works. I'm wanting to buy a "for sale by owner" duplex. Do I put in an offer then go to the lender? Do I go the lender with this potential property. How does this work? 

Side note: I'm purchasing it through my LLC, so if it's a small bank it would be a commercial real estate type loan. Individual/PML/lending companies probably wouldn't make much of a difference if it were an LLC or not.

@Mindy Jensen AHHH I see. I thought it was pretty practical so I assumed that someone else had thought of it before me. Was just curious as to why I didn't see it now.

Hi @Hilary C. I had a couple suggestions that I posted yesterday in the forums that I'll pass on to you.

We have the ability to forward a thread on to someone via facebook, twitter, linkdin and email. I feel like we should also have the option to send that thread to another BP user that isn't involved in that thread, but we don't want to "tag" them in it.

The other suggestion was including a "jump to the last post" button on the inside of the thread. I know there's one as you click to read the thread, but not one once you get into it.

@Atwan Kwan sorry for the scattered post. I guess the risk is that you're trying to set standards where tenants can be a little rough. So sticking to standards would be tough and you might go without tenants for a little while, while searching for solid tenants. I could see how it would be easy to slip on standards and run yourself into some trouble. 

@Atwan Kwan I can't imagine that one could change an entire town/city by having standards, but I feel like they could set the proper standards. It would be a few very lean months I'm sure, but if the PM and the investor could stomach the lean times then they could find good tenants. And from the investment side, if you have enough properties with a property manager who knows what they're doing, sticks to their standards, one could have a significant impact on the market. Was that the intention and it just went south after a while?

@Logan Allec it's in Southern Missouri. I grew up there so I'm super familiar with it.

I have an interesting theory about being a property manager and/or property management group. I know of an area that I'm very familiar with that would be pretty good for purchasing rental properties. However, there are no PM's there to manage those properties. I know there are deals to be had, but since I'm at a distance I'd need a PM. I have family in the area that are business minded and are very interested in real estate and ready to take action.

So.... If you were going to be the only game in town...would you do it?

@Brie Schmidt that's true, and I do use that. I was just thinking about if it was a thread that I wasn't really interested in or actively posting in, but I knew a colleague would benefit from the conversation, I could just share a quick link with them. On something like Instagram I would just tag them on a random picture so they could see it, but I thought that might be a little strange to do on a thread I wasn't participating in haha