Forum Replies Created
well good luck on the Independence area, i won't buy there cause it ranks as one of the top cities with methamphetamine abuse in united states. Tweekers are not the type of tenants that i like to have to deal with. Independence is in the metro area but not Kansas City
the news tries to clean up the image, but the comments of people at the bottom of the article ring the truth
http://www.pitch.com/kansascity/independence-meth-capital/Content?oid=2655680
Thanks Jay!
always enjoy your perspective, i don't know to many people that have the knowledge and wisdom that u have gained over the years.
Cash is $KING$
You go to Miami and u won't wanna go back to OZ. If it wasn't for the recession in Florida i would have never left. But, then again i couldn't make the money i make here in Florida
biggerpockets is still free and i'm not a big fan either. There site is down, there server crashed the other day. I'll have to check out somersoft.
Nice, have to check his work out sometime then
Well if you are going to end in Vegas it makes it kinda tricky. I agree with start in Texas and San Antonio would be my top pick in that state. Then drive from Dallas to Kansas City, isn't a bad trip and you can do in a day. Skip Memphis and you can do Kansas City to Atlanta that's a trip. I have done Kansas City to Tampa before with a co pilot and we made it in 20 hours. Time is money and i would want to save some time doing some flying. if you can get a good ticket from a website here. That's a lot of driving when u could be using it at looking at investment properties or extra time in markets you like to see more of. but it's a cool way to see the beautiful country here, i still enjoy a good road trip. If u can spend some extra time in Florida it would be worth it during spring break. A spring break in Miami blows Vegas out the water, but do both and and you will have some stories for ages, hahaha. Oh ya, fly to Vegas from Miami that's to long a drive. would be cheaper to fly than drive with rental cost and gas. I agree, skip Cleveland
I think we are starting to see people thinking about their longterm investment goals and strategies in the US market and understand that this is just the first step… but BOY OH BOY, what a step. I wasn't here for the late 80's unfortunately but for us for now,( I was but just a teenager ) this is OUR time. ( sure is today is the day to buy and hold so 10 to 15 years from Now WOW...
i was just a kid in grade school, but i read about the 80's market and am glad i get to be part of the greatest real estate opportunity ever. It is now my full time hobby/job. I would like to hear Jay's thoughts on how this housing market compares to past markets that you experienced with these type of opportunities.
lol, man. you will have to post a youtube video of you getting the tat and then jumping into a pool of cash, that would be a great in four face video for your website. I know some good artist in Portland, hook you up with some real nice tat work!
I'm still sticking with San Antonio over Houston or Atlanta
hahaha, this forum is the best one i use hands down. You don't get this good of content in the States. I agree a lot with what lawsjs is saying and Jay's type of investment is a good deal. If i could get over the fact that i don't get to hold the note for the property. If I'm wrong on some stuff i say, Jay u will have to cover for me. I read over your investment you offer a while back. The ROI isn't what some people wanna see but the risk to reward is the factor. It's safe and pays great numbers compared to anything else investment wise. Especially with the sharing of the appreciation at the end of the investment. Same with Alex, that post he did of a local deal is sharp and looks solid. Both are good investments, but i would take what Alex's is offering cause that's the type of deal i would do myself. 50,000K (rough numbers, i don't wanna go back and reference, ha) with excellent rents and great potential for appreciation to at least be double in 7 to 10 years. I defiantly agree on the time frame with Alex, the gov pumps the media to make things look rosey here, lol. I am thinking i will have to stop in Charlotte on my way back from Florida sometime and get one of those 67 that you have for sale
Kansas city turnkeys, what a joke. No wonder Kansas city gets lumped in with Detroit and Memphis when people sell C class for 35,000 to 45,000 to investors. You can polish and dress up a turd, but at the end of the day. A turd is a turd, lol.
@ Engelo
just shot me an email or leave me a message on Facebook and we can chat brother. The time difference makes it tough when i get busy and can't stay up as late.
That's the loan for all six of them, if i was to purchase them from him individually he wanted 15k to 20k for each one. So I'm roughly getting each one for 10K. The houses are in C class neighborhoods but they will cash flow even with one or two not renting out a month. Some of these are rent ready and a couple will take about 4k in rehab work. I expect to see about 3k passive income from these roughly ( can't be really exact till i see how the tenants are for the year on these. Taxes and insurance are about 400 dollars together.
Here is a nice diamond in the ruff, the pictures on the MLS are way better than this crappy auction site. Notice the zip compared to most turnkey that sell properties in Kansas City area. Was going for 45,000 on MLS and will be worth at least 120,000 when the market comes back. Plus home depot is right across the street, lol
Curious is to what area code your house is in, hope its not 64130.
CASH IS KING
Going to get that as a tattoo when i clear my first million in a year, lol
I know hard money lenders in Kansas City and would do the loan through your business. I am currently working on a 6 house deal from a hard money lender that doesn't know real estate, lol. He is offering me 6 points and five years on 60,000 with 20 down. Getting a good deal cause he has proven he doesn't have what it takes manage his cash flow portfolio. The rents on two of the houses will cover my loan for the duration. I'll ask him tomorrow and will post for you what i find out. If u haven't seen your house in person i hope u didn't get something from the dime a dozen turd turnkeys here. worries me that they are rehabbing in the winter, i don't do any heavy rehab during the winters here. just to costly and time consuming compared to the favorable construction weather in the spring.
Two weeks? good luck finding everything u need to lock down a good experience in that time frame. going to need at least a real estate agent
i let u guys keep the modest returns with low risk.
Wasn't talking about cash flow properties Jay. I invest in Florida for the type of houses you are talking about. The gem on the water that is 90K that was 500K back in the day. I can pick up about the same house here with the same potential as Atlanta. Wouldn't mind getting one in Mesa, AZ before all the for closers dry up there.
If it wasn't for my cash flow houses i wouldn't be able to buy my long term investment properties. The passive income they generate fuels all my buying power. Some use loans which is riskier to me than doing it this way with cash cow rentals.
NO! The buying opportunities need to last 5 years more