Forum Replies Created
- Our adventure wrote:mic84t wrote:sure did, some may think it was risky but i am happy with the team I have and felt confident. So far so good and I will be there to check it all out soon.
Hi mic84t,
Would be interested to hear how this progresses. If its no secret, did you organise this through a group? Who? We are looking at various companies at the moment for the same reason.Cheers GT
No. I found my self a property inspector and a good local realestate agent. I explained to them what i was looking for and they worked togeather to find the right property's. first step the realestate agent would email me with a list of property's, I would review every property , do the numbers and usually pick 5-10 to look at. they would both select a day to look at these propertys then my inspector would do a report on each of the houses , including photo's and any pos or neg issues with any certain property. I would then le-ace with both members , we would pick out one or two that were best and put forward offers. I have purchasee one and will be purchasing a second soon.
kylermrice wrote: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 Citythe 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 , but the area i am in is clean!
kingsr wrote:Hey Mic84t,Tried sending u a pm but it looks like you're not accepting them. Anyway just wanted to have a chat because im looking to invest in KC soon and just wanted to know your experience. Do you have FB or Skype?
feel free to email me at [email protected]
kylermrice wrote:Curious is to what area code your house is in, hope its not 64130.NO, it is 64050. Independence. just a few blocks from harry trumans house.
kylermrice wrote: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.no it was not a turn key house. I created my own team. you may have a valid point about renovating in more desirable months but it has still been a favourable rehab all in all. I bought a two story house and had it renovated in to , two seperate apartments. Costs have been i little higher then i first estimated but i had room for movement and the return on my money will be 20-25%. So I am pretty happy with this. I have learnt a few things from this first house and perhaps would do a few things different on the next but all in all , I'm winning!
Texas Cash Cow Investments Australia wrote:We have finance available for foreign national buyers. Rate of 5.75% with a 30% down payment and 1% origination fee. Funds are provided by a commercial bank in Texas. Repayments are amortized over a 15 or 20 year term depending on the loan size and/or property. A maximum of 5 properties or $500,000-00 in lending per entity. And we have have many clients successfully funded so we know it's the real deal.
It won't assist you getting any equity from your Kansas City property as lending is restricted to the North Texas area's and are quite specific due to Fed laws. To my knowledge this is about the best you could get or expect for a foreign national. Other then that some borrow from hard money lenders but pay upwards of 11%++ and they are typically only short term loans of 3-5 years so your stuck come 3-5 years in trying to refinance it.
Nothing better then leverage to increase your cash on cash return !!sounnds great , but I have decided to invest in Kansis city for the time being. do you know of any resonable finance being offered here?
sure did, some may think it was risky but i am happy with the team I have and felt confident. So far so good and I will be there to check it all out soon.
