Forum Replies Created
Hi Jay,
The lender was a third party and they currently lend in 4 U.S, cities. All is well I am still receiving over a 14% ROI after fees and carrying cost.
MJ
Hi Trent,
I have a couple properties that I have financed through private lenders. The rate was 8.25% on a 3 year arm with a 30 year amortization. My goal is to pay them off within the 3 years using the rents received, if that doesn't work they will allow me up to 5 years if the loan remains in good standing. I had to put 50% down payment but it has allowed me to purchase more properties. The properties are located in Kansas City. I believe there are only certain areas that have this kind of financing available in the US.
MJ
Not sure what the spruikers comment is but anyone looking for good information on the Kansas City market, I would be happy to help. Also have found financing that is currently available in the area. There are bad areas in Kansas City just like any city, however, there are alot of good areas that provide great tenancy. I own 12 properties in this area and am always looking for more. I get great returns with cash on cash of over 18%. Not too many areas can boast to that. Thanks for reading.
MJ
Hi Bob,
I would like to find out which banking facility you would suggest. How would you like for me to contact you?
MJ
Mosqui,
After taxes, insurance, and management fees it nets around 19%. All the renovation was complete if that is what you were asking. And yes I am based in Kansas City.
MJ
Hi Jamie,
It was a private lender. I just received more info that they have another program that is a 3 year arm with a 30 year amortization at 9.875% and they will extend another 12 months if the loan is in good standing. This will allow more cashflow upfront if I need it.
MJ
Hi Ajay,
I bought the property for $42,000 and I put $21,000 down. I financed the remaining $21,000 at 9.5% on a 5 year term. The payments are roughly $430. Rent on the property I purchased was $825. After management fees, taxes and insurance, I am left with about $225 positive cashflow. But my long term is to have everything paid off within the 5 year term by using the rent money. This should help me purchase more property instead of only a few with cash. The loan is set up on simple interest, so the more paid towards principal each year the more money goes in my pocket year after year. Upfront cash flow should go up at least $100 every year. <moderator: delete advertising>
MJ
I have used buykcproperty.com
Hi All,
I have purchased quite a few properties in Kansas City. There has been a tremendous upside in this market. Alot of expansion going on and high rental returns. Most of the properties have over a 17% ROI. I only buy properties that are ready to go with a tenant on board. I found that working with a local firm on the ground there worked better for me. If you have any thoughts on other areas that can give me the same kind of return, please PM me.
T.H. and Rick,
The vacancy rate in Kansas City is quite low. According to which analysis you speak with 12-14%. However, the market is a little different there are over 6000 families that are qualified for section 8 that can not find housing. This is due largely in part to the banks not releasing their portfolios due to the high demand for investment property in the area. So there are homes that are awaiting rehab. We have no shortage of renters it is quite the opposite we have a shortage of available properties. Every unit we receive is rented within 30 days to a section 8 tenant. And the demand is even higher in the urban core of Kansas City. The other highlight is that in the final quarter of 2010, we saw a 2% drop in the rental vacancy rate. As these properties come available that number should fall again by second quarter of this year. Hope this helps.
Adam,
If your travels bring you through Kansas City, Missouri, let me know I can show you what properties I have purchased. I also have some great contacts on due diligence over here.
Mjcantrell
Rick H,
Congratulations on the purchase. And also thank you for the kind words on the service I provide here in Kansas City. Very much appreciated. If you should need any further assistance just let me know.Regards
MikeI have invested in Kansas City, Missouri and consistently get a 20% ROI. I have also attached a link to show why Kansas City is the place I put my investments.
Hi All,
I am an Real Estate investment broker on the ground in Kansas City, MO. I have been buying property here for the last 12 years. I can tell you that it is absolutely incredible the prices and cashflow we are seeing right now. The best properties I have been obtaining have been within a 10 mile radius of downtown Kansas City. The rents are high compared to the amount you have to pay to purchase the property. Most of the time you can obtain a 15-25% ROI cash on cash. Also purchase the properties at 50% below present market value. I do not know how long this will last because I have never seen it before and most of the old timers are saying they haven't seen prices like these since the 40's. I will capitalize on these for as long as it lasts and reap the benefits when the market bounces back. If you should have any questions about this market let me know.
Hi Sara,
The area you are asking about is within a 10 mile radius of downtown Kansas City. Properties are very reasonable($35K) and get guaranteed rental income($650-950). We are purchasing around 10 a month. I use an investment broker to find the good deals and then do the due diligence on the property. Hope this helps.
Hi Spyglass,
The properties I am buying in Kansas City are averaging around a $35K purchase price and $650-850 rent. That is fully renovated and tenant in place. I do check Zillow and have found even in this market I am buying them around 60% of the market value. Kansas City has many properties available and I turn away alot of good deals due to lack of funds.
Hi All,
I would definitely try and do your homework or at least as much as you can. I am a property investor in Kansas City, Missouri and have been over the past 12 years. The nice thing about using a broker over there is that they have established contacts hopefully with reputable investors in the states. I have done business with both of those firms and have had pleasant experiences with both. The name of the game right now in the states is cashflow and within a few years you will see substantial capital gains. Hope this helps.
Hey All,
I live in Kansas City and have been investing in property here over the last 8 years. We are experiencing some unbelievable opportunities and I am hoping it will last for some time to come. Properties are going cheap and the cash flow is inevitable. If you have any questions I would be happy to help.
Hello all,
I have been investing in the USA for many years and where I have found the soundest investment so far is in Kansas City. The property is cheap and will yield at least a gross 20% ROI. It is also in line to have a super highway running right through it from Mexico to Canada which will bring even more infrastructure and jobs. Therefore, means more renters and less supply and demand which means properties will begin to see big capital gains.
Regards
Hi All,
Keep a close eye on Kansas City, Missouri. It is expected to have a "Super Highway" that will connect Mexico imports all through the Midwest and to Canada. Kansas Cities railways make it a good spot for a "small port" It is already in the works and will bring even more infrastructure to the area. Kansas City has already became the largest city in Missouri in just a couple years. According to the U.S. Census bureau Kansas City has grown over 9% in the last nine years.
I have been buying investment property in this area over the past 10 years and I am yielding over 20% currently in this market. I have alot more facts about the area if anyone would like to learn more.
