Just listed! Take a look at this great 4-plex located at 230 W Kump Ave in Bonner Springs, KS and property management is already in place. Visit our website to see the video, many photos and details we have for you.
Looking for financing? We have a local lender who would be glad to take a look at financing qualified buyers!
3 out of 4 units already rented!
Potential Rental Income: $22,800 Less Operating Expenses: $7,241 Net Operating Income: $15,559 Cap Rate: 11.53
Have investment property you would like to sell? Looking to buy investment property? Call Paul Surles at 913-488-7588 to talk about your goals and see if we can help.
Paul Surles Realty Resource, LLC www.PaulSurles.com Paul@PaulSurles.com
For the millions of people who've been layed off because of corporate downsizing, there is one bright spot. . .you can likely rollover the funds in your former employer's 401k into a self-directed IRA. This gives you lots more options in addition to the usual stocks and mutual funds. And, this can be done with no early-withdrawal or penalties. A custodian who has a wealth of experience and has a good track record with us in helping people with rollovers is Equity Trust Company.
We have been talking more and more lately with fellow Realtors in our local market and throughout the country about the importance of working with an experienced professional who has helped investors through the process of the rollover and all the way through purchasing real estate in their self-directed IRA.
The property will have approximately 25% in instant equity. Based on it's net operating income, it's set to be paid off in less than 10 years. Your IRA can purchase the property before or after all the repairs have been completed so that it's ready to rent. For this example, let's assume you purchase it when it's ready to rent.
Retail price: $80,000
Your self-directed IRA purchases the property at a discount: $56,000
Instant Equity: $24,000
Gross Rental Income: $8,400
Less 10% Vacancy: $840
Effective Rental Income: $7,560
Less Operating Expenses (taxes, maintenance, insurance, property management): $2,612
Net Operating Income (NOI): $4,948
Cash-on-Cash Return: 9%
How many years will it take in NOI to replinish the initial investment of $56,000? 11 ----- YEAH!!!!!
This is an example of what you can do with real estate in your IRA. Obviously, the numbers can and probably will vary based on market conditions, rent increases, vacancy fluctuations, etc.
For more information about how to invest with your self-directed IRA with Kansas City real estate investments, contact Paul Surles at 913-488-7588 or e-mail me at psurles@gmail.com. We also have information about Kansas City real estate investing, earning passive income with your self-directed IRA and much more on our website.
Just a quick post here to let you know we're not sure how much longer this lender will be offering this program for Kansas City single-family to 4-plex investment properties. If you've been wanting to add to your existing portfoltio and have been limited because of financing this might be the opportunity you've been waiting for. Following are the terms the broker provided to me, so take a look these and then look at our website to see which properties you'd like to take a closer look at acquiring.
•· Lender will loan up to 75% of the After Repaired Value! This can be a ZERO down payment loan. Yes, ZERO!
•· Funds available for long-term hold.
•· Great program for experienced investors with good credit (680+), cash reserves, and verifiable income.
•· Individual loan for each property. This is not a blanket loan.
•· Sample terms:
•o 7.5% interest
•o 5-year fixed term
•o 30-year amortization
•o Estimated $1,250 in closing costs, excluding origination fees
•o 1% origination fee to lender; 1% origination fee to mortgage broker
Are you looking to buy an investment property and need a buyer's agent to help you get it with this program? Let's talk about what you're trying to accomplish and see if together we can make it happen.
For more information about real estate investing in Kansas City with traditional lending or with your Equity Trust Company self-directed IRA, contact Paul Surles at 913-488-7588 or Paul@PaulSurles.com.
Looking for a Johnson County home in the Blue Valley School district or Olathe school district to live-in? Visit www.PaulSurles.com to search available homes.
I could hardly wait to write this post because it's been about a year since I have heard anything close to what my new mortgage broker contact has to offer. Have you been wanting to purchase more residential rental properties in Kansas City but couldn't because of financing? Take a look at the following terms the broker sent to me and look at our website to see which properties you'd like to take a closer look at adding to your portfolio.
•· Lender will loan up to 75% of the After Repaired Value! This can be a ZERO down payment loan. Yes, ZERO!
•· Funds available for long-term hold.
•· Great program for experienced investors with good credit (680+), cash reserves, and verifiable income.
•· Individual loan for each property. This is not a blanket loan.
•· Sample terms:
•o 7.5% interest
•o 5-year fixed term
•o 30-year amortization
•o Estimated $1,250 in closing costs, excluding origination fees
•o 1% origination fee to lender; 1% origination fee to mortgage broker
Are you looking to buy an investment property and need a buyer's agent to help you get it with this program? Let's talk about what you're trying to accomplish and see if together we can make it happen.
For more information about real estate investing in Kansas City with traditional lending or with your Equity Trust Company self-directed IRA, contact Paul Surles at 913-488-7588 or Paul@PaulSurles.com.
Looking for a Johnson County home in the Blue Valley School district or Olathe school district to live-in? Visit www.PaulSurles.com to search available homes.
Ever since I started providing practical tips about short sales to fellow Realtors here in Overland Park and the Kansas City area, I've had numerous agents and potential clients contact me for more advice. So, I thought I'd post a link on my website and scroll down to Foreclosure Avoidance for more info. This is an 8-week series, so check back often for timely tips.
Contact me at 913-488-7588 or through my website if there is anything I can help you with here in the Kansas City market . . .or nationwide. I have an extensive referral network so if you're in another part of the country, perhaps I could connect you with a local contact who can assist you further.
Here's what I contributed in this week's publication. . .
Q. What are the seller's options if a short sale is rejected by a lender?
Paul: One of the most common reasons lenders reject short sales is because the purchase offer was too low and didn't meet their criteria. Often times, the lender will go back to the listing agent and ask him/her to go back to the buyer and attempt to get a better offer. They generally need a minimum "net proceeds" amount on the HUD after all fees and commissions are paid.
Another option sellers and listing agents should consider is to ask the lender if they would agree to an unsecured promissory note between them and the seller for any difference in the proceeds between the buyer's offer and what they need to have. Often the terms are very attractive and the seller would have several years to repay the note.
There are other options in addition to a short sale that sellers should consider to avoid foreclosure. I always recommend sellers seek advice from a tax professional and/or attorney to help them decide whether a short sale, deed-in-lieu of foreclosure or loan modification would be a good option based on their individual circumstances.
Most of you have known me as a real estate investor here in the Kansas City metro as seen on our investor website www.MetroREOSales.com. Some have said that since I have a lot of experience buying and selling real estate for my company and other investors, I should expand to provide Realtor services to retail buyers and sellers for homes they buy/sell to live-in. Especially right now because of the incentives for first-time homebuyers. So, let me know if you're thinking about buying or selling anytime soon. . .or know of someone else who is.
Well, I've listened and have created a new top-notch website www.PaulSurles.com and an exceptional "commitment to green" internet marketing plan to help people sell homes for top dollar in Overland Park and surrounding areas.
What makes Paul Surles stand out among the thousands of Realtors here in Kansas City? Well, let me know what you think about this excerpt from our website. . .
"Feel good about choosing us to sell your real estate for top dollar because proceeds from our transactions go directly toward helping improve the quality of life in Kansas City inner-city neighborhoods. This is what sets us apart from the competition.
The largest initiative underway where proceeds are being directed is toward providing financing through Home Run Properties, Inc. to local providers who are upgrading inner-city homes as a result of President Obama's recent American Reinvestment & Recovery Act (ARRA) stimulus funding in Kansas City. Our commitment to other neighborhood stabilization initiatives include purchasing and remodling homes for familes to rent or purchase."
Even if you're not in the area, we would help you with getting a Realtor referral where you live or are going to live. Proceeds from referral transactions count to! See more about homes in Overland Park and the Kansas City metro on our website. Contact us today at www.PaulSurles.com.
Isn't this a great time to acquire a commercial real estate investment? Having a tough time getting the financing? Don't want to part with all the up-front cash required by the lenders? We have finally found a program that's a good match for sellers who have some equity in their properties and buyers who don't want to part with so much of their cash today. Following are a few benefits about the program. . .
Minimal Up-Front Cash Requirement Minimal (if any) Credit Qualifying No Need for a Loan Application or Approval Needed Legal Protection, Privacy and Safety Ease of Transfer, Especially When there is to be No New Loan Income Tax Deduction Asset Protection Shields Property from Litigation, Creditor Judgment, Tax Lien and/or Probate
Does this sound like a good solution for you? If you've ever heard about lease-option, lease-purchase, owner financing, seller financing, contract-for-deed, etc., our program is hands-down better for asset protection and ease of transfer. Call Paul Surles at 913-488-7588 to talk about this more.
If you're a first-time homebuyer in Missouri, you'll want to see if you're eligible to move into one of our homes with this benefit through the Missouri Housing Development Commission.
How the MHDC Tax Credit Advance Loan Program Works:
MHDC makes a second mortgage to the homebuyer at the time of closing worth up to 6% of the home purchase price or a maximum of $6,750, which is used to cover downpayment and closing costs. The tax credit advance loan is paired with MHDC financing for the first mortgage in the form of a safe, 30-year, fixed-rate mortgage. The homebuyer then files for the federal taxcredit and uses the credit refund to pay off the MHDC tax credit advance loan. If the tax credit advance loan is paid off by the designated deadline, the homeowner pays no interest other than a modest servicing fee. If the tax credit advance loan is not paid by the deadline, principal and interest payments to repay the loan over 10 years begin automatically.
All MHDC first-time homebuyer loans are made through a statewide network of certified lenders, and serviced by U.S. Bank. The MHDC loan programs are available for households with incomes up to $85,000. Interested first-time homebuyers can find a list of participating lenders and other information about the program on the MHDC website.
For homes immediately available for this program to move into, take a look at 5143 Euclid Ave, Kansas City MO, and 3318 College Avenue, Kansas City MO on the Metro REO Sales website. Both are newly remodled, spacious 4-bedroom, 2-bathroom homes. Do these not meet your criteria? Contact Paul Surles at 913-488-7588 to talk about your home preferences.
Come to this IRA Workshop and Learn How to Grow Your Retirement Account
Smart Investors Looking for Funding for Real Estate Deals are Finding Out that there is a Huge Untapped Source of Money That Exists in IRAs and other Retirement type accounts, which can be used to buy & sell real estate.
Right now is an awesome time to build up tax-free and tax-deferred nest egss in your new or existing retirment accounts. Find out how you can start from as little as $1000 or grow an existing account.
And with the current mortgage & foreclosure mess, make using other people's IRA money to fund deals even more attractive than ever. It's a win-win for both the borrower and the lender as each get a better interest rate. So why should any of us deal with the bank?
Kim Tucker, the director of MAREI uses her own Self Directed IRA as well the IRA's of others to invest in real estate. She and her partners at Tucker One Properties, Inc. offer assistance in getting your IRA set-up so you can buy real estate or lend to your funds. Join her at this Wednesday's workshop to find out how you can invest your funds and get a better return that the stock market and get started making positive changes with your retirment funds.
Whether you have money in a retirement account now or not, Does Not Matter...This strategy can be, and is being used very successfully by investors at all levels. (Including the super-rich folks who are not even RE investors, they just know it's a good place to put money for great returns)
Visit the MAREI website to find out more about this Wednesday Afternoon Workshop: 05/06/2009 -Wednesday Workshops - Self-Directed IRA's
Can't make it or have other questions, please call 816-523-4400 and ask for Kim.
For more information about investing in Kansas City real estate, using Equity Trust Company as an IRA custodian, etc. contact Paul Surles at 816-523-4400 or e-mail at paul@paulsurles.com.
Isn't it a struggle to come-up with any investment idea that can earn anywhere close to 17% a year in today's market. Stop by our table tonight between 6pm and 7:30pm prior to the Mid-America Real Estate Investor Association meeting. Joe and I will be there to talk with you about your IRA goals and how real estate might be a good diversified part of your portfolio. We'll be right outside the ballroom at the Overland Park Marriott at I435 & Metcalf (10800 Metcalf).
When: Tuesday April 14th, 6pm to 9pm
What: Networking and Education
Vendor Tables Reserved:
Paul Surles & Joe Reece: Tucker One Properties, Inc. Helping you invest your IRA funds in rental property, from rehabs, turn key rentals, and apartment buildings.
Vickie Clevenger: Guest Speaker and Real Estate Investor using her IRA
Ed Griffin: Guest Speaker, retired retirement account specialist, Note Buyer
Matt Allen: Guest Speaker, North American Savings Bank - making loans to IRA's for real estate
Mike Wrenn: Renovators Insurance, specializing in insurance for investors
Marck de Lautour: SBD Housing promoting his FR*EE Foreclosure Seminar next week
Ron Levin & Rusty Saighman: Real Estate Prep School, specializing in Realtor Training in Kansas and Missouri.
Education: Our guest speakers are Ed Griffin, Vickie Clevenger, and Matt Allen discussing how to do real estate deals with your IRA. If you are looking for new ideas for financing your properties or converting your IRA to investments that you understand and can control with your real estate knowledge. Presentation at 7:30
Cost: Members can attend with no costs, guest fee in advance through our calendar online is $15 and at the door is $25. Membership is $99 at the door for one or $149 for two. Check or Charge only, no cash please.
Networking: From 6pm to 7:30 our vendor hall will be open for networking . . .
Be sure to bring paper and a pen to take notes. Bring your questions, we have a set of starter questions, but the panel will answer your questions as you have them. Please keep in mind that they are not CPAs, Attorneys, Accountants, or IRS people. They will be answering from experience. Arrive early for dinner at Panera Bread or Applebees before the meeting and avoid rush hour traffic.
We help people at all experience levels invest in quality residential and commercial real estate.
We also help people buy and sell homes they live-in in Overland Park, KS and surrounding areas.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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