Multiple Rented SFHs in Kansas City – ‘C’ Areas & Pricing

Read First

• This is a C rated properties – we gave it C rating due to the lower schools rating and ages of most properties. 
• Seller’s agent already indicated that they have one “weak” offer and 2 or 3 others have called and seems serious buyers (as of 2/8/2022)
  • -> It’s important to proceed as soon as possible 

• Why consider buying any of these houses:
  • Pricing is much lower than we see for similar properties throughout the metro.
  • Lower pricing provides a lower threshold for some investors.
  • We have net discovered red flags that prevent from considering buying 
  • Most (possibly all) houses have been update in recent years
  • Most (possibly all) houses are occupied/rented, which means generating rent from day one
  • Coming in as a group provide a better buying chances in a competing market

• This package includes 11 rented (occupied) houses.
• Seller prefers to sell them as a group (if possible).
• The information listed below is based on public info + info provided by the seller’s agent – As always w/ such package – info provider or info obtained online is not 100% accurate
• Simply Do It’s team has not been to the site/s yet.
• Pricing is per building/property. 
• OUR GOAL IS TO GROUP MULTIPLE INVESTORS AND BUY ALL 11 HOUSES AND achieve A BETTER PRICING 
  • Buying priority will be given to inventors or a group that will buy multiple/all properties.
  • Buying can be done CASH or with financing.
• IF YOU HAVE A 1031 EXCHANGE OR CONSIDERING ONE – THIS can be AN EXCELLENT OPPORTUNITY!

Pricing

• Price per houses is based what Simply Do It thinks we should offer. 
• Seller have put an asking price of ~$1.9MM for all the 11 houses and DID NOT break pricing per house. 
• Pricing has not been agreed with the seller and will be presented once we have buyers on-board.

The following questions were sent to the seller – we are still waiting on answers:

1. Do you have seller disclosures?
2. Do you have a list of known repairs, known issues, major issues?
3. Do you have a list of improvements made and when?
4. Any known issues w/ any of the tenants?
5. Is it owner-managed or professionally managed?
6. Are there signed leases for each occupied unit?
7. Are there security deposits for each occupied unit?

Buying Preference

• Priority will be given to a buyer/s who will buy multiple duplexes.

Group Purchase

• Option 1 –  If you have a group of investors interested in buying this entire package as one entity, we can help you accomplish that, and can assist with securing funding too.
  OR
• Option 2 – If you prefer to be a part of a group that will buy all properties (cash) and interested in putting $100,000 or more, let us know. 

Next Steps

1. Active Simply Do It’s investors – text/email for more info such as an address, full analysis, and questions.
2. Non-active investors – email/call/text with questions about this opportunity and to find out what you need to do to join the Simply Do It program and benefit from this and many other opportunities. 

Specs & Rents

* 850 sq ft upstairs and 200 sq ft in the basement (upstairs 2/2 850 sq ft; Basement: 3rd bedroom + 1 full bath)

** This house has $4/mo HOA

Pricing & School Info

* Assumptions:

1. 4% vacancy, 7.15% monthly management, 67.5% leasing fee, 24 months leases, insurance and property taxes
2. $5000 for make ready
3. 25% downpayment
4. 3.75% int. rate
5. 30 years mortgage

FAQ

• How much is the HOA?
  • No HOA
• Can I buy with a mortgage?
  • Yes, and we have preferred lenders for you to use if you wish.
• Do you have a local property manager we can use?
  • Yes, we sure do.
• Can I buy cash?
  • Yes, of course.
• Can I buy more than 1 property?
  • Yes.
• Is there a way for me to buy all and get financing for all of them under 1 mortgage?
  • Generally speaking, yes, and we have a lender who may be able to do it.

Disclaimer

Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.