I got a surprise e-mail this morning from my property manager. I currently have a single-family (2 bed, 1 bath newly renovated) house in Kansas City, MO (Waldo neighborhood) that I am currently renting. My property manager, who is also a realtor, e-mailed me this morning interested in buying the house from me.
I want to grow my rental business and I have been looking for ways to extract the equity I have built in this house. I have been having a problem with banks extending financial lending to me in order to grow my rental business in the form of a cash-out refinance or in a HELOC. The reason being is because I am using the property as a rental.
I originally planned on selling the house when the current tenant's lease is up in April, so this would expedite that process. However, what I need help for in the Cyclone community are the following: Real Estate Attorney, Appraiser (I want to have the house appraised myself), a bank experienced in closing and a 1031 exchange. I want to try and sell the property without using a real esate agent to save on the fees since I already have a buyer. Please let me know of some people who you have used in Kansas City.
I want to grow my rental business and I have been looking for ways to extract the equity I have built in this house. I have been having a problem with banks extending financial lending to me in order to grow my rental business in the form of a cash-out refinance or in a HELOC. The reason being is because I am using the property as a rental.
I originally planned on selling the house when the current tenant's lease is up in April, so this would expedite that process. However, what I need help for in the Cyclone community are the following: Real Estate Attorney, Appraiser (I want to have the house appraised myself), a bank experienced in closing and a 1031 exchange. I want to try and sell the property without using a real esate agent to save on the fees since I already have a buyer. Please let me know of some people who you have used in Kansas City.