19 Rented Townhomes. 2013 Built. Metro Kansas City KS

About these townhomes:

  • Located apprx. 20 minutes west to downtown Kansas City and approx. 20 south to KC airport
  • All units of a similar level of finish and floor plan
  • Appliances stay with the property – Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Rng/Oven-Electric, Rng/Oven- Free Std, Washer
  • Photos of the model unit
  • No HOA
  • They all have separate tax ID’s – each townhome is separate legal addresses
  • The landlord does the mowing as part of the lease, so the area is kept up
  • Snow removal is on the tenant
  • Asking price for the enitre package (19 doors) is $3,200,000 [$168,500 per door/unit]
  • There is one townhome on the street that was sold for $190,000 in May 2021, a $118/sq ft.
    • The average $/sq ft in the area for sold is $175
    • The average $/sq ft in the area listed for sale is $207 (using a wider geo search area to find listings)


Buying options

  1. Option 1 – 1 buyer buys all
  2. Option 2 – 6 buyers, each buying per building (see below)
  3. Option 3 – pull resources as a group – see explanation below


Pull resources as a group

For this to work we’d need to pull CASH (financing will come at a later phase) resources from multiple Simply Do It, investors.

Here are the steps needed to execute this:

  1. Each cash buyer picks a unit/s (financing will come at a later phase)
  2. After due diligence – Each buyer put into a temporary LLC the amount needed to buy 1 or more units
  3. The temporary LLC acquires the properties and at closing instead of closing it under the LLC’s name we do a second closing (aka simoustanly closing) and each investor closes it under her/his name.
    In simple terms, the LLC technically owns each property for 1 minute.
    We’d probably form 5 such LLCs – one per building to divide and conquer, and simply the transactions. 
  4. After you acquire/own the property you can get your own financing.


FAQs about the group approach

  • What’s the benefit of this idea?
    1.Cash offer – we hope it will help us in getting a better price
    2. It gives you an opportunity to tap into an investment property you may not be able to tap into individually 
  • Why cash? If mortgages are involved it puts the entire transaction at closing on time risk, + it would not be possible to coordinate all appraisal and lenders to the same date and time.
  • Financing
    • Can you get financing after closing? Yes, depending on lenders approval
    • Are the financing terms for such refi same as purchase-mortgage? Typically not identical but similar
    • What if I don’t have $170,000+ in cash? That may mean this is not a deal you will be able to do – let’s find you another one.
    • If the purchase price is $165,00 and the market/appraised value is $185,000 – can I refi base on $185,000? Typically lenders would refi based on CONTRACT price, $165,000 in this example, and not based on market/appraised value unless refi is taking place 12 months after your purchase.
    • What if after I purchase it appraises at $10,000 below what I paid for it? While unlikely, in such an instance a lender will only provide a mortgage based on the appraised price. 
  • Ideally, the whole package sells to 1 investor would be his preference.
  • The minimum seller would do is sell them by the building as outlined below.
  • He won’t sell them 1 door at a time, except for the single unit in Building 6 below.
  • He’s really not interested in selling them 1 door/unit at a time.


Available units:

  • Building 1 – 4 units available
  • Building 2 – 4 units available
  • Building 3 – 3 out of 4 units available
    These are a little different floor plans.
  • Building 4 – 4 units available
  • Building 5 – 3 out of 4 units available
  • Building 6 – 1 out of 4 units available