Kansas City, MO · Member since 2020 · 5 posts · 4 votes
I live in the Kansas City area and want to learn more about buying real estate as a buy and hold investment in the area. I don’t have the time or desire to rehab so looking for turnkey and using a property management company. Who should I be looking to connect with to learn more and see what opportunities are available?
I live in the Kansas City area and want to learn more about buying real estate as a buy and hold investment in the area. I don’t have the time or desire to rehab so looking for turnkey and using a property management company. Who should I be looking to connect with to learn more and see what opportunities are available?
Hey Eric - I would love to help out. I would suggest something that is near turn key near stable. Are you looking for multifamily, single family? What area and price range? Happy to help!
Rental Property Investor · Corpus Christi, TX · Member since 2019 · 306 posts · 176 votes
6y
@Eric Krikke
In no particular order...
1. Find a knowledgeable agent that understands investing.
2. Join local real estate investing clubs. Im sure Facebook would be a good place to search for them.
3. Network every chance you get with more seasoned investors, contractors etc.
I'm im your shoes and buy turnkey properties that don't need much work. It's just an easier strategy for someone like me who works a lot of hrs in my W2 job.
I would suggest you manage them yourself until you have too many to manage alone. Buying turnkey properties, there isn't a lot of extra profit to give away to a management company. You can easily do it and your agent can help with the contracts.
Kansas City, MO · Member since 2020 · 5 posts · 4 votes
6y
@Alex Olson Multifamily or single family is of interest to me. I need to learn what area I should be in and need to talk to someone about financing options to establish my budget.
I love Kansas City, MO, and am an active investor there because of the fundamentals and cash flow opportunities there. In fact, my company has been actively selling properties there since 2006 because of the regular flow of opportunities we find.
So your choice of a market is good. Make sure you stick to solid "B" or better areas. I've bought in all of them across the board, and can tell you the least brain damage is not is the C-class areas or below.
Your Team (with a capital 'T') is also critically important. Be sure to assemble that well, or ask other seasoned and successful investors for some help. I've been burned by a number of people in the KC market, and had great success with others. But that's true in lost any market.
@Alex Olson Multifamily or single family is of interest to me. I need to learn what area I should be in and need to talk to someone about financing options to establish my budget.
Easiest way to look at financing is if you have decent credit and you will not be owner occupying is you need 20-25% down. And you can use savings/cash/trust, self directed Roth IRA, or a HELOC on primary to provide as the downpayment/equity. Hope that helps and gets you a bit closer.