Newbie starting out in Kansas

[Matt McConnell]

Hello all,

My name is Matt and I am not actually in Kansas. I know that sounds strange given the thread title. I say this because my family is in Kansas and it is where I would like to set up shop. I am actually active duty military and I have been posted overseas for several years now. I have bounced around from stateside posts, combat locations, East Asia, and am now living in Europe for the next few years.

Long story short, I have had an interest in real estate for several years. I have read books, watched videos, studied case studies, and dutifully lurked around the BP forums trying to learn anything I could. I have saved up some capital and I think its time to start seriously trying to make this work.

I chose Kansas because my father is an experienced general contractor and building inspector which I hope will ease some of the risk of trying to run this project from overseas. I am trying to find an area in central Kansas to buy a multifamily property (2-4 plex) in a decent neighborhood and run it though a property manager. I realize that this will be really tricky as all I have is book-learning and theory and I cannot put eyes on the property myself.

Any advice to point me in the right direction would be greatly appreciated. Thank you all for your time and your awesome forums! You guys are already far and away the best group of people I have ever found when it comes to this business.

Sincerely,

Matt from Deutschland

[Paul Timmins]

@Matt McConnell

Welcome. Thanks for your service. A buddy just closed on 242 units while deployed.

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

Good luck

Paul