New to BiggerPockets in Kansas

[Derek Ackerman]

I guess I'll go ahead and introduce myself.  

I'm Derek Ackerman, 39, living near Wichita KS.  I'm looking to invest in buy and hold rental property.  

I had a rental property for about 5 years when I lived in Topeka and kept it for awhile once I moved to Wichita.  I sold it about 2 years ago.  I felt like it was a ticking time bomb waiting to cost me a whole lot.  The property management company that I had managing the property was just OK.  When I lived in Topeka, I managed the property myself and gained some valuable experience.  I also managed a friends property who moved to Wisconsin for a year until he sold it.

My overall goal is to become financially independent.  I'm a big Dave Ramsey fan, and paid off my house (and no other debt).  Contrary to Dave's advice, I'm not completely opposed to borrowing to get into the rental market, but I do intend to keep a large safety net.  

I have some money that will be available to invest in rental property. However, at least around Wichita, the real estate market for a "family" type house (3Bed/2 bath/2 car garage) is very hot, with retail market houses selling in less than a day. I have a full time job, so a rehab isn't in the cards right now. I don't think this is a good time to buy a SFH.

I am in discussions about partnering with a couple of friends on a project, but we're in the very beginning stages of evaluating and deciding on the direction we want to go.

[Jimmy Dang]

Originally posted by @Derek Ackerman:

I guess I'll go ahead and introduce myself.  

I'm Derek Ackerman, 39, living near Wichita KS.  I'm looking to invest in buy and hold rental property.  

I had a rental property for about 5 years when I lived in Topeka and kept it for awhile once I moved to Wichita.  I sold it about 2 years ago.  I felt like it was a ticking time bomb waiting to cost me a whole lot.  The property management company that I had managing the property was just OK.  When I lived in Topeka, I managed the property myself and gained some valuable experience.  I also managed a friends property who moved to Wisconsin for a year until he sold it.

My overall goal is to become financially independent.  I'm a big Dave Ramsey fan, and paid off my house (and no other debt).  Contrary to Dave's advice, I'm not completely opposed to borrowing to get into the rental market, but I do intend to keep a large safety net.  

I have some money that will be available to invest in rental property. However, at least around Wichita, the real estate market for a "family" type house (3Bed/2 bath/2 car garage) is very hot, with retail market houses selling in less than a day. I have a full time job, so a rehab isn't in the cards right now. I don't think this is a good time to buy a SFH.

I am in discussions about partnering with a couple of friends on a project, but we're in the very beginning stages of evaluating and deciding on the direction we want to go.

 Welcome to BP! It is always great to see another investor in the Wichita area. I was a big on Dave Ramsey as well however i started disagreeing with him over the year the more i researched about borrowing money to increase wealth. I get what he is saying and debt is bad (for the average person) but as an investor, it is a tremendous tool to wealth building.