Rookie in Kansas City

[Clifford R Fowles]

Hi BP Community!

This is my wife Lisa and I'm Clifford. I've been reading, watching and listening for about 6 months now around my full-time job and fuller-time life with 2 awesome kids and amazing wife. Just over 90 days ago I watched Beardy Brandon's 90 day challenge and I snuck a Pro membership that evening. Lisa was totally behind me so after breathing a sigh of relief I set out to make that first deal happen. We just learned a valuable lesson about being slow and lost our first true deal. We're trying to network and learn and set ourselves up for success so the thought finally struck me, "Say hello!". Introvert problems.

We're in the Kansas City area and want to invest in our backyard. It's a pretty great backyard for investors so hopefully we can find some iron that can help sharpen a rock that would like to try sharpening back. I believe the numbers will steer our goal for a deal but ideally we're looking to build a SFR & MF porfolio of long-term rentals. Currently reading BRRRR and loving the in-sites from an experienced game-changer.

Best,

Clifford Fowles

[Matt K.]

KC going to be tough to BRRRR unless you got some volume... Good deals go quick and good contractors are BUSY with more work then they know what to do with.

You will be going against investors from all over with deep pockets some which have no problem "over spending" .... And plenty of terrible contractors who'll promise you the world and at best give you sub par results.

I don't say this to discourage you, but you'll need to be realistic and become an expert in the areas you want to invest. You'll need to see the below market rents when others overlook it, find the spots near those have to live areas that everyone skips because it blends in with the bad areas.

And you'll need a lot of cash to buy the properties and rehab them then pull money out with delayed financing...