All Forum Posts by: Aaron Brown

Sounds like a great deal, barring it isn't in a "war zone"! Good luck!

Kushal  did you find what you needed?  I also have a local bank that does some areas and suburbs of Kansas City, in house portfolio loans.  

I'm curious, what areas are you looking to buy in that price point? I focus on Independence rentals, myself.

Sure, I'll send a pm now

Yup, I quit my job two years ago this month and now do real estate investing full time! Still in aquisition mode, but the market has seriously shot way up... No good deals left like there used to be. Emotional owner occupants and out of state buyers have driven the market way up. The last MLS deal with offering on I offered 10k less than asking (to stick to my numbers) it had 8 offers first day and sold for 12k OVER ASKING PRICE!!! Absolutely crazy price, but emotional buyers are paying it!

On another note, the City Independence has enacted a "Rent Ready Ordinance" requiring inspections for all Landlord properties. An added expense and hassle for investors to be aware of.  KCMO is voting on a similar inspection policy coming up in early July that landlords are fighting.

From our local MAREI group:

To view the KCMO ordinance Click Here

To view our set of Talking Points and FAQ’s Click Here

Hello Ty,

A true wholesale deal you won't need to borrow any transactional funding... Which may be a good option for you starting out of you have little or no money to put into a flip.  You use the money from your buyer to pay off the seller, and you keep the difference. 

For example, you get a contract for 50k with the seller. You then assign that contract to your buyer for 60k. The buyer wires in the 60k to the title company, the seller gets their 50k, you take the 10k difference.  Make sense?

Let me know if you find any good deals in Independence you'd like to wholesale! I am a fellow investor in Independence, and mainly do but and hold-rentals. I'd be interested in taking a look.

Hey Chase, congrats on your first purchase!

For anyone in the future looking for a Roofer in Kansas City, I'd Be happy to share mine.  He did all 7 of my rentals in Independence, MO and my personal residence and not only did a great job, he was the lowest of three bids!!

I've I've got an insurance guy here in Kansas City I use that is great. Send me a message if you want the contact info.

A lot of good answers so far.  I would add that if it is the tenants being hard on the property or causing damage that you can definitely tell is their fault, (like holes in the wall, burns on the carpet, etc. ) I have started billing those things back to the tenants and fixing them now. Don't wait to take it out of their deposit especially if it is significant repairs are adding up where the deposit may not cover at the end of their lease.

Cool, cool, thanks Andrew. I'm at 6% interest, 5 year fixed, 20-year AM on my last two purchases.  Maybe it would be worth my while to shop around and find 5%, but at the same time I really like my local bank.  I will have to take a look at the numbers on my next deal. Thanks again Andrew.