All Forum Posts by: Adam Thies

 Johnson county will definitely be a tough one, but doable. I will say on a deal like that you need to be prepared to move fast when it comes around. If I get a JoCo duplex today, are you ready to pick it up?

 Its is up to you.

You could utilize a renovation or construction loan with your lender to make that happen so you dont have to pay alot of the expenses out of pocket.

ADUs are nice because some municipalities do not look favorably on duplexes and multi units tend to command higher interest rates outside FHA.

@Adam Thies  thanks -  1)  get pre approved with a lender  as a first  step to make sure you can  get the approval needed  and also to become familair with all the  process and the numbers   2) since you arent married - I would also  consider drafting  up something that will outline  what each of  you contributes and  also what would  happen to the property  should you split   ( likely  to not happen  but  I have seen many situations that  non married partners  split without any formal agreement and this creates  lots of  added  stress /  anxiety and distrust  ...good luck

@Adam Thies I meant are you only looking in KCK? Are you open to other areas of the metro? I have a duplex showing today in Independence, and I get duplexes around KC from time to time

Hi Adam,

That is awesome that you and your wife on both on board with house hacking! Tried to get my wife to do it and she wouldnt share the space.

I would also suggest looking into a single family property and adding an ADU(accessory dwelling unit). You can usually get this approved via Fannie Mae and it might open up some other options for you on getting a cashflowing property.

Good luck!

There a lot of different websites that will allow you to pull lists. Batch leads allows you to pull 1,000 during their 7 day free trial to test it out. That will get you addresses and other info about the property but you’ll have to pay if you want them to skip trace to get the numbers. If you don’t want to pay just export the list into excel and start googling addresses and the owners name and you’ll find numbers that way. This can be time consuming and you will get a lot of bad numbers but that’s just part of it. I recommend this approach for people starting off, but as you scale you’ll need to become more efficient, start outsourcing work and implementing systems.

Hi Adam. It sounds like you are taking a lot of the right steps. I would recommend attending local meetups in the area to start building out your network. In my experience, finding a mentor tends stem from shaking enough hands, and then one day you’ll realize you have a mentor. It just sort of happens when you are meeting enough people in the field.

Yes multi family in KC is competitive but there are still plenty of deals being done. Being able to find off market deals is something that will never go out of style. I would start picking up the phone and make some calls. Start super low, like 5 calls a day until it becomes a habit and then scale up. You will get comfortable fast!   Another option is the find an agent who will make those calls for you. Whatever you decide, best of luck.