All Forum Posts by: Ariel Nixon

@Grant Bumgardner For being 19yrs old I'm very impressed with your mindset here, not to mention your school of choice is spectacular (KSU Alumn here!)

The MHK market is TOUGH as is, and that's without having trouble with lack of credit, but I do wish you the best in finding what you are looking for. If you find an interesting house feel free to shoot me message and we can discuss options if there's any way I can help.

From my experience in the Wichita market I don't know if you will have luck with this strategy. Since housing is fairly affordable in this area, individuals can find their own place without a shared space at a similiar price. To me this seems like a risky move for the area, but maybe I'm more risk-adverse than some! Good luck. 

Has anyone completed a zoning change in Derby/Wichita, KS? We have a house under contract we would love to turn into a duplex. It is currently zoned as SFR. Knowing the Derby area I'm concerned that we will not be able to get this rezoned. If you go up .90 of a mile there are duplexes however. The Derby process for zoning applications is lengthy, so I'd love to hear if anyone has experience with this.

Hello BP Community!

We are looking to network with wholesalers in the Wichita area. My partner flips houses full-time and we started purchasing rentals last year. We are looking for value-add properties in B-C areas. ARV of $150-250K for flips and $75-150K for rentals. We strive to build neighborhoods up by doing high-quality remodels and go above and beyond the "paint the walls, change the carpet" mentality that is often seen.

If you are a wholesaler in the area I would love to chat further and develop a mutually beneficial relationship!

Hi BP,

I'm a new investor and have been wondering how much others utilize FB/IG/Social Media for their real estate business? I will (hopefully) have two houses ready to rent in the next two months that will need tenants, and will also be looking for additional property to purchase. What are your thoughts and experiences with posting on social media either to grow your portfolio or for looking for tenants? Do you suggest it or advise keeping to the professional websites? Should you wait until your business is a certain size before marketing?

Wichita has a lot of opportunity for investment properties, but like any location I would recommend studying the market before jumping in and buying. I.e. look at the neighborhood, school districts, up and coming, crime rates.. 

Personally I think it's tough to say a "good or bad" investment based on the zipcode alone. The market right now in Wichita is hot and we have a lot of investors, so most desirable properties for rental or flips are gone within the first few days. If the house has sat on the market for more than a few days I would question what factors are scaring off other investors (bad area, foundation problems, extremely high repair costs, etc).

@Account Closed, I do! 

Good to know on the rates! And right, but from the podcasts a lot of investors do low or no money down, but since I am planning to take everything I put in out, it's about the same thing. 

I agree with you, there Shane! The fee estimates I have received have been extremely higher than anticipated.. I hadn't had a chance to develop a relationship with a local back since I moved to Wichita almost a year ago so I'm working to grow with one to improve this process in the future.. Still looking for "THE" bank, prior experience in banking has made me extra particular in the qualities I prefer in my lenders.

Thankfully I am under contract so I've used this time to think strategy some more. I am leaning towards purchasing with cash on hand and acquiring a loan for the remodel. Once completed, refinancing into a traditional mortgage (still determining the which/time/rate on that piece).. BRRR with all money down is a thing, right? lol.

@Ana Marie B., the second bank I talked to said this was standard practice for commercial loans in the market, it could be my "newbie"ness but I'd never heard of this in real estate investments.. My current income and credit score would put me as a very favorable lendee so that wouldn't be the issue.

@Cassi Justiz Thank you!!