All Forum Posts by: Brady Hanna

Ali Boone - Great blog post!

J Scott - This is definitely a handy little guide to figure comps! Thanks for putting it together!

Thank you all for the advice!

Bill Gulley -I appreciate the insight! I am sure Springfield is a similar market to KC, and your advice is greatly appreciated!

Michael Spindler -I will definitely keep everyone posted!

Jon Holdman - You are right, I worded it terribly by saying for a $100,000 home you should expect $2,000 per month in rents.

What I meant is, I have yet to find a property that is receiving $1,000 in rents for around $50,000. These properties are all around $80,000-$100,000 which comes out to 1%-1.25%.

So my question for Kansas City investors really is: Is 1-1.25% a realistic expectation, or am I looking in the wrong areas?

Thanks all for the suggestions!

So I am new at investing in real estate and live in the Kansas City market. My wife and I are looking to do buy-and-hold rental properties and eventually (5-10 years) build up a portfolio of 25 properties. Since I'm a new investor, I have been reading through several books including bigger pockets ultimate beginners guide. In the book, Brandon Turner talks about a 2% rule of thumb, where you should shoot for monthly rents of 2% of the purchase price of your home.

So if you buy a $100,000 house, you should shoot for projected rents of $2,000.

In my very little experience, I haven't seen this applicable in KC (other than in awful parts of town, and we aren't looking to be slumlords). What would your rule of thumb % be that you look for? Any areas in town that give you better returns than others that aren't in bad areas of town?

We are working on our business plan right now, and this is an integral part in getting started.

Thanks in advance for the tips!!

Thank you all for the helpful advice! This definitely helps a ton and gets me on the right track!

@Brandon Turner We are looking for single family homes as rental properties in the Kansas City area. We are open to wholesale deals where we rehab the properties or already rehabbed properties as well. Thanks for the welcome guys!

So my wife and I are just starting our real estate business and are wanting to go through the courses and become licensed real estate agents in Kansas. We both have full time jobs and aren't looking to actively sell real estate to others, just use being an agent as a tool for helping us find rentals/sell rehab properties personally. We both have full time jobs also.

My question is, I noticed Kansas requires you to be affiliated with a broker to be licensed. What would be the best broker in Kansas City be for our situation? Any recommendations?

Also, are there brokers who would even work with us since we aren't going to be selling a ton of homes? Does a broker typically charge their agents anything to be affiliated with them?

Anything else we should know before going down this path?

Thanks in advance!

Hi all! I ran across this site after listening to the podcast and have to say this is a breath of fresh air! My wife and I are looking to start our real estate investing business and are trying to consume as much info as possible to hopefully avoid a few mistakes down the road! The only thing we kept running into were gurus trying to have us shell out $1,000's for their new fangled system. I look forward to learning and sharing my experiences.

We are planning on starting out with a couple rental properties in the next 6 months, so wish us luck!