All Forum Posts by: Carol Otis

@Jeremy Woods Where in Colorado do you live? I spent a year in Buena Vista a few years back and while it was GOREGOUS I'm a huge baby when it comes to the cold and couldn't stand it snowing from October to May.

I own a couple of multifamily units in Eldorado (about 35 minutes east of Wichita) and I have an agent that I would highly recommend. I am also a licensed realtor and own a property management company, Allsbury Property Management. If you'd be interested I'd love to speak with you about my company and/or helping you find your properties here in Wichita.

@William S.

Your post was amazing! I especially like point number 2 under DIY Learnings. That stuff does add up and it adds up fast!! While at the store you don't think much about spending $5 on a blind or $40 on an above toilet cabinet, but when you sit down and calculate everything, it kid of just hits you like a ton of bricks.

I have never thought about buying out of state. (I live in the south east part of Kansas and people are coming here to buy!) How did that experience go for you? How did you find the realtor and property manager you wanted to work with in Kansas City? I am a licensed realtor and own a property management company and was curious how investors are choosing who to work with so I can throw my name in that circle!

I worked for RPM Wichita from May 2015 to November 2015 to help me prepare and learn more about property management before my fiancé and I opened our own company. However, what I learned there was how NOT to run a PM company. Honestly, I'm not surprised they are closing.

Here in Kansas there are no regulations for a property management company. We aren't required to have any property management training or heck, even real estate training. Its kind of just a free-for-all and it seems like every Joe-blow who thinks they can make a quick profit has a new PM company every week.

Hey there Luis, I hope things are going well in your neck of the woods.

I live in El Dorado, KS and the rental market around here is STRONG. My finance and I bought 2 duplexes for $110,000 last November, moved in to one and have had no trouble keeping the other three rented. After taxes, insurance, mortgage payment, and setting money aside for repairs, we cash flow around $600 a month. To us, we got a stellar deal. 

My other owners, (we run a property management company, APM) have had good luck here as well. If youd like to talk more, just send me a message.

Do you currently utilize a property management company, or have you thought about doing so?

Allsbury Property Management is a new property management company based out of El Dorado, Kansas, but are serving all of Wichita and the surround cities. We figured the best way to serve you, is to ask what it is that you like or don't like about your current company. There will be no reaching out to you once the survey is completed unless you give us permission to do so. Again, thank you for your time!

https://www.surveymonkey.com/r/MT8Y5YX

This home is practically brand new on the inside and would make a financially sound turn key rental for an investor! With new carpet, fresh paint, new light fixtures, and counter tops in the kitchen, and a remodeled bathroom the only thing you'll have to worry about is running background checks on your tenants.;

Positive cash on cash ratio being 26.10% and that's on the low end of rent! You can get up to $800 a month in Park City! I'll be holding an open house at the property this weekend, but if you would like a chance to see it before then give me a call or text at (316) 648-6375.

You made a great choice when you joined this site! I've only been a member for about a week or so, but I have already learned so much. It's great that you've decided to start investing in real estate. There is a quote by Marshall Field that I think sums up why real estate is such a great investment.

“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy.”
 

The REIA group sounds really interesting and I hope to be able to make it next month! I'm a Realtor that has been working with investors and I've decided that I'm ready to start trying my hand at the buy and hold method. The market here in Wichita is booming, but unfortunately we're starting to run low on inventory. We've got more buyers than we do sellers.

 Thanks Shane! It does look like this is a great site, there's so much information I can't stop reading it! How long have you been a member of the site? Any tips on some really good forms or blogs?

I am somewhat of a newer agent out of Wichita, Kansas. I've been working with mostly investors since I've obtained my license which goes great with the fact that I am a property manager for a Property Management Company that helps over 150 property owners maintain their property, find tenants to move in, and make sure that they pay!
I do have a feel for what makes a good investment property and how to calculate returns and things like that, but I am always looking to learn more and maybe teach a few things to new investors.