All Forum Posts by: Chris Wilkerson

Career Education Systems. There are a two locations in the KC metro, one at the Ward Parkway shopping center and the other in the Gladstone area. The instructors are highly knowledgeable and they teach you exactly what you need to know to pass the test, nothing more nothing less. Make sure you take the test ASAP after getting the completion certificate for the pre-exam course. The longer you wait to take the test the higher chance you won't pass the first time. 

Originally posted by @John Warren:

@Chris Wilkerson I wouldn't focus so much on the size of the investment with what is going on. I would personally focus more on the quality of the asset. Are you in a good neighborhood (A or B class preferably). Is the building sound mechanically? Does it cash flow well? The 750k price point is also an awkward one in a lot of ways. I personally picked up a four unit for my first property and then jumped to a 9 unit and a 20 unit. All of my deals were 500k or under for the first few years until I picked up a 19 unit in Berwyn four years into my journey for 1.1 million. 

Don't be afraid to get started as it sounds like you have a lot going for you, but also make sure to align yourself with a great team in the market you want to invest in. 

Thanks for the insight! The rental property calculator has been extremely helpful and I feel like I'm getting very familiar with analyzing deals while staying firm on my cash flow and CoC ROI parameters. I know RE cost is relative based on where someone lives, but I figured most people would consider 750k+ to be big anywhere in the country. My idea of getting started is very similar to how you started as well.

Hey there everyone! I have been on my REI education journey for a little over year and have recently began working in the RE industry as an agent. Long before becoming interested in RE investing, I have saved up funds with the intent to do something with it one day. Like many, I was already putting money into IRAs, 401k, and 18 months ago I overcame my fear of losing money & lacking knowledge and put money into the stock market (still doing surprisingly well despite COVID-19).

I am still learning and forever will be, but I have begun wondering if the capital I have amassed over the years puts me in a position to be able to obtain a much larger investment portfolio sooner instead of having to wait to save up. Of course my major concern would be making newbie mistakes and losing a ton of money (I have been reading BP forums, books, podcasts, and local networking for 1.5+ years) but I still always have the fear of not knowing enough.

My primary question is, did anyone purchase something big early as their first ever RE investment (or very soon after the first) such as an apartment building, a multi-family package deal, SFH package (or quick subsequent purchases) with a total combined PP of $750k+? If so, how did it work out and what were the pros/cons? Thank you for any feedback, advice, and wisdom!

Hey there @Pete M.. I'm late to the post and obviously missed you while you were in KC, but if you're looking for some property lead sources in KC I'd be happy to help. My team and I have worked with many investors who live out of town. 

Awesome and thanks for sharing! I also look forward to seeing the final product.

Hi there everyone. My name is Chris and I have been living in Kansas City, MO for almost five years. I joined Bigger Pockets about two years ago and have been intermittently reading through the forums to build my RE industry knowledge. I started off my professional life as a commissioned officer in the Marine Corps and then transitioned into a director level position with a large corporate healthcare company. After nearly 10 years of military & corporate life, I have decided I want to focus my efforts full-time RE and finally begin taking some action on everything I have been learning. I joined my local RE investor meeting group three months ago and have began networking with other investors and making contacts with possible future "power team" members (title company managers, attorneys, RE agents, contractors, etc). Similar to many newbies, I am interested in wholesaling in order to gain more knowledge and confidence and will be focusing on marketing to a few specific categories of "motivated sellers". I am also interested in fix and flips and ultimately building a rental portfolio. If there is anyone in the KC metro reading this or anyone looking for deals in the KC area I'd love to connect! Thank you.

Hey there JJ, I would recommend requesting to join the Facebook group "Kansas City Real Estate Investors a MAREI Facebook Group" and asking this exact question. That group is full of investors all over the KC metro and I'm sure you'll get several recommendations from other investors or from contractors themselves.