All Forum Posts by: Dan Krupa

@Michelle Park Senyard - I hate to say this, but it depends on location, turnkey vs renovation, etc... I am happy to email you information. My clients and I are in Clay and Platte County. I want something to BRRR. Typically, I am looking for 75 to 120k to purchase with a 30 to 50k renovation and ARV 175 to 200k with rents being $1,500 to $2,000. We only invest in B-/C+ to A- areas. You can get better returns on rent in other areas, but we want safe areas with excellent school districts. Hopefully, that made sense and helped. If you are looking for turn-key you will be closer to those ARV numbers I mentioned.

@Graham Scott that is all we have done for six years. Happy to discuss this and see if we can help you. We offer all of those services. DM me. 

@Lisa H. @Timothy Howdeshell is spot on. I lived in KCMO for four years and then moved to Phoenix. Everything we do investing-wise is still there. We do property management, renovations, sales, etc... If you have the right team, the numbers are unbeatable vs. here or Cali. But again, you need someone on the ground with experience who has done this a lot and understands your strategy. 

@Michelle Park Senyard Riverside for STRs if you can find anything there. Especially the older neighborhood by Briarcliff. @Laura Williams is spot on. I love 3/1.5+ all around. We manage 75 properties and a HOA and have a decent portfolio ourselves. We have renovated and sold over 175 properties. Hands down, the best KCMO properties you can get, especially those built from 1940 to the end of the 1960s.

Quote from @Bruce Woodruff:

Quote from @Corey Conklin:

You need to understand why the Investors are asking for bids without materials. It’s because they have been burned in the past by paying a contractor for materials up front who walks with their money and doesn’t do any work, or contractors trying to overcharge. Why they are looking for the best deal. It’s because they are looking to maximize their investment. Why they are choosing the contractors they do. They don’t need someone who isn’t accountable and will want to charge insanely high prices.

While I agree generally with your post, I think the above selection has some assumptions that are overlooked. 

A customer/investor cannot be so stupid as to a) neglect to check a potential Contractor's credentials, b) pay a large sum of money to a crooked Contr, c) not insist that the Contr use proper Contracts, COs, Etc.

This happens continually on the Forum and it gives the Good Contactor community a bad name. Investors are business people and have zero excuse to give a Contr 50% up front. Then blame all Contractors for their own stupidity...?

Rant Off.

Maybe the worst take ever. I guess when you first started off you never made any mistakes, hired the wrong subs, got burned. The hubris of people…

I naively thought this was a place we came to share, learn, and ask questions. Didn’t realize failing or making mistakes wasn’t an option. 

@Hamza Riaz - feel free to DM me. I can assist here. Also, do you have any questions you will ask these companies? It is important to understand how they operate, their maintenance plans, mark ups, leasing strategy, record for evictions, etc... I could talk all day about this stuff. Still, not all PM companies are created equal, and the cheapest one is rarely the right fit. Finally, it should be a partnership. They should help and remind you about increasing home owners insurance coverage amounts each year, cap x strategies, etc...

@Cody M. - you are welcome

@Bruce Woodruff - In the last five years, in Kansas City, MO, I have renovated 170 houses, mostly full rebuilds from the foundation. You do your thing, and I will do mine. I stated very clearly I do not do public GC work or did you miss that somehow? 

@Kim Tucker , the weather has been amazing here! Between 95 and 65, sunny - this is the best time of the year. I won't be in town on Tuesday (I coach flag football that day) but will be back on the 18th and 19th. I wish I could make it. 

@Cody M. I run a 70+ property PM company now but started by reading Brandon Turner's book on landlording. Start there. A lot has changed; you must abide by all the KCMO rules and regulations. Ask a ton of questions. Keep yourself out of trouble, but I love controlling my properties and helping protect others.  Good luck! Also, I used Anderson and Associates to get my lease when I started. It is worth the money to have lawyers who are KC tenant/landlord law experts draw up the lease and all the addendums.