All Forum Posts by: Dan Krupa

I recently passed the Missouri RE licensing exam and am about to start broker shopping. I would like to work part time as an agent and part-time focus on real estate investing.  

Does anyone have any advice on finding a good broker to work for? Things I should ask? Things to consider? Etc...

Thanks in advance for any help or advice BP. 

@C.J. Baumann, thanks for your service. I have been active duty Army for 12 years. However, I am leaving that behind soon. I purchased my first property in year 1 of active duty. Accumulated  a few more of the years.  Down to two at this point.  

People have mentioned the various pros to owning in military areas. Again, I want to stress that if you rent to military folks they have already passed a background check.(basically) Plus if you have their commanders/first sergeants information non payment is not an issue.  I have had some great experiences with military folks and one poor one. 

I would stress to  you to skip the property management company. Yep, you read that right. We have managed all of our own properties for the last two years and things have been smooth sailing. With our PMs we had issues all the time.  But that decision comes down to how involved you want to be.

Anyways, PM me if you want to talk.  We have flipped, we have BRRRed, we have buy and holds, and my wife and I are doing this full time now.  I will caution you though to buy smart and at the right price.  Despite military bases providing you ample renters with ensured payment.  

Best of luck to you! 

@Carl Jones - hands down the CC and car note. If it 12 to 16% interest, ignore all other advice and pay that down first. If the interest is in the single digits you might be able to find a deal that provides better COC but personally I would recommend paying down your debts. Added bonus - if you are planning on taking a loan to purchase an SFR paying off those debts will help your credit score. Best of luck to you.

@Kim Tucker, love the input. Can I ask though - where did you sign on that dealt with BPOs? I recently passed my real estate exam and am going to start broker shopping soon. I would love to do something similar.  

Thanks

@Nina Granberry welcome to BP and thanks for educating the next generation! Best of luck to you. 

@Ryan Sajdera that is a personal decision in many aspects. Do you want to see and check in on your properties? Would you prefer never seeing them and allowing someone else to manage all aspects but you make less cash flow? Focus on what your investing goals are and what your comfort level is with allowing others to manage your properties. Being a landlord is not hard but it does take a lot of research and some practice to ensure you aren't violating any laws, plus good systems. I would do some reading on turnkey and SFRs ownership. My recommendation is start with either turnkeys in KC or if you want a hands on project an SFR within 30 mins drive of where you live. Best of luck to you.

@Jonathan Schneider will be hosting Tycoon Talk Wednesday January 5th 2017 at 1100.

Tycoon Talk is a meetup of real estate investors and professionals for the purpose of networking, making deals, education, deliberation, and economic development. We believe that by meeting peers face to face builds trust and lasting relationships. This is a place to build teams, partnerships, to learn about the business, and to bolster our local communities. Free to any that would like to attend. Thank you to Magoon's Delicatessen for allowing us the use of your space. Please consider eating lunch. Get in on the ground floor of what is sure to be an influential and magnanimous group.

Please PM Jonathan Schneider if you have questions or would like additional information. 

Magoon’s Famous Delicatessen

632 S 8th St, St Joseph, MO 64501

*Interesting factoid: Magoon’s Deli is the oldest continuously operating deli west of the Mississippi. 

@Blake McHenry, lots of factors to consider. I don't know your personal situation but always consider the bigger picture and future wants/needs: family, education, taxes, regulation, growth of the state, infrastructure, etc...  My family and I recently moved from the East coast to KC, MO.  I spent countless hours researching Tampa, Raleigh, KC, Fort Worth, and a few places in CO and NM. Bottom line - the Midwest cities have the best cash flow. Which one is best for you...depends on you. Feel free to PM if you want to discuss what personal factors brought us here. Best of luck to you and cheers! 

@Kyle Godbout, to echo the sentiments above - heck yeah take that deal! Again, I would caution you to not over leverage yourself. Leverage is an amazing thing...to an extent. As long as you have adequate reserves then I don't see the issue. Best of luck to you!. 

@Nicole I., welcome to BP and good luck! SFR or multi?