All Forum Posts by: Dan Krupa

@Elizabeth Palma that is really dependent on your end goal. Are you trying to be an agent, wholesaler, flipper, stager, designer, etc....? Each one will require you to be part of different online groups/communities and focus on different things. There will be some overlap but there isn't a one-size-fits-all for you're marketing and branding plan. Also, be very cautious about who you get contractor referrals from. I can tell you if you have been in the game a while and have good contractors you're not sharing them. We keep our guys tied up and working. I will share roofers, plumbers, etc... but crews and master electricians who do side work - good ones aren't being shared. You will need to find them and vet them yourself.  Get some mentorship on that if you don't have a ton of experience will hiring and vetting new contractors. 

@Filip Reutov a rock star PM company will make your life easy. If you're an OOS investor there are some big questions you should ask before you sign on with anyone. How do they screen? How do they conduct their lease-up and what is included in their lease-up fee? How do they conduct maintenance, capital expenditures, and semi-annual to annual checks? Do they have a background in maintenance or rehab? What are their fees? Talk to them about their record during covid, evictions, and who/how they designed their leases. Who and how do they handle the eviction process and then the move out/trash out. Hope that helps.   

@Elizabeth Njuguna to @Jacob Trogan point - you can buy sewer main insurance through KCMO. It is relatively inexpensive. That said, they will not cover you for pre-existing conditions. It is best to get the sewer main inspected, know what you are buying, and then purchase the insurance if a future break is your concern. 

For everyone else out there considering purchasing in KC from OOS - good, investor-focused, rock star agents can help you sort through all this stuff. 

@Elizabeth Njuguna everything in KC built before 80s and 90s was either cast iron, clay, some combination of those, or on a rare occasion Orangeburg, which they stopped using in the 40s. Cast and clay are very normal. That line could last 100 more years or could go in the next year.  Even plastic breaks, it is rare but it happens. 

1. Don't be scared or apprehensive because the line is cast and clay. That is very normal. My house has clay. Most of the houses we flip are cast and clay. My personal house has to augered once every couple of years because roots grow into the line where the gaskets connect, that is normal. 

2. The seller needs to install a clean-out on the main stack. They don't need to do an outside clean-out.  Be very careful what plumber you use. Many big companies will come in and say you need to do a ton of extra work that isn't needed but the seller does need to install a cleanout on the main stack and then have the line cleaned out. Then allow you to inspect. If they don't want to do that you need to either cancel or accept the house as-is and ask for a price reduction or the seller to pay a portion of your closing cost. 

3. Are you using an agent? If yes, hopefully, they are good and an investor also. If they are - they should easily be able to handle this for you and protect you.

Hope that helps. Feel free to DM me if you need anything else.

@Andrew Syrios haha, and humble brother. The most humble!

@Mel Adams listen to @Andrew Syrios. Those deals still exist but rare in decent areas, depending on your strategy. I have been doing this full time for almost five years and it is rare I am finding deals like for myself or my clients that aren't in terrible areas.  If you need some info on areas DM. I am happy to email you some stuff. 

@Tesho Akindele yes to both but primarily not understanding what sells in the market, over flipping, and getting ripped off by contractors.

@Mikha Sarmiento we have done 100+ flips in KCMO and have done 30ish BRRRs for OOS investors. My advice is don't! I am not saying that lightly. Even with a good, honest team, you are not going to make money. Most investors, even local ones, on their first flip will lose money. Sometimes up to 40k. Doing it out of state is a huge risk and it is extremely difficult with current market conditions. 

@Mike S. second everything @Mo Weis said

@Michael Magnell that is disappointing. The best lenders I know locally will only do 70 or 75% LTV, 75% with a proven track record and deposits on hand. I agree that national lenders are probably your best bet but act quickly.