All Forum Posts by: Dan Torluemke

I agree. I’ve used Richard Scroggins several times and he has always been great. 

Wow!  Nice job.

Buy a rental.  Not sure what rate you are getting on your refi, but assuming 3.5% you will be paying about $7500 in interest over 30 years for that $12k you cashed out.  Borrowing at 3.5% to pay off debt at 2.5% doesn't make much sense to me. Maybe throw in an extra $100-$150/month from your monthly W2 savings to pay the car off faster.

Buyer beware.  As has been mentioned several times, the PM side is atrocious. I’ve noticed recently as well, due to the hot market in KC, the turnkey providers are pushing more and more into less desirable areas to make their numbers work. Know where you are buying.  Good luck! 

Hi All.

Looking for a recommendation for a foundation repair/waterproofing company. I have a rental in Prairie Village on a cinder block foundation that is having issues with standing water in the basement (unfinished) after heavy rains. 

Thanks!

Dan

Hi Kiera,

It can vary greatly depending on the area, but as a rough estimate I would say something like 0.7 - 1.4% on the Missouri side and 1.2 - 2.0% on the KS side.  

The median home price in KC is about $160k, while in Denver it is about $460k. I don’t see KC getting anywhere near that range in my lifetime or my 6 years olds, but KC is a great market for cash flow and appreciation. Having lived in both cities, there are many similarities and KC reminds me of Denver circa 2005-2008, but it will never see the growth Denver has experienced the last decade. Be careful where you invest, as William suggests.  Zips and towns vary greatly from neighborhood to neighborhood and a lot of people find their niche area and focus there. Definitely take a trip out here to explore the city before you invest. 

Not sure your price range or goals, but Lee’s Summit, Blue Springs, Liberty, Northland are all good areas to look. Taxes on the Kansas side can be quite a bit higher and make cash flow difficult so I would stick to Missouri. 

Hello KC investors.   

I was reading another forum in BP and someone mentioned they are getting rates on their rental refis at sub 4%.  Is anyone in KC seeing this locally?  If so, where are you getting rates that low?

Thanks!

Thank you both, I grew up in the Tulsa area and my family now lives in Yukon. I'm much more familiar with the OKC 'burbs than the city neighborhoods.  Appreciate your insight.

Hi OKC BP'ers!

I'm currently located in KC, but considering a move to OKC and/or investing in the market. Ideally, I would like to BRRRR, but could also purchase with traditional (25% down) financing. Prefer 3/2, decent schools, sub $150k ARV, 1% rule. Also open to 2-4 MFH. Can anyone point me to some zips or locations that might meet my criteria? Happy to connect with any fellow investors or agents that can offer advise on the OKC market.

Thanks!