All Forum Posts by: Garett Weber

@Drake Foreman Starting off 2022 strong and taking action-- I like it! I can't help much as far as Omaha, but I'm happy to connect and chat about the KC market and share any contacts that may be helpful to you!

Looking forward to seeing everyone again and starting off 2022 right!

@Grant Reuben there are a couple good REI groups on Facebook specifically for KC that you can join to make some connections with GC's (PM's, Agents, and lenders too). "Bridge Real Estate Investing Meetup" is probably the biggest/best in my opinion with 11,000+ members--many of which are experienced investors. MAREI is another good one. You can either post in their asking for a GC referral or look through old posts where others were looking for the same recommendations-- and you should find plenty of options in no time! Good way to find backup GC's or handymen too, if your go-to is overbooked!

@J.C. Martel , STR's in certain areas of KC (Midtown, Westport, Plaza, etc) have great returns! @Steven May can probably chime in with some official numbers.

I agree with @Caleb Brown, you have plenty of options in your financial position! If you are worried about keeping up with your current plan for rentals, there are plenty of alternative options outside of conventional lending (private lending or hard money loans, etc) that may work for you. These will likely have slightly less favorable rates/fees in the short term, but may allow you to scale quicker and potentially put less money down-- to leverage your money more efficiently in relation to your REI goals.

Not the right choice for everyone, but worth looking into! Happy to get you in touch with a couple lenders that can answer any questions you have and fill you in on the loan products they offer, shoot me a DM if you want their contact info.

Great initiative, and you should be well on your way to financial freedom with that level of income!

Welcome to BP @Blake Carlile and interesting background! Happy to answer any questions related to the market here in KC, and can recommend some PM/Lender/Agents as well. Plenty of folks on here that operate in KC and can help out. Best of luck!

If you are looking to be all in (purchase + rehab) under $100K, Blue Hills, Marlborough, Ruskin, or certain areas of the Historic Northeast may be a good option for you. Grandview, Ruskin, and certain areas within Raytown and Independence are good options too. I would look for straightforward value-add opportunities (turning a 2 bed/1 bath into a 3/1 or maybe a 3/1 to a 3/2, etc). Bumping up to the $115K-$140K price range would result in plenty more options in all the previously mentioned areas.

Have any of the deals brought to you been off-market, or are they all straight from the MLS?

@Drew Wood Great initiative and goals (Getting out of the 9-5 is probably why most of us are here!) I'm more than happy to look over the numbers on the deals you are talking about and offer my opinion if you'd find that helpful, just shoot me a DM. Cashflow isn't hard to find in KC, especially if you are targeting properties under $100K. My thought is the deals may be overpriced or are in locations that may not be the best fit for your REI goals.

As far as advice-- network, network, network. In my experience, real estate investors love talking about their mistakes and their successes which may help you avoid some mistakes of your own and gain outside perspective. It's also always great to have multiple opinions from realtors/contractors/lenders/etc, especially when just starting out.

Hope that helps!

Welcome! Happy to offer advice in the Kansas City market!

Hey Mackenzie! If you are newer to bigger pockets, I would look into a couple of books. Three that I found most helpful from BP are "The Book on Rental Property Investing" and "Investing in Real Estate with No and Low money Down" by Brandon Turner, and "The BRRRR Book" by David Green.

Assuming I read your post correctly-- if you will be keeping your current home as the rental and moving into the next home you purchase-- Look into any renovations, quick updates, or DIY projects you can implement before moving out that would bring in higher rents or that may be necessary before tenants move in. Also have a general plan such as deciding if you will go with traditional long term tenants or is this property in an area where there is a possibility to use as an Air BnB? Self managed or using a PM? Etc.

Use the next two years (or however long you are saving up) to network and start identifying potential members of your team as you prepare for your first tenants. "Your team" meaning-- lenders, agents, GC/Handyman, PM, CPA, etc. 

Hope those ideas are helpful!