All Forum Posts by: George Red

Hey all, remote investor here that has some property in 64132 and it looks like (online listings anyway) that there is a decent amount of flip activity happening between 75th and 85th between Troost and Prospect in south KC. Any veracity to that... looking to people in town with greater visibility than I do from OOS. I own a SFR on 75th and multi family just north of there in the Arleta rentals... trying to see if people are seeing an upswing in that area and long term prognosis is moving in the right direction.

Any insight appreciated!

@Brock Mogensen and @Brett Deas the part that is fuzzy to me is... when do you need to register with the SEC and what rules determine that. I have looked online but it seems kinda fuzzy and the idea seems great but my understanding is that doing a syndication requires a lot of capital to meet the proper SEC requirements. Some seem to opt for Joint Ventures as opposed to syndication but I have not been able to find "the line" legally in a way that makes complete sense about when to go through SEC and when that is not necessary. Your thoughts...

Unfortunately in the last freeze in KC I had a property where some pipes burst. The tenant assured me that he had the heater on but I called the gas company and they said that the gas has been off since the summer. I checked the lease and there is no stipulation saying that gas must be maintained in the unit and fortunately the tenant alerted me when water started to leak. We got the water shut off pretty quickly and I got a plumber out there to find the breaks and fix them... I'm just leaving insurance out of it as I would still need to pay the deductible and then my rates would go up in perpetuity (what a racket).  It sounds like your damage was more extensive and I think it would be prudent to have a plumber identify all the breaks and then involve insurance and have them confirm it is a covered expense and how to best proceed... a freeze like this has not come through KC in some years so I know a lot of people must have had to deal with burst pipes. Best of luck.

I have some open rentals on the market and two have been on the market for weeks… I know there was a cold snap recently which would disrupt some showings but trying to see how long landlords are experiencing to place tenants recently in KCMO. Zip is 64132 and one in 64109.

Any recent experience would be useful.

Where to begin... stock up on tin foil!

@Laura Marks thanks again for the insight, I spoke to the case manager and it looks like tenants from CSL come from different programs, one of them being housing the chronically homeless. I was informed that the potential tenant in question is a single mother in a transitional housing situation (not chronically homeless) and after talking to the case manager I feel better about things... plus they pay above market rent and a security deposit. I did learn about CPN's thanks to your post and the background check came back as a valid SSN (thanks for the heads up). We'll see how things progress and I'll post updates.

I personally would not. 7 years is the better part of a decade ago and the action was not repeated. I would potentially just keep an eye on things for the first few months more closely and make sure the deposit check clears ;). It would not be a hard no for me.

@Laura Marks ouch 10k in 3 months… mind if I ask what the tenant did and ask what you mean when you reference the psychology of the situation? Thanks for the insight, we’re supposed to do a background check before potentially placing but thanks for the info about the program no longer paying if tenant drops out. Something to consider for sure.

Hey all, I have a vacancy my realtor is working on filling in a duplex. She mentioned two housing programs in the KC area listed below. Reaching out to see if anyone has experience working with these organizations or placing tenants through them and what your experience was. Similar to HAKC, better... worse... any experience welcome and thanks in advance.

Programs

* Save Incorporated.

* Community Services League

Lol I've got a few...

* Better managed my former property manager.

* Approached rental property investing as more of a business than a side hustle.

* Didn't potentially over-improve properties

I'm about 2 years in so still learning (as we all are) but those are some of mine for 2023... you live and you learn and are typically better for the bruises.