All Forum Posts by: Janet Chou

@Henry Geneciran I've been doing out-of-state investments for my clients for a while. We started with words of mouth on selecting the PM then just experience from the past few years. I always share at least 2-3 sources with my clients so they can interview them. I also have a very good colleague who's a fellow realtor but also does PM. We have a mutual working relationship that I introduce my clients to him for PM after they purchase the properties. I also will never introduce someone to my clients if I do not trust them myself. Honesty is the most important thing to me. To me, my clients aren't here to see. They rely on me to be their eyes, hands, and legs. Most of my clients are oos. Not only do they trust me, but they also bring their friends to me so I can help them too. I take that a success if my investors are willing to share my info with their friends so their friends can make money too.

Personally I have 3 doors. However my latest acquisition did exactly the 2 things I mentioned. To me, my time is better used to do other things, enjoy life with my family. I am 35 mins away from my property. I didn't have to be there because I have contacts that I can call. But it's definitely taking extra time away from my schedule to take care of those things. My motto is share the wealth. One person can't make all the money, let others help you. 95% of my oos use PM services. I do have a client manages oos. He uses my PM to rent it out for him then he self-manage. But when things happened, he still called my PM (sewer backup into the house, flooded basement). In my experience, you really have to have someone that you can call upon and trust locally in order to self manage successfully. 

Hi Aaron, 

I am an investor friendly agent and very familiar with Leavenworth market. I also have contacts in the area that I can recommend for professional services (electrician, plumber, etc). Hit me up with questions if you'd like. 

Jagpreet, 

I am an investor and agent myself. I mainly work with out of state investors. I have many from CA. I am closing 2 in OP and Olathe tomorrow (3 for the first 2 weeks of Feb so far) for an investor from CA. I have special areas for investors who can still hit 1% in KC. I also have connections for you from trustworthy contractors to PM services. Feel free to connect. 

Overland Park is definitely a great area to invest in. My out of state investors like the area due to higher rent and high demand. It's the safer city in KC metro as well. You can run rentometer to see the rent in the area. It's definitely a great tool to have. Feel free to reach out if you ever need an investor friendly agent. 

I don't know if Kalvin's certified or not. However he's licensed and done many full rehab in Leawood/OP. I've personally used him for all of my flips. 

https://www.facebook.com/mahon...

Most of my out of state clients have a PM. It's just easier when things happen. The 8-10% management fee is well worth it when you need someone on the ground. No matter big or small things will happen. Do you want to spend New Year's eve calling hvac guy thousands of miles away because your tenants' furnace will only blow cold air? Or do you want to wake up first thing in the morning to a text telling you that they see sewer coming out in the yard? REI is an investment, it shouldn't be a 2nd job. Let someone has a share of your wealth to take care problems for you. So you can enjoy doing what you want.

1 bedrooms will not rent 800-900 in Stilwell. Stilwell is a newer area and it's far south from the heart of Johnson County. If the same property is in the heart of JOCO, then you can get 800-900. The 450-500 is more like it. If you are interested invest in JOCO, I've got some 8-10% cap properties.

My broker said the property could only be purchased with cash or rehab loan.

@Aaron Winters - In Kansas, there's something called the redemption period. Basically the house has been auctioned/foreclosured. But the owner has 12 months (or shorter if the bank finds the owners abandon the property) try to sell it to cover what they owed. If the redemption period expired, no one purchased the house, it'll go to the bank and become REO or the person who won it in the auction.