All Forum Posts by: Joe Doran

Originally posted by @Art Perkitny:

@Lucy Sheahan, seems like 64105 is mainly B area, with some places being C grade. 

Hi @Art Perkitny, I'm curious what tool or resource produced this graphic? This is something I would definitely like to add to my toolbelt. Many thanks in advance.

Awesome. Thanks @Lee Ripma.

I'll add that as I was reviewing properties I noticed some of the listings have property taxes and insurance broken out. I spot checked the taxes at the county and they were accurate for the prior year. My point being that should someone's numbers be close enough to warrant digging deeper, these numbers LOOK LIKE they will be very close to the real deal. Granted, I only did 10 deals this evening so not exactly an earth shattering sample size...haha.

I'm running through deals with the Rental Calculator and it recommends talking to an insurance agent. I get that I would need to do that if the numbers are close enough on a deal to get serious about it, but are there some ballpark rules of thumb that can be used to use a budgetary number in my calculations to see if a deal is even in the ballpark before I bother an agent to get me an actual quote? Something like 1% of ARV, or something similar? I'm working in the Kansas City market.

Thanks in advance for any insight, advice, rules of thumb, etc!

@Lee Ripma Thanks!

Perfect. I think that pretty much answers my question there. To make a deal in JoCo you would basically need to get a great price, distressed, off market, etc., and add some value to it on your own. Then re-run numbers after rehab to see if it makes sense to hold or not. Thanks everyone!

How is appreciation in Johnson County vs Jackson County? I feel like Johnson County tries to develop in a manner to push property prices upward. Would this hold true for multi-family as well? And is that even an accurate assessment?

Hello all! I'm starting to analyze real estate in the Kansas City market and I'm seeing alot of discussion in Kansas City proper, with some minor discussions in surrounding areas on the Missouri side of the state line. Is property Johnson County on the Kansas side of the state line just not as desireable for some reason? It seems like discussions are almost entirely ignoring this market. What am I missing? I know the property is more expensive, but it should also fall into more of an A class, or high B class property in my mind as a worse case scenario. I would definitely like to open up a more detail discussion about the pros and cons of investing in Johnson County areas vs Jackson County areas. Please let me know your thoughts. Thanks everyone!

Thanks everyone. I suppose the first order of business is going to be to get good at analyzing deals in the market and have someone more experienced review them to make sure I'm not making critical mistakes in underwriting. I also need to identify a property manager and a contractor. I have at least one lender and one agent, but would like to fortify those positions with other reliable sources as well to round out the Core 4. I will be actively working on these areas in the coming weeks, so anyone who thinks they may be able to fulfill those roles, definitely reach out, assuming I don't find you first...lol.

Again, thanks everyone!

I'm also interested in deploying this strategy. I'm primarily concerned with mortgage clauses that indicate the mortgage could be called due upon a transfer of ownership. Do mortgage companies actually call a mortgage due when it is being successfully paid simply because of the change in ownership? How often? What scenarios would cause a mortgage company to actually call the mortgage? Also, does this vary by state. I will be primarily active in the Kansas and Missouri markets to start.

Hello everyone! I'm a newbie investor located in the Kansas City area interested in buy-and-hold rental property investing. I'm looking to learn about buy-and-hold rental property investing, other ways of investing in real estate, networking, building a team, and INVESTING! I've listened to hundreds of Bigger Pockets, Bigger Pockets Money, and Real Estate Rookie podcast episodes and have read several of the books often recommended as part of these shows. I have an insatiable appetite for learning about real estate investing and am ready to take the next step forward. I would like to amass a sizeable enough portfolio cash-flowing well enough to serve as "retirement income" when the time comes. Hit me up with questions, comments, etc. Let's connect!