All Forum Posts by: Chris Dawson

Keegan,

Our company, Arrow Realty Network, works exclusively with clients who want to invest in the Kansas City real estate market.  One of my agents, Alicia Hortan, would be a great agent for you to get in touch with.  Her phone number is 816-878-1937.  She works only with new investors to the Kansas City market.  

Give Mike Peace a call at 913-731-6537.  Let him know that I sent you.

I've run into this issue before in Missouri. Even if the wife waves their rights to the property, you still have to have the wife sign a quit claim deed. It seems redundant to me, but that is how we roll in MO!

Was a title company involved when the special warranty deed was transferred to you? They should have disclosed the cloud on the title in the title search, however, since it was a special warranty deed, the second title company is only responsible for the transaction between you and the broker.

As a general rule, I would never accept a special warranty deed. It should always be a warranty deed. My guess is that no title company was used for the original transaction. I'm surprised that a mortgage broker would accept a special warranty deed.

Regardless, you are stuck in this mess. The best thing to do is get a title lawyer on the case to find the ex wife. If you were using a local title company, they should be able to help you find a good lawyer that specializes in this. If not, I can recommend a good one.

Hope this helps.

We use PropertyWare to manage our portfolios.  It has a feature that allows tenants to pay online via credit card or bank check. 

If you only have a few properties, PropertyWare will be overkill and too expensive.  Quickbooks used to have a rental plugin of some sort which would be much cheaper.  I don't know if they still make it.

Karen,

I do.  I will email them to you.

Central Bank and Arvest are pretty good at lending on multi family units here in Kansas City but it depends, of course, on location and strength of the buyer.  You should be able to find both on the web.

Welcome @Jacob Lair!  Kansas City offers lots of suburbs like Liberty and Blue Springs that will have great opportunities for you and your wife.  I look forward to hearing more from you.

@Lance Johnson welcome to BP!  What price points are you looking at in Kansas City?  What amount of cash flow are you wanting?  There are several areas in Kansas City that are hotbeds for investing, depending on your strategy.

Michael,

I have a few questions for you to clarify what you are wanting to do.  You said your goal was to buy rented, cash flowing properties then you mention California investors.  Are you looking to buy and hold or are you wanting to wholesale these properties to somebody out of state?  2 very different strategies. 

If you are wanting to buy and hold for cash flow, then why worry about what California investors want to buy?  You aren't selling anything, so it doesn't matter.

Are you thinking of doing something like a REIT? That would be a situation where you use a pool of investor's money to buy real estate which you can then either flip or hold for cash flow and long term appreciation. If this is the case, you would be looking for California (or anywhere else) investors who have cash to invest and want a low hassle way to invest in real estate.

Make sure you check out the podcasts on this site and others.  Study up on all of the ways you can invest in real estate before you jump in!

In the state of Missouri you are not allowed to accept a fee of any type for the sale of real estate unless you are a licensed real estate agent or broker.  As a real estate agent, you are not allowed to pay anybody a fee who doesn't have a real estate license.  However, the Missouri Real Estate Commission can only police licensed agents which means you can get away with getting paid a referral fee but the agent who pays it to you can and will lose their license if the MREC finds out about it.