All Forum Posts by: Marissa Carroll

@Logan Freeman Thanks for the input. I do see some that meet the 1% rule, but it would have to be a larger spread than that to meet my cash flow requirements. Usually when I analyze something at 1%, I have negative cash flow. I'm basically trying to see if there are other factors in the area that might make it worth sacrificing cash flow on this first deal. 

It's probably worth mentioning that I would be house hacking, which is why I'm more particular about location.

Hey BP of Kansas City!

I was wondering if anyone can provide some insight on the Blue Springs, MO area. I've been looking for sometime now to buy and hold a duplex. This area frequently looks attractive since the properties are reasonably priced and the schools are great, but the rents are incredibly low. Also, the taxes are a little higher than a lot of cities in the metro area, so the numbers never seem to work. I have also been reticent to buy here because I'd like to be closer to the Overland Park/Merriam area, but I'm mostly priced out of that market at this time.

Looking over the past year or so in Blue Springs, the rents have been typically <1% of the purchase price. Does anyone with intimate knowledge of the area have some thoughts - positive or negative - on whether it would be worth purchasing here with the rents being what they are? Any known development projects underway?

Thanks for your help!

@Timothy Aughinbaugh - Thanks for the advise! I'm totally lost without my trusty crime maps.

Hey everyone!

I'm looking at buying a duplex in Grandview, MO, and was wondering if someone who knows the area could shed some light. The property is located just off main street, just west of highway 71. How safe would you say the area is? Is it a decent area for buy and hold? Anything I should look out for? I know someone on here mentioned that many of the homes in the Belvidere area have poor foundations, not sure if it extends to this area. 

I usually look at crime mapping for these things, but the local police department doesn't seem to report to any. The neighborhood scout website has this area listed as very dangerous, which seems contrary to other things I've read. 

Any help would be appreciated!

I'm an architect in the commercial sector, so unfortunately I can't help you with residential recommendations. I would recommend figuring out more exactly what your scope is, budget, and what timeline you ideally would like it done in. Put this info and anything else you deem important into a document that you will use to interview architects. 

Then I would find and interview a few architects and get fees for your scope. You can probably search residential ones generally online, but you can also look at the AIA (American Institute of Architect's) state or local directory for names. 

Ask the interviewees what their thoughts are on your timeline, budget, and feasibility. They should be able to tell you if it's in line or if you need to adjust things. You may get different answers from different people. Ultimately, I would choose someone who will bring you through the process and teach you along the way. Transparency and good communication is incredibly important. 

Hope that's helpful.

@Quinton Slay - Major props for sticking to your guns. It sounds like you did everything you could to educate her and bring her into your vision. I've definitely been in the same position with someone I was sure I was going to spend my life with, and it's hard as hell to accept that some things just can't be resolved. 

Now that you have autonomy, you can create anything you want without anyone holding you back. You'll do great, and probably attract someone like-minded as you go forward. My present relationship is nearly a 180 from the last, but I've been amazed how much less stressed I am about not only financial and investing issues, but I know that I can fully trust my partner to make great life decisions. Major difference from the former, that I didn't realize till I had some time to reflect. 

Good luck in your investing journey! I'm a noob too and it's very exciting. Also, I think STL has plenty to offer.

@Kim Tucker

Oh wow, that's really good to know. Thanks for this information. I will definitely check out the link if I buy in Missouri.

@Kim Tucker- This may be a silly question, but can't you have the tenant put the water service in their name just like any other utility? 

Congrats! What area of KC is it located in?

I've been looking for more info on this as well. When the owner is an LLC, do you just mail it to the address listed for that? It seems like it wouldn't get to the person you want as easily, but some of the LLCs I've looked into only have a lawyer trustee or someone that's probably not the actual owner listed as the contact. Any suggestions?