All Forum Posts by: Michelle Etherton

Hello BP! I'm born and raised in KC but not very familiar with KCK. There have been some opportunities for flips and buy/holds in KCK and wondering those of you that invest or live in the area - are there great/good/bad areas you can share? On a more personal note, it's also on the short list of areas to buy a rental for my daughter to live in a couple of years so I definitely want to make sure she is in a good area! I know there are some areas seeing strong development. 

Thanks for your honest advice. Appreciate your help.

@Codi Clausen I'm in KC and would highly recommend if you are buying it sight unseen to have a foundation inspection as part of your inspections. About 9 out of 10 homes we look at have or had foundation issues from minor cracks to substantial problems that can run thousands of dollars to fix. It's just the nature of the beast in the Midwest. People want them, but they can be a huge expense so better to protect yourself. I can give you the name of a guy many of us use in KC. Also, if you elect to finish a basement any finished living area below grade does not get the same value in an appraisal as above grade. Good luck! KC is awesome.

Welcome, @Jon Roberts ! KC is a great place to invest. You will be amazed at what you will learn here on BP and the local meetups like MAREI. Feel free to reach out any time and hope to see you at one of the local meetups sometime!

Welcome, @John Webber! Hope to meet you at a meetup around KC sometime. 

Hi Brian! I started a thread on this as well to see how other agents are handling it. I don't wholesale (I understand that gets a little trickier) but do plan to buy direct to flip/rent. My broker said I can use the KCRAR forms and just disclose you are a licensed agent and that the seller is not represented. However, you can use your own forms as well - I figure using the KCRAR forms is just easier but not the only option. Again, not a wholesaler so not sure if that adds another level of complexity as an agent. I think @Kim Tucker the head of MAREI wholesales as an agent so maybe she can chime in with some advice?

I would also be interested in the properties when you get them under contract.

Good luck!

Hi Matt! I knew I couldn't be the only one! I'm hoping other agents weigh in here and share their experiences not just on which forms they use, but how home owners respond to them being an agent because I can see that going both ways. In the meantime, thanks for jumping in and best of luck to you and your wife! 

Hi Jason! Welcome! I would be happy to help you. I'm licensed in MO and KS and a fellow investor. I think you hit the nail on the head (yes, contractor pun intended) finding the right fit is the key and that all depends on what you are looking for in the relationship. 

Are you a general contractor or in a specialized field? I think many of us here in KC are always looking to connect with quality, reputable contractors so don't be shy about introducing yourself and what you do! 

Hi Justin! I'm an agent/investor in KC and I did go ahead and get my license in KS and MO (KC area is a bordering city) so I could get access to MLS and make a commission on the buy (if on market property) and sale. There are a lot of costs and time involved in getting and maintaining your license, but for me I make more with the license than it costs me. I don't know about Chicago, but here you have to be an active agent for I think 2 years before you can get your broker's license, along with several other requirements and costs to consider. On that - I would find a broker that is comfortable with you doing mostly investing and has a good split and just keep an agent's license.

On the inspections, that's something my husband (business partner) and I are also working through. He signed up for Inter Nachi inspection courses for a few months, but we are fortunate to have a friend that owns an inspection company franchise and he said my husband could ride around with him for training which will be much better than the courses. Maybe you could find a local inspector willing to let you go through a few inspections to learn?

Best of luck to you!

I am a licensed real estate agent in MO and KS as well as co-owner of an investment LLC with my husband. So far, we have only purchased properties on market and through a wholesaler, but have not done a direct deal yet. This year I want to up our marketing game to do more direct deals, but curious how other agent investors are doing it.

I confirmed with my broker the easiest way would be to use my local association forms and do the transaction as an agent with 0% commission, disclosing to the buyer I am a licensed agent and they are unrepresented in the transaction. I only have to pay the brokerage a small admin and E&O fee. This is versus doing the deal through our company as individuals with our own private sales contract forms. I feel either way I would still ethically need to disclose I am a licensed agent.

Any pros or cons to either way? I'm not sure if home owners are more receptive and comfortable working with an agent and professional association contracts or if this is a deterrent in any way? 

How are you doing your deals and what have your experiences been either way?

Thanks all!

Welcome @Chase Taylor! I'm a fellow investor in Independence. Reach out if I can help in any way. Best of luck to you!