All Forum Posts by: Michelle Lutz

Hi Kate, Roeland Park is a hot area. Why don't you take some pictures and put up a test ad on Zillow/Hotpads/Tulia to see if you can get high enough rent to make your primary residence cash flow? Then start the hunt for a nice tri or quad you can house hack with super low owner interest occupied loan? Let me know if you want to chat further about this or if you want me to set you up on email for every new MF property that comes on market in your target area. 

Hey Hey Hey, the next BP Kansas City Meetup is scheduled for July 18th at 7:30pm at the Well in Waldo! We're such a friendly, fun group with lots of knowledge to share. Interested in getting started real estate investing? Already run a real estate empire and answer to the title of Mogul? This is your group! No pitches or anything formal, come as you are. We'll be meeting in the downstairs bar at the Well in Waldo, 7pm on July 18th. Have questions? Hit up @Quinten Sepe, @John Wires or myself. :-)

Hi Nicholas, 

Be sure to join the KC BP Facebook page and join us at one of our monthly meet ups. :-)

Michelle

Here is how I understand it. The Rental Ready program is for all rental properties in Independence, MO. There are 6 different 'pre-approved and qualified' inspectors and the most they can charge is $50 per unit. You must use one of the inspectors on the list. They do a super brief inspection (like open the door and look for a smoke detector) and sign your paperwork and leave. Re-inspection is required every 2 years. You also need to buy a business license for $50 a year as well in order to operate a rental in Independence. I don't the feeling that the city is very on top of this program, not sure how long it would have taken them to figure out I needed an inspection or what they do for non-compliance. 

Yes, I think BP is preventing me from listing that inspector contact info directly here but I just went thru the process and found a great inspector. Will PM you.

Commercial appraisals in Kansas City are taking about 3-5 weeks right now. I recommend asking your lender to bid the appraisal out for cost and turn around time. Ultimately you'll be paying the bill on it so its nice to know how much it's going to be upfront. 

Berkshire Hathaway has several different insurance products for MF. I recently compared rates, deductibles, etc between Berkshire Hathaway and State Auto on a 16 unit and they were considerably higher. One of the biggest differences was the cap on lost revenue in case of a loss. BH only covered 5 months and others were much higher or unlimited on actual loss of income.

Thanks to everyone who came out last night to chat real estate investing. Nice to see such great turnout. Stay turned for the next Kansas City BP meetup. :-)

So nice to see so many local KC investors on here. Feel free to stop by the next BP Meetup, May 23rd 7:30pm at the Well in Waldo. See more details on the events page. :-)

@Elizabeth Crosley the next May meetup is taking place at the Well in Waldo. Hope you can come out an join us. Here is the information:

Hi Everyone! Its time for the next Kansas City meetup Wednesday, May 23rd at 7:30pm at The Well in Waldo. Come out and meet some fellow BP'ers and chat all things real estate investing. No experience needed, just come hang out. There is no formal presentation and no agenda. Just lots of great networking and information to be had. We are trying to get a table on the rooftop patio but might be relegated to the downstairs main room. Ask at the door when you come in where we're located. I'll try to put a sign on the table. Organized by @Quinten Sepe , @John Wires and myself. :-)