All Forum Posts by: Miguel G.

My name is Brenten, I am a newbie and very interested in learning the business. I'm drawn to wholesaling but looking for advice and education on the market I have 10 years of medical device sells experience but want to learn about real estate in Kansas City. Looking to meet and get started in the South Kansas City ( Johnson county, KS) market.

I live on the Kansas side but things seem to be easier on the Missouri side. The rental market is HOT. I don't even get people calling me on the Kansas side but I am having better luck in Missouri and properties are cheaper. Those are my .02 cents based on the little experience I have.

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You don't need a license to wholesale as you're not selling the property. You are selling your interest in the property (contract), not the property itself. Selling properties without a license is illegal. Assigning contracts is not. Big difference.

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Originally posted by @Mike D'Arrigo:

i agree with @andrew syrios. The ROI can be very strong out of state. Cash flow can be very good in markets like indianapolis and kansas city but you need to know the areas well or you can get burned. If you're considering either of those markets, be sure to look at our we site where you can find some good information. Be sure to check out my podasts too.

Mike, I've lived in Kansas City for around 4 years on the Kansas side. I am not familiar with the Missouri side. Which areas do you think have the best ROI? Where would you recommend for a newbie who lives close to the area to start?

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Originally posted by @Andrew Syrios:

We almost never buy under $30,000 houses (and by this, I mean $30,000 all in, not purchase price), primarily for two reasons:

1) As you mentioned, areas with <$30,000 house generally have higher crime, more delinquency and tenant damages.

But also 2) These types of properties can't sustain such losses as easily. A roof costs the same foot for foot on a $30,000 house and a $300,000 house. Same with tenant damages. A house that only rents for say $600/month will take a very long time indeed to make up for one massive turnover.

And, as least in Kansas City, you can get properties in the $50-80,000 range that don't have nearly those kinds of problems and cash flow very well.

I was just in South Kansas City (Area Code 64134) and I was shocked at how ghetto it looked. But, then I told myself "if I buy a property I'll rent it out but now way I'd live there"....I'm trying to get over my shock but I know there is money to be made there. The residents expressed the horrible school system in Missouri added to the crime problems....sorry if I exaggerate but I saw shady people on the streets near gas stations with no real business and the houses for the most part look rundown...

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I'm looking for my first RE deal. If I come across a great opportunity I'll email you to see if I can get some comps in exchange for selling the property. Thanks.

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I have a lender who only lends on 65% of the ARV with a 15% yearly interest rate. However, I gotta pay 5 points and $3000 in other fees. My monthly payment of course is 15%/12 months. The problem is that I don't have the $12K plus in lender costs to complete a deal? Should I ask 2 hard-money lenders to lend me money? Or should I put the lender costs on a credit card? I'm not gonna lie, I don't have a lot of cash but I've read way too many books, webinars and other material. I need a little bit of advice.

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bandit signs

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Originally posted by @Christopher Webb:

Hello, I've been on Bigger Pockets for several years, mostly just browsing and listening to podcasts. I started out with a passion to own my own property management company and have recently met all the licensing requirements with the Missouri real estate commission and started taking on new clients. I'm based in the Kansas City area, live in Shawnee, but work all over the Kansas City metro, both Kansas & Missouri.

Last week I attended my first REIA meeting and set up a vendor booth to give out information on my management services. I'm looking to add more volume to my business . Does anyone have recommendations on how to continue to find new property management clients? I also mailed out about 300 post cards to absentee owners.

Appreciate any recommendations - really wanting to pick up some new clients right now. Thanks!

Chris, what service did you use to get your absentee owners?

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Does anybody know how I can get my hands on some lists from Johnson County in Kansas like absentee owner lists, probate lists, city code violators? I've heard numerous people say listsource does not provide lists for Kansas and I'll have to go to the courthouse. Anybody has a better idea? Also, for probate lists, do they publish anything on the local newspaper regarding the deseased person's estate?

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Blair, I sent you a colleague request. I didn't find the "message me" option.

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All Forum Posts by: Miguel G.

Miguel G. has started 17 posts and replied 68 times.

Post: New Member from south Kansas City area

Post: Acquiring a Real Estate License to Wholesale in Kansas City

Post: Best markets for turnkey investing

Post: SUB30kCLUB: why invest in sub30k properties in the first place?

Post: Newly Licensed Agent from Mission, KS!

Post: How to cover lender's cost of the loan

Post: Direct mailing

Post: Building Property Management in Kansas City

Post: Johnson County in Kansas lists

Post: Mailing lists for Kansas