All Forum Posts by: Rich Kniss

@Rhonda Davis I'd also consider thinking in terms of cost per square foot as another approach that might get you there quicker. Find similar houses and what they sold per square foot, average that, and that is what you could expect for your property. Then make adjustments as @Bob Okenwa suggests. I know that doesn't exactly answer your question, but it could help if there if you are struggling with exact comps. I hope that is helpful.

Alpha Title comes recommended by several people on BP and the local REA events, but I have not personally used them yet.

Great Job Laura! I remember talking with you about multi's at a MAREI event in December and could see you had your eye on the prize. Way to execute!

Raytown is a blue collar neighborhood. Fairly stable. There are a number of pockets within Raytown that I would consider investing in for SFR's. Just don't plan on appreciation when analyzing your deal.

There is a small area where KCMO employees (police, etc) can live and also be part of the Raytown school district, rather than the KCMO school district. I would focus on that area of overlap as it will always be sought after. I apologize for not knowing the exact boundaries. The husband of one of the people I work with at my day job, is a cop and she was talking in depth about it.

I hope that helps.

I don't know much about that area at a micro level, but the zip code is one I have as a "to avoid", based on cumulative research on the BP forums. There are a few wholesalers and turnkey providers in town that seem to like that area.

The company offering that home has a big presence in KC, and does venture into neighborhoods that have a higher risk, higher return. If you've done your research on them and are comfortable with the company, then I wouldn't necessarily discount the property as a possibility.

Did you have a chance to look at any properties in Raytown as well? Fairly close to this property, and a little more stable IMO. Blue collar area.

I hope that helps.

I can't say enough good things about Kansas City. We came here after college, as a temporary city until we figured out where we wanted to live, and haven't left in 31 years. It has everything a cosmopolitan city has, with down home family friendly people. Its a big small town and a small big town. The Chiefs, Royals, Country Club Plaza, street cars, music and arts, and museums. Lots to do. Great cost of living.

The suburbs in Overland Park are where most families go. Look in the Blue Valley School District and Shawnee Mission School district on the Kansas side to live for family neighborhoods (Missouri side to invest). Lots of private schools in midtown if you like older houses with character.

On the investment side, plenty of opportunities in whatever property you are looking for.

The City is experiencing quite a bit of growth. Lots of development commercial and residential. It is also insulated from the ups and down of the coasts.

OK, I'm a bit biased, but it really is a great city for everything you are looking for.

And I waited until the very end to mention the excellent BBQ.

Aloha.

Welcome Steve! I'm heavily involved with my kids as well (my wife works early mornings and late evenings), so I appreciate what you've experienced on the stay at home dad thing.

I'd be happy to provide any help I can and talk about what I've learned so far. I live in south Overland Park, so we are not too far away from each other. There are many KC investors that are active on the forums so you should learn a great deal.

Best of luck on your journey!

@Nathan Shepard, thanks for the engaging background story. I enjoyed reading it and understanding your perspective. BP is a great community and will be a great resource as you gain capital (creatively, I might add) and look for more properties. I'd start by listening to every BP podcast you can, and then review the show notes.

Check out Marei.org. They meet in the evenings on the second Tuesday of each month in an OP hotel, as well as host other events. (I need to get back to those meetings myself). Winvestors is another. KClend.com is a hard money lender that also has events. My partner has attended some of those.

Have you started driving any particular areas to understand them?

I'm happy to help in any way I can, just reach out. I live in OP as well.

@Bryce Moore, try REI Guard. I have not used them, but my realtor recommended them and they pop up quite a bit on the forums.

bridgeturnkey.com is highly recommended by others. I haven't worked directly with them though.