All Forum Posts by: Timothy Howdeshell

 Hi Spencer. It sounds like you have a good start on your journey in real estate. Congrats on making the jump from agent to investor early on. From what I hear, most never do this which is a bit confusing to me, but I digress. 

I invest in KC, but don't live locally. As @Joe Villeneuve stated, you're going to need to be more specific in your request for partnership and think also about what you can bring in as a partner (deals, money, experience, balance sheet, relationships, contractor ability, etc.). 

If you're not yet sure and want to supercharge your networking, 1-1 is not the way to go. There are several local meetups in KC devoted to investing. I encourage you to attend them all! MAREI is the local REIA and a fantastic resource. Check out their website. By going to the REIA meetings you can meet dozens of investors a night and form real relationships in person. Best of luck!

Not much else to be said on this one!

If a tenant doesn't want to agree to the inspections, they won't be renting from me! This is clearly spelled out in the lease and with the tenant when they move in.

If a tenant doesn't want their property to be inspected they should not rent, as any good asset manager will want to check on the health and safety of their assets. When I was a renter, I never minded this either. 2 hours twice a year is not a big intrusion.

 Sure! I used to have family that lived in KC, so when I was deciding on a market to pursue out of state I settled on a city where I had some connections. Being local helps so much, but if not local, you need to have boots on the ground. It is a cheaper market, landlord friendly, and a large city with diversity of employment and neighborhoods to suit all. 

I've done a little bit of everything in the residential space aside from short/medium term rentals. I've made the most money doing fix and rent. Ultimately there's no perfect strategies, just the perfect strategy for you. 

@Mike Axelsen Hi Mike, Congrats on making the decision to jump into real estate! I can tell you have the interest so making the commitment is the first step to making that career transition! 

What has prompted the interest to change from pharmacy to REI?

And Kansas City is a great market! Do you know which strategy you're wanting to start with initially? 

I'm not an agent, just a fellow investor in KC. 

@Hwan Kim Ultimately, only you wil be able to make the right decision as there are many factors. For instance, do you have a high income and are simply purchasing property to offset tax liability? Do you have an investment thesis (overall and for real estate)? 

We can provide talking points and things to consider, but you'll have to decide for yourself your risk tolerance, your future projections (on the wider economy and real estate), and your personal financial decision and goals. 

In general I agree with your supply/demand comments and what rate changes will do to prices. But the problem is that no one knows the timing of these things. Rates may stay high for a couple of years or more. Most economists seem to be projecting a decline, but will they be meaningful enough to swing the market wildly? 

In general I'm a fan of action today and course correcting later if needed. Best of luck! 

 Okay that makes a lot of sense. Thank you for the great explanation! It sounds like you've already got a great start to meeting good partners and relationships. If you have any questions, or need a recommendation, I'm happy to help.

It sounds like you've got the funding figured out and you have an understanding of the process, but are lacking contractor relationships and potentially deal flow. 

Any idea how you're going to find the deal? Are you looking on the MLS, on wholesale lists, or something else?

I didn't realize that Milwaukee was so affordable! I was thinking it was closer to $400k median, but I guess I was thinking of Madison. Why such a disparity? 

This may be just the thing that convinces me to "go pro"! I love stessa. It is the easiest way that I've seen to do your own bookeeping for rental real estate.