All Forum Posts by: Thomas Holman

Wow, awesome advice @Steven Silva. There is definitely a lot to overcome for that first deal especially. I'm looking in the Kansas City market, and it does seem like the market is tightening. It's very hard to find a deal that will cash flow based on my estimates. Perhaps I'm too conservative, but looking for that right deal then moving decisively is going to be key. 

Thanks for the insight, and good luck with your flip! 

@Paul Timmins I'll definitely be contacting you to check out your training!

@Steven Silva, thanks for the great encouragement! It's interesting that you noticed that about me, I am definitely gonna be one of those analysis paralysis people. What are some ways you fight against this paralysis and force yourself to take action? 

Right now my major stumbling block is going to be finding a ridiculously awesome property manager where I want to invest in KC. I definitely want to jump in and take advantage of this market and start putting my money to work for me!

This is a GREAT post, doing almost exactly what I would like to do. Very encouraged to hear that you can get decent cash flow even with the added cost of the turnkey service.

Congratulations!

Good morning to the BP community!

As the title of this thread suggests, I'm looking to make contact with some wholesalers/agents/brokers in the Kansas City area who would like to send possible deals my way.

I'm looking for a duplex or triplex in the $100-150k range. The neighborhoods I'm looking at are Longview, Lee's Summit, Grain Valley, Grandview, Independence area.

I'm not really interested in turnkey services, as I have some good contacts for general contractor.

If you have any possible leads on a cash-flowing unit, please let me know!

Erik, It's great to hear from you! I'd love to hear about how you're doing so far. Are you investing in KC?

Matt,

Glad to see there are some other investors interested in the KC area. If you're in wholesaling, I'd love to hear what you're offering sometime. I'm looking to get involved in the market there in KC in the near future.

If you'd like to see more about what I'm interested in getting into, here's my new user intro:

https://www.biggerpockets.com/forums/86/topics/299091-meetup-in-kansas-city-missouri

Charlie,

Sounds like you and I are in the same boat, except that I'm looking into multifamily homes specifically in the KC area. I wish you good luck with everything! I'll be checking in here in the future to see how you're doing. There is a group of investors from the KC area that are meeting up this Saturday, and I think they plan on doing a monthly thing, might be a great opportunity for you to meet with them.

check it out:

https://www.biggerpockets.com/forums/86/topics/299091-meetup-in-kansas-city-missouri

This sounds like a great opportunity! I'm very interested in the KC market, but don't live in KC. I'd love to hear what everyone discussed, and also to virtually introduce myself: check out my member intro here. Looking forward to hearing how it goes!

Good afternoon, everyone!

Like many of the others who post here, I'm new to the real estate game. I'm a pretty frugal guy, been saving my whole working life, investing in stocks and bonds, etc. Now I'm ready to step up my investing game by branching out into some real estate.

I'm still in the process of reading through every real estate book I can get my hands on, and I'm very excited to start making deals in the near future. Although we are currently living in the Southern California area, my wife and I are thinking that small multifamily properties around the Kansas city area (her home town) will be our best bet. We are a dual military couple and will need to rely heavily on a good team regardless of which market we get into, due to deployments, busy work schedule, etc. 

Through my early research, KC looks like a great market for achieving good cash flow with small multifamily rentals. I also hope to leverage some of my wife's contacts in the area to meet good people with whom I can work. I am planning to use @Brandon Turner's BRRRR method to get a little bit of leverage going to eventually branch out into larger properties, which will ultimately help me reach my goal of amassing $800k of net worth by 2021! I realize this is an ambitious goal given some of the schools of thought out there on the real estate market and the dangers of getting overleveraged, but with a level head, hard work, and a little luck I think there is definitely money to be made here.

Long term, if things work out, I envision branching out into larger multifamily properties and syndicated deals. I may even look into flipping. Right now I'm really just hoping to offset my rental costs with some good cash flow and equity building; thus, my short-term goal of reaching $2k of cash flow within two years. Just let me know if this sounds a little too irrationally exuberant!

But for the moment, I'm just focused on learning the basics of researching markets, analyzing deals (including how to estimate rehab costs), how to assemble a good team, and financing options. I have realized in my readings (and listening to the awesome BiggerPockets podcast)  that who you know is about as important as anything in this business, so I look forward to making as many contacts in the KC market as I can. I also look forward to leveraging this amazing online community to learn as much as I can! Cheers!