New member starting my real estate journey
New to Real Estate · Kansas City · Member since 2026 · 1 post · 5 votes
New member starting my real estate journey
Most Popular Reply
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
3wHappy to sit down and go over the market. KC has a lot of variety and it's viable for many strategies
16 Replies
- 3wBenn MartensonBusiness MemberReal Estate Agent · Ventura, CA · Member since 2026 · 17 posts · 7 votes
Peter, welcome to the journey. My advice would be simple: find a property that has value and don’t overpay on your first investment. Make it functional. People need housing, it doesn’t have to be high-end. If it’s clean, safe, functional and in a good location, you can have a great rental. I’d also put a lot of your time and energy into vetting your tenants. A great property with a bad tenant can become a nightmare, while a solid tenant can make owning a rental pretty straightforward. Having consistent, objective screening criteria is important as well. Buy right, keep it simple, take care of your tenants and your property, and let time work for you. Best, Benn
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes3w
Quote from @Peter Craffey:
Hi all.
My name is Peter and I just joined the community here. I live in Kansas City with my wife and young son and have always thought about investing in real estate but now that I have some money built up from my current job I feel like it is finally time to pursue this dream.
I think my plan is to buy single family homes or multifamily homes initially that I will rent out. I think I would prefer buying properties near where I live so that I can easily manage things at first. Eventually I would like to progress into larger properties and spread out over a larger geographic area.If anybody has any advice I would greatly appreciate hearing what you have to say. Also, if anyone is based out of the Kansas City area and would like to take on a new customer/client please let me know. I feel as though I know how to start the process but do not want to get myself stuck in a bad position because I made a stupid mistake.
Thank you, Peter!
My take on it is to get some preliminary training at least. There are a dozen ways to go and it's cheaper making the decisions at the start than rather than spending a lot of money and finding out you're on the wrong path for you. Yes, there are a lot of things to know and sorting that out at the beginning puts you a step ahead of the game.
- Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes3w
Happy to sit down and go over the market. KC has a lot of variety and it's viable for many strategies
- Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes3w
Welcome if you want to look at multifamily I have some good sales statistics for you.
- 3wArman AhmedPro MemberReal Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 916 votes
Quote from @Peter Craffey:
Hi all.
My name is Peter and I just joined the community here. I live in Kansas City with my wife and young son and have always thought about investing in real estate but now that I have some money built up from my current job I feel like it is finally time to pursue this dream.
I think my plan is to buy single family homes or multifamily homes initially that I will rent out. I think I would prefer buying properties near where I live so that I can easily manage things at first. Eventually I would like to progress into larger properties and spread out over a larger geographic area.If anybody has any advice I would greatly appreciate hearing what you have to say. Also, if anyone is based out of the Kansas City area and would like to take on a new customer/client please let me know. I feel as though I know how to start the process but do not want to get myself stuck in a bad position because I made a stupid mistake.
Thank you, Peter!
Hey Peter, congrats on getting started. I’d focus on getting that first rental right rather than trying to scale too quickly. Kansas City makes sense since you’re local, but I’d also keep other Midwest markets like Ohio on your radar as you grow. Ohio can offer lower entry points and solid rental opportunities, especially once you have a good local team in place.
- Member since 2026 · 2 posts · 0 votes3w
Quote from @Arman Ahmed:
Quote from @Peter Craffey:
Hi all.
My name is Peter and I just joined the community here. I live in Kansas City with my wife and young son and have always thought about investing in real estate but now that I have some money built up from my current job I feel like it is finally time to pursue this dream.
I think my plan is to buy single family homes or multifamily homes initially that I will rent out. I think I would prefer buying properties near where I live so that I can easily manage things at first. Eventually I would like to progress into larger properties and spread out over a larger geographic area.If anybody has any advice I would greatly appreciate hearing what you have to say. Also, if anyone is based out of the Kansas City area and would like to take on a new customer/client please let me know. I feel as though I know how to start the process but do not want to get myself stuck in a bad position because I made a stupid mistake.
Thank you, Peter!
Hey Peter, congrats on getting started. I’d focus on getting that first rental right rather than trying to scale too quickly. Kansas City makes sense since you’re local, but I’d also keep other Midwest markets like Ohio on your radar as you grow. Ohio can offer lower entry points and solid rental opportunities, especially once you have a good local team in place.
- Member since 2026 · 2 posts · 0 votes3w
Quote from @Arman Ahmed:
Quote from @Peter Craffey:
Hi all.
My name is Peter and I just joined the community here. I live in Kansas City with my wife and young son and have always thought about investing in real estate but now that I have some money built up from my current job I feel like it is finally time to pursue this dream.
I think my plan is to buy single family homes or multifamily homes initially that I will rent out. I think I would prefer buying properties near where I live so that I can easily manage things at first. Eventually I would like to progress into larger properties and spread out over a larger geographic area.If anybody has any advice I would greatly appreciate hearing what you have to say. Also, if anyone is based out of the Kansas City area and would like to take on a new customer/client please let me know. I feel as though I know how to start the process but do not want to get myself stuck in a bad position because I made a stupid mistake.
Thank you, Peter!
Hey Peter, congrats on getting started. I’d focus on getting that first rental right rather than trying to scale too quickly. Kansas City makes sense since you’re local, but I’d also keep other Midwest markets like Ohio on your radar as you grow. Ohio can offer lower entry points and solid rental opportunities, especially once you have a good local team in place.
- Financial Advisor · FL · Member since 2024 · 441 posts · 99 votes3w
Welcome to the community, Peter!
Kansas City is a great market for cash flow. Starting close to home with single-family or small multi-family properties is a smart way to learn the ropes before scaling up.
A few quick tips:
Factor in management: Always account for property management in your numbers, even if you plan to self-manage at first.
Build your local team early: Connect with an investor-friendly agent, a reliable contractor, and a solid lender before making offers.
Check out local meetups: Joining groups like MAREI in KC is a fast way to meet local pros and vendors.
Feel free to reach out anytime. Wish you and your family the best on this journey!
- 3wHarry B.Pro MemberLender · New York, NY · Member since 2026 · 52 posts · 17 votes
Quote from @Peter Craffey:
Hi all.
My name is Peter and I just joined the community here. I live in Kansas City with my wife and young son and have always thought about investing in real estate but now that I have some money built up from my current job I feel like it is finally time to pursue this dream. Hey Peter! Welcome aboard this crazy ride called "real estate"!. Real estate amongst others, can be a really safe investment , compared to stocks, bonds, 401k etc and also can have tremendous upside potential!
I think my plan is to buy single family homes or multifamily homes initially that I will rent out. I think I would prefer buying properties near where I live so that I can easily manage things at first. Eventually I would like to progress into larger properties and spread out over a larger geographic area.--If may make a suggestion here. Start with distressed properties. In my opinion the most upside potential begins with the most elbow grease.If you are not 'handy' connect with someone who is, (hopefully licensed) and allow his experience to help you get accurate quotes for rehab. Then you can have a safe strategy from there. Note, financing these "Fix and Flip" loans is also easier, and allows more leveraged deals (higher loan to value) with you needing less out of pocket.-6 months later you should be closing your cash out refi if you're keeping it or using a 1031 exchange for the proceeds from flipping it.If anybody has any advice I would greatly appreciate hearing what you have to say. Also, if anyone is based out of the Kansas City area and would like to take on a new customer/client please let me know.- Check out eventbrite,, download the free app and it should be pretty easy to find real estate investing events.
I feel as though I know how to start the process but do not want to get myself stuck in a bad position because I made a stupid mistake. -Measure twice and cut once.FNF turns a profit faster than BRRR. A GC makes the difference. Wholesalers are unloading arv deals every month. Structure good contracts with seller's concessions.
Your greatest fear should surround a bad contractor or a bad tenant,,,hedge yourself.
Thank you, Peter! -- You're welcome,Harry!
- 3wMilton ChamberlainPro MemberReal Estate Agent · Kansas City, MO · Member since 2019 · 235 posts · 107 votes
Hi Peter, I help out local investors buy and sell SFR and small multi, as well as STR. The owner occupant multi family route is the best path forward from a numbers perspective, and I would aim for a A/B market region with strongly desired and high rated schools, where historically you will get the best rent and market value aprreciation and have lower overall expenses. but if you would like to discuss your specific goals with me and discuss what strategies would help you best achieve them, I'd love to meet up over coffee to discuss further. I bought my first 3 SFR LTR that I still own today back in 2020 when I just had my son, so I can relate! :) I also provide make-rent and make-list services ranging from light touch ups, deep cleaning and staging all the way up to arranging and facilitating major repairs and gut/update projects.
- 3wGregory AcsPro MemberLender · MD · Member since 2025 · 158 posts · 57 votes
I think you’re starting with the right mindset by staying close to home for your first investment. I’d spend time defining your buy box and understanding your financing options before looking at properties so you know exactly what fits your budget and goals. A solid first deal is usually a better foundation than trying to scale too quickly.
- Lender · Denver, CO · Member since 2021 · 41 posts · 11 votes2w
@Peter Craffey Welcome, Peter — good instinct starting local. Managing your own SFRs/small multifamily nearby while you learn the ropes is exactly how a lot of successful investors get their footing before they scale out geographically or into bigger properties.
One thing worth putting on your radar before you get too far into shopping for a property: how you finance it matters as much as what you buy. A lot of first-time investors default to their personal bank because it's familiar, without realizing investment-property lending is its own category — different qualification standards (some lenders look more at the property's cash flow than purely your personal income/DTI), different terms, and often a faster close than a conventional bank mortgage geared toward owner-occupants. Depending on how you're set up financially, that can meaningfully change what you're able to buy and how fast you can move on a deal you like.
It's also worth sorting out now rather than after you find a property — whatever financing approach and lender relationship you build on deal #1 tends to become the template as you expand into multifamily and other markets down the line. Better to understand the landscape before you're under contract with a clock running than to scramble at the last minute.
I'm on the lending side of real estate — happy to walk you through how investment lending differs from a standard bank mortgage and answer any questions as you think through next steps. No pressure to have a property lined up first.
- SFR Investor · Memphis, TN · Member since 2013 · 28 posts · 15 votes1w
It’s an exciting milestone to reach the point where you’re ready to transition from thinking about real estate to actively pursuing it, especially with a family in Kansas City.
The biggest challenge for most first-time investors isn't finding a property; it's avoiding the trap of tying up all your available cash into a down payment and then finding yourself without a buffer for the inevitable surprises that come with property ownership.
Since you are just getting started, here are a few things to keep in mind as you begin evaluating the Kansas City market:
Protecting your liquidity
When you calculate your initial investment, avoid the temptation to look only at the down payment and closing costs. You should factor in a "reserve fund"—money specifically set aside for vacancy, maintenance, and capital expenditures (like a furnace or roof repair). Because you have a family, you’ll likely want to ensure that any investment you make doesn't become a source of financial stress if a repair is needed unexpectedly.
Building your criteria
You can gain a lot of clarity by establishing your "buy box" before you ever look at a listing. For example, decide early on:
* Property Type:
Does a single-family home (which may be easier to manage and potentially have longer-term tenants) fit your goals better than a small multifamily (which offers multiple income streams but higher management intensity)?
* Neighborhood:
Focus on areas where you understand the rental demand. Since you live in the area, you have the advantage of being able to visit neighborhoods to see how they feel at different times of the day.
Stress-testing the numbers
When you look at potential deals, don't just compare the rent to the mortgage payment. A helpful approach is to subtract a realistic percentage for property management (even if you plan to do it yourself initially), insurance, taxes, maintenance, and vacancy. If the property doesn't show potential to cash flow after those expenses are factored in, it may be worth moving on to the next opportunity.
Next steps
You might start by simply tracking a few properties in your preferred neighborhoods. Don't worry about buying the first one you see; focus on running the numbers on ten different properties. You'll quickly develop an eye for what a "good deal" looks like in your specific market and learn to spot when the math doesn't make sense.
There’s also Passive Impact a Podcast, where topics like real estate investing and housing strategies are discussed and may be helpful as you continue exploring your options.
I hope this helps.
- 1wAshish AcharyaBusiness MemberCPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
Peter, starting close to home is a smart way to learn because you can actually see the properties, meet contractors, understand neighborhoods, and get a feel for what rents and repairs look like in real life.
For your first deal, I’d keep the buy box narrow. Decide whether you want a single-family rental or small multifamily first, then set a target purchase price, minimum cash flow, reserve requirement, and maximum rehab you’re comfortable taking on.
I'd also avoid buying just because you finally have capital available. The first property should still work after vacancy, repairs, CapEx, taxes, insurance, management, and financing are all included. A deal that only works if nothing goes wrong is usually the one that teaches the most expensive lesson.
From the tax side, once the property is placed in service, depreciation begins. Depending on the property, cost segregation may also be worth evaluating, but I’d first make sure the rental makes sense operationally and that any resulting losses are actually useful in your tax situation.
Since you eventually want to scale into larger properties, I’d also start keeping clean property-level books from day one. That makes financing, tax planning, and portfolio analysis much easier later.
Feel free to DM me, I’d be happy to send over a few resources that might help you evaluate your first Kansas City rental.
INVESTOR FRIENDLY CPA®5241 Reviews - Member since 2026 · 15 posts · 3 votes1w
Starting with one property and really learning the numbers is a solid way to build experience. Don’t rush the process. Every deal, even the ones that don’t work out, will teach you something for the next one.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes5d
Quote from @Peter Craffey:
Hi all.
My name is Peter and I just joined the community here. I live in Kansas City with my wife and young son and have always thought about investing in real estate but now that I have some money built up from my current job I feel like it is finally time to pursue this dream.
I think my plan is to buy single family homes or multifamily homes initially that I will rent out. I think I would prefer buying properties near where I live so that I can easily manage things at first. Eventually I would like to progress into larger properties and spread out over a larger geographic area.If anybody has any advice I would greatly appreciate hearing what you have to say. Also, if anyone is based out of the Kansas City area and would like to take on a new customer/client please let me know. I feel as though I know how to start the process but do not want to get myself stuck in a bad position because I made a stupid mistake.
Thank you, Peter!
When we first started out - more than a few years ago - :-) I involved my kids and they learned some valuable lessons along the way. But I also bought in neighborhoods they could play in the yard and not be bothered. I still only buy properties where it's safe for my wife (of a very long time) can safely walk down the street. Don't over look that ingredient, it pays off. The house is easier to sell for more value in a nice neighborhood.
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