Wichita, KS couple interested in getting started with Real Estate

Wichita, KS couple interested in getting started with Real Estate

Wichita, KS · Member since 2016 · 1 post · 0 votes

Me and my wife moved to Wichita in 2012 to take care of my parents. When my father passed away he left us a house that is free and clear and some investments in the market. I have mulled over for so long on wether or not to go forward with real estate that my cousin, who is an entrepenuer in California, was forced to give me the "no regrets" speech. Suffice to say, here I am ready to start, ready to sweat, and I think most importantly ready to learn. I have a few connection in our area, but I think ,almost as important as a business contact, we are looking for people to share experiences with. I've already noticed a few groups that meet once or twice a month, but would like to know more if you're in the Wichita area. I would also like to know that if you take a HELOC out on the property, what form or vehicle of investments would allow me to place multiple offers on different projects? For example ( What's the best way to finance a rental property and buy a flip with the equity built up in our home so that we are able to put 25%? down on more than one property. I know you want to start out slow, but as I draw up a business plan, I want to be able to account for growth in strategy and formula.

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  • Investor · San Jose, CA · Member since 2016 · 38 posts · 11 votes
    10y

    Hello Kenneith,

    I am looking to start too. I am looking to be a wholesale. Hope we can be connect.

    Welcome to BP!

    Erick

  • Investor · Wichita, KS · Member since 2015 · 769 posts · 279 votes
    10y

    @Kenneth Arnason

    Welcome. I've been doing some additional homework on HELOC's offered by the local banks. Fidelity Bank seemed to offer the most flexible. Might start there. You'll also likely want a relationship with another smaller local bank who can help fund the deals quickly.

    Carson Bank, Vintage Bank, Rose Hill Bank, Union State Bank, Stock Exchange Bank (Ark City) are a few of the smaller local ones I know would be able to act quickly and wont screw you on closing costs.

    I've personally used Carson and Union State Bank (formerly Relianz)  - Have spoken to Rose Hill and Vintage about their programs however have not ruled out using them in the future.

    I'm sure there's a few other smaller banks I've left off, but going off the cuff those are the ones I remember.

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