Closed on my first 2 properties in Kansas city market

10 Replies

My name is Ali Zantout and I live in Kansas city, MO. I wanted to talk about my long journey to buying my first primary home that was a 5 month process and my investment property that took 2 months to close.

   After getting interested in real estates and realizing I cant work my way to happiness and freedom by just staying at my full time job ( Architecture Designer). Went to community College then UCM ( University of Central Missouri) for my engineering technology and design degree and thought I would be set for life just working a great job in a great environment. I managed to achieve that and was blessed to be at my work now for 2 years, but in December of 2017 seeing myself at 24 years old, ( I turned 25 n May) I realized I have potential to do bigger things than any of my family members and to branch out. 

 It started as a dare to myself seeing my brother owning his own home, and since I lived at home and pay rent to my parents and help them around the house due to their old age. My brother never wanted to rent out the rooms or rent it completely, as I got in deeper and deeper into my search for passive income. After I got hit with taxes due to me getting a raise I realized I needed a tax shelter business. Searched for days until I found a guy named Grant Cardone and watched all his stuff, read Rich Dad poor dad, and running into BiggerPockets, my life was changed from there.

  I am the type of person that does get bored whenever I accomplish things and reach my goals I always ask myself " okay whats next now", after competing in bodybuilding/Physique competitions I needed to take my drive and dedication to something more long term that is going to give me more time and freedom than the ( 8-5) full time schedule. I started to branch out and landed a contract on a condo deal 25 min south of my location, but that deal fell through.

   After that deal didn't go through, it was no time to waste for me I got up and went on the hunt again. I found a 3 bed 2 bath near a college ( UMKC ) that is near the plaza area, which in Kansas city is a very popular and high class area to visit/shop and live around. I had just enough capital to get 2 properties so after getting this primary home which I plan to house hack and rent out the 3 rooms and live in the basement. I managed to snag another property again around UMKC (The University of Missouri-Kansas City) and Rckhurst university another high class college in the same radius. Both properties are close to downtown Kansas city and in a neighborhood which is older, but is getting attention and getting attention and being restored. The second one is a 4 bed 2 bath and I plan on renting it to college kids a room.

Using the concept of apartment complexes and the way they are done, I will be renting out the rooms to either college kids or young professionals around the area. Each will have their own personal rooms and use the downstairs and kitchen as the common area for the house. Using the concept of multi family and apartment complexes model, I am able to turn 2 doors into 7 doors and increase my rent and still give the tenants ease of mind as they would only have their own personal room to care for while still respecting the rules of the common shared area. 

   So within 7 months of deciding to get into real estate and watching ( current number of BP podcast at 201), and reading automatic millionaire, Richest man in Babylon and some Gary Keller books, and most of the rich dad poor dad series, and watching a ton of YouTube videos and taking experienced professionals out to eat and gain their insight and knowledge, I can say I reached my goal of purchasing 2 properties. Now my goal is get these 2 stable and rented ( currently cleaning the first one and got one renter in one of the rooms, and planned on advertising both by the end of the first weekend of July 2018) 

Congratulations! I also live in Kansas City. If you ever have any questions about commercial real estate/multifamily or ever need a real estate agent than let me know.

I used conventional mortgage  to fund these at the bank I have accounts with.

@Ali Zantout This is an amazing start to your journey. I only wished I had the same mentality when I was your age. Congratulations on getting your first 2 properties. I am looking to invest in the greater Kansas City area as will, but on KC's side. Good luck to you!

@Jolene Desmond That would be awesome there is a Kansas city multifamily investment club meet up I go to, you should look it up! but thats what my future plans is commercial apartment complexes.

@Yer Xiong Well hopefully sometimes we can meet up! thank you its all overwhelming but I gotta keep pushing

@Dan Krupa Thanks dan!! maybe sometimes we could work together I am looking at flipping houses with my rentals so maybe I can use you on some stuff if you do some contracting work

Account Closed I mainly was looking around colleges and thats close to downtown KC thats not bad and not too fancy and these 2 stood out to me and had what I was looking at. And I found them both on zillow actually. 

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