Real Estate Agent · Kansas City · Member since 2019 · 9 posts · 5 votes
My general attitude toward the economy is that I think there is a chance that prices start to dip in 2021, which might provide some extra opportunity for investing. I'm taking this time to build up capital and prepare myself for what I think will be a good time to get started with my personal investment portfolio. What are your personal approaches? And how has it been finding deals with the lack of inventory?
Bonus: I live in the Kansas City area, so to all the KC investors, what are your thoughts specifically for the area?
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
6y
@Zach Hall interesting question....My wife and I recently came up with and started to implement a plan to aggressively pay down our debt, aka her student loans, so that come Q1 2021 we would be entirely debt free other than our current duplex we are house hacking. However, I have recently learned, through not being able to jump on a deal that was brought to me, that my financial preparation is certainly lacking. So my slight shift I'd say is away from acquisitions at the moment, and over to preparation. I'm planning to have more specific conversations with people in my existing network that have expressed interest in REI, and see if there are any financial partnerships to be made there. I'm also looking to investigate any loan packages that are out there to allow me to do what I am trying to do with a personal portfolio. For me personally I find that I work better when searching for deals if I have a specific type of financing in mind that would fit that opportunity. Just makes me feel a little more comfortable with it from the beginning. So for the next 6-8 months my plan has shifted to debt pay down, and education surrounding finance options.
Real Estate Agent · Kansas City · Member since 2019 · 9 posts · 5 votes
6y
Thanks for taking the time to respond! I think that certainly seems like a sound approach. Has the type of strategies for you shifted at all? For example (and i'm not sure exactly what you're current strategies are), has the market made you more hesitant about say, flipping, and more comfortable in a more buy and hold type of approach?
Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
6y
@Zach Hall I too am in Kansas City. I think taking a longer look at deals is acceptable but I also think that the market is so solid in KC due to the diversifcation of jobs, low (considering) unemployment rate, and our focus on recession resistant markets has kept KC above most markets for multifamily real estate investing. That, coupled with the investments in new construction in the urban core has propelled us. I was just talking with @Logan Freeman for our weekly multifamily minute about how KC is doing compared to other markets.