Springfield, MO · Member since 2016 · 3 posts · 3 votes
Hello! This is my first post here at BP. My family and I are moving (work transfer) to Kansas City later this year, and I am very interested in starting out in REI. I've been studying and preparing for quite a while, and feel that this move is going to help position us to get started. I'm open and hopeful to get into a duplex/triplex to start off (house hack). However, we don't know the area extremely well (ahem...not at all), and are hoping to find a Realtor who could help us hone in on some areas and find some properties that could work for us...both from a numbers standpoint and from a comfort-level-of-living-there standpoint. We are coming out to visit/get to know the area in a month and would like to meet up with said Realtor then. Thanks in advance for any help and direction!
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). You can Google to locate them and go to meetup.com Find the club site call club officials and vendors to start networking pose your question ask for referrals.
Consider checking out HUD homes for small multi's owner occupied gets first crack.
Go to IREM.org search for ARM certified property managers. Call 5 ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.
You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
He is a realtor in KC. I originally met him living in South Korea. Where we were apart of the Seoul REI meetup.
Have you read the Ultimate Beginner's Guide? It is a great read (plus free).
Don't forget to make keywords up so you know when someone is talking about your area.
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Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). You can Google to locate them and go to meetup.com Find the club site call club officials and vendors to start networking pose your question ask for referrals.
Consider checking out HUD homes for small multi's owner occupied gets first crack.
Go to IREM.org search for ARM certified property managers. Call 5 ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.
You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
I'm a local KG Investor and a Realtor. Feel free to reach out if I can help in anyway. You have a ton of options to consider so laying out your specific goals/budgets is the place to start. I'm so excited for you and I wish I would have house hacked earlier on in life!
Hi @Kevin Davies and welcome to BP. BP has great ways to network with other real estate investors including the forums. BP has a lot of great information on real estate. You came to the right place. I wish you all the best. You are not alone in your real estate ambition.
@Kevin Davieswelcome to BP. Definitely get started with networking. There are several good ones here in Kansas City. When choosing your Realtor, make sure you pick somebody who has experience working with investors! Traditional real estate agents don't have a clue about what investors want/need. Make sure you interview at least 2 or 3 agents.
@John Van Uytven We are in contact with Josh per your recommendation. Thank you! Yes, I have read the Ultimate Beginner's Guide. Thanks for all the other tips as well!
@Paul Timmins thanks for all the advice! I will check out the resources you recommended.
@Chris Dawson thanks for the tips on selecting an agent!