New member intro from Olathe, KS (Kansas City Metro)

New member intro from Olathe, KS (Kansas City Metro)

Rental Property Investor · Olathe, KS · Member since 2016 · 21 posts · 5 votes

Hello BP community!

My name is Rick and I live in Olathe, KS. I am looking to get into REI and I am glad I found BiggerPockets! Today I am employed full time leading a team of technical sales engineers for an enterprise software company.

I am currently trying to get as much REI education (books, webinars, podcasts and forums etc.) as I can. I've only been on the site just a little over a week but have sat through a couple of @Brandon Turner webinars and gone PRO.  

While I don't currently own any real estate investments I've have some real estate experience through my own personal home buying history.  Sometimes I kick myself for not keeping my first house.

Some of this is a repeat of my profile but want to save some of you the time of clicking on my profile.

I'm currently on personal house number three in Kansas (Shawnee, Olathe and Olathe) over the last 14 years. My first house was my bachelor pad purchased in 2002. I made the decision to buy a 4 bedroom 2 bathroom house that needed a little work knowing resale would be easier on a home with 4 bedrooms. I lived in the house just over two years and did all the rehab work myself (carpet, refinish hardwoods, complete bathroom gut, paint etc.). I sold this house myself FSBO and I made a decent little profit which I used as down payment on my next house. We lived there a little over 9 years and three kids later we decided we needed a house and yard that could accommodate a growing family.

Fast forward to today.. we live in a custom house we just finished building in May.  There is a little gap in the years because of the process we went through to get into our latest build.  We bought a little ranch on 2.5 acres in December of 2013 with the intention of completely gutting and adding onto it.  We worked with an architect to design this remodel addition and when it was time for the project to start we hit the "snag".  The foundation repair guys (talked to a few) and their engineers said "don't do what you are trying to do to a 42 year old foundation".  We made the decision to tear down and re-build at that point.  A lot of time, energy, blood, sweat and tears have been shed but we survived.  Our current house was built with a construction to permanent loan as a cost plus with the builder.  I learned a tremendous about about the building process going this route.  I'd be happy to give all the gory details in another forum or over a cup of coffee or a few beers.

Eventually I'd like to have enough passive income to quit my current job and get into full time investing.  I love real estate and searching for deals.  I get excited when performing the analyze phase and I'm sure most of you do (assuming that is why you are here)!  I just need to pull the trigger.

I am considering buy and hold, flipping and BRRR on either SFR or Multi-Family. I know the Kansas City area fairly well as I've lived here over 16 years. I am coming to understand a lot of remote investors like the Kansas City area too!

I'd like to build a local team but would also love to connect with remote investors as well.  

Happy Investing!

Rick

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  • Investor · Lees Summit, MO · Member since 2015 · 40 posts · 10 votes
    10y

    Welcome to BP @Rick Hamrick! I'm just across the state line in Lee's Summit. You're starting off on the right path by conducting research. You'll find that this site has tremendous knowledge and people who truly want to be there in helping you succeed. We have similar interests, I'm interested in flipping as a means to build initial capital, then transition into buy and hold for the long term passive income wealth building. Make sure to check out our local REI groups, MAREI meets the second Tuesday of every month in your neck of the woods. My current work schedule conflicts with that meeting, so I'm looking at attending another one called Winvestors held every Wednesday morning.

  • Real Estate Agent · Kansas City · Member since 2009 · 23 posts · 1 vote
    10y
    Hi Rick, Welcome to BP. You'll find that there is a tin of useful information on the site and that people are eager to help. I got my start in real estate a few years ago after I flipped my first house. If you ever need anything let me know. I'm in Olathe almost every day! Brian
  • Lenexa, KS · Member since 2015 · 206 posts · 53 votes
    10y

    Hey Rick, welcome to BP!

    I work and go to church in Olathe and live in Lenexa. Congratulations on committing to learning as much as you can about real estate investing. If you have any questions or would like a sounding board for deals feel free to reach out anytime. 

    I'm also a Realtor, so if you'd like to get some search's setup in your target neighborhoods, I can help with that as well :) 

    Feel free to reach out anytime, I hope this new endeavor is a blessing for you and your family! 

  • Philadelphia, PA · Member since 2016 · 101 posts · 35 votes
    10y
    Hey Rick welcome to bigger pockets! The wealth of information here is astounding and it only continues to grow, glad to have a fellow investor here looking to gain knowledge. Personally, I am an avid podcast listener, makes my hour commute more doable and I'm making my time work for me! Good luck!
  • Rental Property Investor · Olathe, KS · Member since 2016 · 21 posts · 5 votes
    10y

    Thanks for the welcome @Jayson Edwards I'm sure we will cross paths in the metro area. I definitely want to find a good REI group or two.

    @Brian Dinkel Is there any particular REI group you participate in?

    @Brandon Holley  My corporate office is in Lenexa.  In fact my employeers in the area have almost always been in Lenexa.  Maybe we could grab coffee or lunch when I make it into the office sometime soon.

    Thanks for the welcome @Katie Heer!  

  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    10y

    @Rick Hamrick, welcome. Heck of a story for your third property, good for you. Hope to see more of your post in the future. 

  • Real Estate Agent · Kansas City · Member since 2009 · 23 posts · 1 vote
    10y
    Rick Hamrick I was going to the MAREI meetings for awhile but as my son got older it seems like all of his activities take place Tuesday evening. Their meetings are full of great info. I'd recommend checking them out.
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