Newbie from Kansas City Metro; I'm thinking House Hack

Newbie from Kansas City Metro; I'm thinking House Hack

New to Real Estate · Member since 2019 · 38 posts · 11 votes

Hi Everyone, 

My name is Gabe Jordan. I am a Kansas City native and new to real estate investing. I'm 29, never bought a house before, going to get married in 2020 and want to plan this out so I can "House Hack" our first property then grow it from there. I'm thinking a multi-family home that we can take advantage of our first time home buyer loan, camp out for a year or two, refinance and go from there. 

I currently work full time for a marketing agency, and specialize in search engine optimization, paid advertising, & analytics. I guess you could say I am very familiar with "digital real estate", but am not sure how much crossover there is with "physical real estate".  Agency life is extremely busy, hence why the passivity of physical real estate is so appealing. I am fully intending on outsourcing as much as possible, and am even considering turn-key solutions to get my feet wet (although I really do not know if they are a good deal or exactly how they work).

Right now, I am focusing on (and please tell me if I am missing something)

1) How to locate a "good deal"

2) How to evaluate if the deal is actually good or not

3) Find like minded people in my city that I can learn from or bounce ideas off of (mentor?)

4) Saving as much cash as possible for down payment/ repairs

5) Figure out the details of how the loan process works

6) Determining my "Freedom Number" and seeing how many properties it would take to get me there

Any advice from the vetrans in the group would be appreciated. If you a KC native give me a shout! 

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Specialist · Newport Beach, CA · Member since 2016 · 25 posts · 18 votes
7y

Not a veteran, but want to say that us newbies are rooting for you.  Hopefully you spread the knowledge you gain!

See this reply in the discussion

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  • Specialist · Newport Beach, CA · Member since 2016 · 25 posts · 18 votes
    7y

    Not a veteran, but want to say that us newbies are rooting for you.  Hopefully you spread the knowledge you gain!

  • New to Real Estate · Member since 2019 · 38 posts · 11 votes
    7y
    Originally posted by @David Nemrow:

    Not a veteran, but want to say that us newbies are rooting for you.  Hopefully you spread the knowledge you gain!

     Thanks David! I will definitely share with the rest of the class. I hope others do the same!

  • Investor · Lees Summit, MO · Member since 2018 · 74 posts · 33 votes
    7y

    Hi, Gabriel.  I am a KCMO realtor and work mostly with investors. Your idea is sound and there is an article in here about moving into your investment properties, as you buy them and build equity for the next one. I would love to help you with a plan.  Feel free to message me with any questions or for a KC meet up. 

  • New to Real Estate · Member since 2019 · 38 posts · 11 votes
    7y
    Originally posted by @Olga M.:

    Hi, Gabriel.  I am a KCMO realtor and work mostly with investors. Your idea is sound and there is an article in here about moving into your investment properties, as you buy them and build equity for the next one. I would love to help you with a plan.  Feel free to message me with any questions or for a KC meet up. 

     Thanks Olga. Much Appreciated, I will definitely be in touch.

  • Real Estate Broker · Kansas City, MO · Member since 2017 · 537 posts · 292 votes
    7y

    Hey, @Gabriel Jordan, congrats on taking the first step towards your financial freedom.  House hacking is a beautiful way to get rolling.  We're here to help...  Reach out to us anytime if want some input or assistance with anything.

  • Flipper/Rehabber · Kansas City, MO · Member since 2011 · 2k+ posts · 712 votes
    7y

    Great Plan  . . . 

    Let me know if I can answer any questions.

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