Hello from Adrian, MO!! (45 minutes from southern Kansas City)

Hello from Adrian, MO!! (45 minutes from southern Kansas City)

Rental Property Investor · Kansas City, MO · Member since 2021 · 17 posts · 18 votes

Hello fellow BP members!

Four years ago, my wife and I moved from Springfield, MO to a small town called Adrian, MO (45 minutes from south KC area). We purchased our first home, a HUD house, which has been a full on fixer upper, for $30K!

I was hesitant at first because of the extensive work needed to bring it to a point we could move in, but after 4 months and a lot of hard work, we were able to move in!! From that point on, the hard work continued although at a slower pace. I work full time in Kansas City for a remodeling company. Work continued after work hours and on weekends.

We are closing in on being ready to sell the place likely in a year. I joined BP after listening to the BP Money podcast and was enlightened to the real estate investing, frugality and FI opportunities we never realized were right within our reach!

I have all the skills of someone who could greatly benefit from flipping houses using sweat equity and hard work. I estimate we will be able to sell our place for $90-110K after putting roughly $25-30K into fixing it up. Unfortunately, I didn't track these expenses as I should have since we had no real plan going into it.

Once we sell this home, with our profits we would like to buy a nicer home on a mortgage, with less fixing up. Then, we will buy our first BRRRR project. I feel this will be our best opportunity for success and can't wait for what is ahead!

Sorry for the long-winded intro! Any insight into the KC suburbs market would be very helpful. Planning on sticking to the area between KC and Adrian, MO and/or branching out to my hometown of Springfield, MO area.

Would love to area any feedback!!

Good luck to all!

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Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
5y
Originally posted by @Nic Juncos:

@Steven May Thanks for the reply! I also went to MSU in early 2000s, majoring in Computer Science. Although, I never graduated after becoming discouraged of the idea of sitting behind a desk all day. But those days are well behind me! The remodeling business was my calling as I love building and working with my hands. I truly love my day job and simply want to expand out with real estate investing and rental properties.

Has there been a good market for the KC suburbs, especially further south where I live? Would it be smarter to focus closer to KC? I know I can find a lot of fixer uppers in the area I live and nearby small towns. My only concern being whether or not they can produce a decent rental income. I realize that depends on numerous factors, but any thoughts as to strategy would be greatly appreciated!

Thanks again for connecting!!

 Belton/Raymore/Grandview are great places if you find the right area. harrisonville may be a bit more affordable. Go for a fourplex. Hope that helps!

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  • Steven MayBusiness Member
    Real Estate Agent · Kansas City, MO · Member since 2018 · 262 posts · 250 votes
    5y

    Congrats on the live in fixer upper Nic! That can be a great strategy and sounds like you are on the right path to purchase a couple more properties. I went to Missouri State University in Springfield, MO - absolutely loved it and miss it! I can help clarify some things about the suburban Kansas City market if you want to reach out! 

  • Rental Property Investor · Kansas City, MO · Member since 2021 · 17 posts · 18 votes
    5y

    @Steven May Thanks for the reply! I also went to MSU in early 2000s, majoring in Computer Science. Although, I never graduated after becoming discouraged of the idea of sitting behind a desk all day. But those days are well behind me! The remodeling business was my calling as I love building and working with my hands. I truly love my day job and simply want to expand out with real estate investing and rental properties.

    Has there been a good market for the KC suburbs, especially further south where I live? Would it be smarter to focus closer to KC? I know I can find a lot of fixer uppers in the area I live and nearby small towns. My only concern being whether or not they can produce a decent rental income. I realize that depends on numerous factors, but any thoughts as to strategy would be greatly appreciated!

    Thanks again for connecting!!

  • Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
    5y
    Originally posted by @Nic Juncos:

    @Steven May Thanks for the reply! I also went to MSU in early 2000s, majoring in Computer Science. Although, I never graduated after becoming discouraged of the idea of sitting behind a desk all day. But those days are well behind me! The remodeling business was my calling as I love building and working with my hands. I truly love my day job and simply want to expand out with real estate investing and rental properties.

    Has there been a good market for the KC suburbs, especially further south where I live? Would it be smarter to focus closer to KC? I know I can find a lot of fixer uppers in the area I live and nearby small towns. My only concern being whether or not they can produce a decent rental income. I realize that depends on numerous factors, but any thoughts as to strategy would be greatly appreciated!

    Thanks again for connecting!!

     Belton/Raymore/Grandview are great places if you find the right area. harrisonville may be a bit more affordable. Go for a fourplex. Hope that helps!

  • Steven MayBusiness Member
    Real Estate Agent · Kansas City, MO · Member since 2018 · 262 posts · 250 votes
    5y
    Originally posted by @Nic Juncos:

    @Steven May Thanks for the reply! I also went to MSU in early 2000s, majoring in Computer Science. Although, I never graduated after becoming discouraged of the idea of sitting behind a desk all day. But those days are well behind me! The remodeling business was my calling as I love building and working with my hands. I truly love my day job and simply want to expand out with real estate investing and rental properties.

    Has there been a good market for the KC suburbs, especially further south where I live? Would it be smarter to focus closer to KC? I know I can find a lot of fixer uppers in the area I live and nearby small towns. My only concern being whether or not they can produce a decent rental income. I realize that depends on numerous factors, but any thoughts as to strategy would be greatly appreciated!

    Thanks again for connecting!!

    That's awesome! I graduated in May 2019 with my Bachelors of Science in Nursing. So i began work as a full time Registered Nurse in a ICU here in Kansas City. I just recently went Part-time, weird how it works as a RN but I actually get paid more to work less. Now I am a full time agent and investor. 

    Having construction and remodeling will be a great skill moving forwar with your real estate portfolio. Gives you the ability to earn sweat equity through DIY rehab skills. I wish I was more skilled with my hands as far as craftsmanship! 

    I am currently working on a Grandview package deal - a bunch of small multifamily for buy and hold investment properties. Many of my investors and myself love the Grandview market as far as South KC! I actually am in the process of flipping a property in Raymore with a partner! Raymore is another great South KC market! 

  • Rental Property Investor · Kansas City, MO · Member since 2021 · 17 posts · 18 votes
    5y

    @Alex Olson yes I would love to explore more in Harrisonville area. If affordable, I will definitely go for a multifamily. Thanks for the response!

  • Rental Property Investor · Kansas City, MO · Member since 2021 · 17 posts · 18 votes
    5y

    @Steven May Very cool! Never would have thought you could make more part time as a nurse compared to full time. That's great though for your real estate investing! I drive through Raymore/Belton everyday so if you're ever needed a hand or advice on the rehab/maintenance side of things please feel free to reach out! I'm happy to help or meet up for a coffee sometime just to connect.

  • Investor · Kansas City, MO · Member since 2018 · 117 posts · 46 votes
    5y

    @Nic Juncos congrats on your progress so far! I'm big into FI and think that real estate is the ultimate way to supercharge your path. I'm a KC investor and on my way to FI! Happy to help anyway I can :)

  • Rental Property Investor · Kansas City, MO · Member since 2021 · 17 posts · 18 votes
    5y

    @Ramon Vazquez Sounds likes you are definitely well on your way to success! I never had the right mindset to even think about FI until recently and I'm glad that has completely changed for me. Glad you stopped by to introduce yourself. I wish you continued success in 2021 and beyond!

  • Wholesaler · Independence, MO · Member since 2015 · 53 posts · 24 votes
    5y

    I have been buying investments in KCMO for 6 years. I live and and would be happy to help you if I can. Feel free to message me!

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