California investor looking to set up team in Kansas City, MO

11 Replies

New investor in California looking to build a "boots on the ground" team in Kansas City to get started on BRRRR deals. Please be experienced and knowledgeable of the market. No games. Thanks!

Happy to help you get connected within the city.  What are you looking for?  I work with investors in the insurance/risk management industry and know a number of other industry professionals to help build out your team.

Also, are you looking more commercial or personal types of properties?

Looking forward to connecting, good luck!

@Matt Moylan Looking at residential properties at this point. I'll need a realtor, contractor, property manager, etc. as I do not intend to visit these properties myself, but I'll need people I can trust. If all goes well, I'm looking to make multiple deals in the area. 

Sounds like a good plan by building a team, I work with investors and mainly in the residential space here in Kc. Good luck and wish you the best let me know if there is any way I can help. I love helping and connecting!! 

Just don't, you're setting yourself up for failure and to be taken for a ride... Sharks will eat you alive.

Its a 4hr flight, go spend a weekend at least and get a feel for the areas you're interested in....and then hop on Craigslist and check out the rents.

I have a decent team there and built it up by refferals and doing what I say when I say... But it took some learning and potentially bad deals to get here... The good people are busy and don't waste time or take on new clients that are unknown...they're just too busy with current workload. 

netowrking and refferals will be the best move you can make, but start slow and test these people to see if they align with your personality but also your risk appetite. Too many out there will toss out amazing deals that look fantastic on paper but if you know the market and the people that would be your tenant you'll see that their either a) not sustainable or b) seriously under representing the costs and overshooting the rental projections.

Matt K offers good advice but it doesn't only apply to remote investors.  You have to do the same due diligence if the market is in your backyard.  You can experience all that he lists as a local.  The challenges we all face provide learning opportunities so you don't repeat them.  It truly is about networking and research.  

Your research access or method might be different than mine but I still have to do it.  So what if you have to invest in a few trips to meet people and tour areas you are looking at if it ultimately provides you the endgame.  Not everyone is a shark but as Matt says go slow and find the right people.  That will help you minimize the challenges but you cannot eliminate them entirely.  

Locals you gain trust in (outside the local team you build) can fill in the gaps as well and are generally happy to do it.  Remote is just a different variable you have to account for just like how "hands on" do I want to be when my property is 15 minutes away. 

Hey, @Steve Hicks .  There are quite a few professionals on the forum here who are on the ground in KC who might just be able to help you reach your goals.  Let us know how we can assist you.

- Luther

I highly agree that a trip to the market is a great idea. We are providers of hybrid turnkey property options. But having a very clear understand of the market and the market that your potential provider actually serves, rather than what they state that they serve will be the difference between success and challenge. Identifying the current state of the market and your cap rate vs IRR goals will be another critical factor.

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