Investor · Topeka, KS · Member since 2016 · 7 posts · 2 votes
I'm new to real estate and have watched videos and listened to webinars and phones calls from rich dad poor dad and Renatus. Only to find you must pay money and a lot of it after they give you there sales pitch. Then to keep moving fwd with the company you will have to keep spending money. Well that's not for me. I would like to get involved in wholesaling and then to generate cash flow and then start in on fix and flip, and then fix and hold, maybe lease options. I'm from Lyndon, KS. This is a small town, south of Topeka about 30 min right on hwy 75, with not a whole lot of choices for networking events. The closest events I have found are in Kansas City, MO about 2 hours away. Are there any other Topeka, Lawrence or surrounding areas that would be interested in attending a networking event closer to home? I would be more than happy to arrange the meeting space and time and to coordinate the whole event. But it is a lot of work to go through for me to show up at an event 2 hours away.
One of my members drives in from Topeka for our meetings in Overland Park and she says she has a small group that meets in Topeka. I would check out meetup.com to see if there is anything there as well as the events page her on BP - I have heard rumors of a Topeka group and a Lawrence Group.
And you may find that driving to OP from Lyndon is worth the drive, especially for an all day Saturday training.
Just note the traveling guru circus that is in the KC metro this week and advertising all over the TV has a free 90 minute pitch with sales guys (not the guru in the ads) to sell you into a 3 day training that is quite affordable and then into a much more expensive mentoring package. I know a lot of their very satisfied students here in KC, but personally his mentoring is a bit too expensive for my taste.
I just started a new group in St. Joseph Missouri called Tycoon Talk. Not any closer to you than KC, but if you have any questions or would like to check us out, we'd be glad to help you.
Thanks Jonathan, is there a website or phone number to get in contact with Tycoon Talk?
Jason thank you I will look into that for sure. Does or will the Shawnee County Landlords Association help new investors get started? I have read a few books, watched some webinars, and read articles but need some guidance in getting started and making my first deal. Wouldn't mind being a silent partner in a few deals in order to learn.
One of my members drives in from Topeka for our meetings in Overland Park and she says she has a small group that meets in Topeka. I would check out meetup.com to see if there is anything there as well as the events page her on BP - I have heard rumors of a Topeka group and a Lawrence Group.
And you may find that driving to OP from Lyndon is worth the drive, especially for an all day Saturday training.
Just note the traveling guru circus that is in the KC metro this week and advertising all over the TV has a free 90 minute pitch with sales guys (not the guru in the ads) to sell you into a 3 day training that is quite affordable and then into a much more expensive mentoring package. I know a lot of their very satisfied students here in KC, but personally his mentoring is a bit too expensive for my taste.
Not sure Shawnee County Landlord Association will "help" a new investor get started, but rather an opportunity for you to network with buy and hold investors.
If you want to message me, I maybe able to get you in contact with a wholesaler in the east coast and I can help you get started as well.
Jason looks like you are from Holton KS? If you have any advice, pointers, or insight you could provide me it would be highly appreciated maybe I could meet you over a cup of coffee or meet with you at an investor meeting sometime.
Kim Tucker I will look into meetup.com thank you for that I was not aware of meetup.com
I'm fairly new to Topeka, myself (since August). There is some discussion I've heard/seen about getting a REIA group meeting in Topeka itself, but as far as I can tell there's nothing going yet. I have driven in to KC a few times, for Northland Real Estate Investors and for MAREI (Mid-America) and have enjoyed both groups tremendously. Both of those are on Meetup. One is a whole lot more expensive than the other, but they're two fairly different groups. With everything going on in KC, though, it's struck me as a little hard to get those folks interested in lil' ole Topeka property.
That said, if you're interested in meeting, I don't mind meeting even for a morning/early afternoon coffee sometime once a month or so. Gotta start somewhere, right?
I will look into finding a place to host REI meetings. Is there anyone in the Topeka area who would want to partner up on an investment deal? I don't have a deal in the pipeline, I am new to the real estate business and have not yet done my first deal. I am motivated and dedicated on succeeding in real estate but would like to see if anyone would want to partner/mentor with me on my first couple deals. Also, for those investor who are active in the Topeka area what are you looking to get from cash-on-cash return or Return on Investment
Your goal return rate really depends on your level of risk. I would recommend at least an 8% - 12% return to best the stock market. The better question in my opinion to ask is what is your cash flow goal. For me, I would take $200 cash flow with a 8% return instead of a $100 cash flow with a 16% return.
Good point and your target range is right where I'm at 6% - 12%. Have you had any experience with money lenders giving 100% LTV and if so any recommendations on who
I see a lot of you talking about interested in REI meetings and waiting for someone to
start one. I willing to take the first step and start one. Please let me know how many
of you will be willing to meet at least once a month on 3rd or 4th Saturday morning at
Classic Beans near Fairlawn Plaza. I am new on this website, Civil Engineer have been working for a real estate development and management company for last 17 years.
I have SFR as rentals and have done fix and flips, wholesaling and interior decoration.
I'm in Leawood, KS but bought my first investment property in Manhattan, KS a couple months ago. Needless to say, I get to Manhattan at least once a month. Blast right through downtown Topeka on I-70 each way and would love an excuse to make a pitstop, grab a cup of coffee and talk shop every now and then when I'm making the trip.
This post still active? I may be moving there due to an opportunity in the next 2-4 mos.
1st thing on my agenda besides the other myriad of things i need to do is find a place to live and a lender - preferably a dump of a house I can completely have remodeled and rebuilt to my specs. Dont care if it's a fire, basement walls caving in etc. From my brief looking - it appears the Topeka housing is more pricey than what I can get in Wichita.
Anyone have a tip on a lender in the Topeka area that will lend based on the deal and not cash in the deal? I may be self employed as I make this transition so will need a lender like that - my cash flow from the house I'd be leaving would make most of my mortgage payment if I stay in my budget.
I have not found any lenders yet here in Topeka that will not require some of your cash going in. Community National Bank and Landmark National Bank are considered investor friendly but I think they still want 20% from you going in. Can you fund that with equity from your existing property? After you complete the repair you can refi and pay off that equity line.
I wholesale here and have my share of fixer uppers so let me know when you are close and I can possibly hook you up. ( I am not plugging for more sales here, just trying to help a fellow investor out for a house to live in).
I took that Rich Dad courses and made enough out of my first wholesale deal after 1 to 2 months to pay off 1/2 of what I spent on the courses. I am a proponent of paying for the right education. Although you can find some info out there on "how to" for free, it can be very convoluted and leave you with a lot of holes in the process. Holes in your knowledge could cost you more with lost opportunity cost. The course was not perfect and I had to adapt a few things to our area but I rarely run across free education that allows you to hit the ground running with all the tools you need.
Hello Shane. Let me know when you're available to have a chat. Yes numbers here are different than Wichita for sure so let me know if anything I can do on this end.
Will shoot you a PM - I'm about 1st base in this deal and creeping past that point next week. All my feedback to date is good so it's just putting puzzle pieces together at this point unless something kills the deal.
I know my best bet at securing lending on a primary residence is while I'm still employed