On the Hunt!

So it has been quite a journey over the last several weeks!  We went and looked at several houses with our realtor and found a great 3 bed/1 bath ranch house that was completely updated in North Kansas City with an asking price of $72k that we decided to put an offer on.  The projected rent was $900/month and this was one of the better returns we had found on single family houses in the kc area.  The house was on the market for 2 days, so we thought we stood a good chance of getting it. 

Needless to say, we put in an offer of $65k and was told there were 2 other offers on the table and to up our offer.  We upped it to full price since it still seemed like a good deal, and lost out on the deal to an all cash investor.  Lesson learned-CASH IS KING!

Our realtor said that this was pretty par for the course in our market that houses were having multiple offers on a regular basis.  So instead of fighting all the other first time home buyers, we decided to change course. 

We instead decided to focus on multi family homes since we would then mainly be going up against other investors in our market who are more than likely using the same metrics that we are, and hopefully not have any other bidding wars!  We narrowed down the list of over 400+ MFH's in KC to 15, and have been going through them over the last week & a half.  We are putting an offer in on one tomorrow, so wish us luck again! 

Other than house hunting, here are the business things we did this week:

We set up our Google Voice number today, and if you haven't checked out Google Voice, do it, because it is amazing!  Very easy and intuitive, and very handy especially since I don't want potential tenants to have my personal cell phone number, instead I have my business number through Google Voice! 

We also this week created our logo for our business at logomaker.com (You can check out our logo at our website: www.midlandparkproperties.com).  I highly recommend this website if you are looking to put together a logo for your business.  The cost is $49, and you can have a new logo in the matter of minutes.  It took us a total of 30 minutes and we were up and rolling. 

In addition, we also ordered business cards through VistaPrint.com, which was pretty affordable as well.  For a total of 500 business cards (250 for me, and 250 for my wife) with the highest quality stock possible, with printing on the back, it came out to $79 including shipping.