All Forum Posts by: Billy Smith

Buy a small rental close to where you live if possible ,I would not mention how much money you have keep that vague but let them you know you are serious .

Tip toe into this with caution spending only a portion of your money  do your home work  Google any company that you are looking at hiring to mange your rental see what you find .

Thanks for keeping KC market in sight it's booming still from what I see. I do enjoy talking on the topic I do have something to offer and always learning something new.

Property managers are viewed as low hanging fruit doesn’t pay as well as other real-estate deals. The point is getting a good manager to do a job right is difficult. They will take on as much work as possible more equals more money, once they get BIG, they have to hire someone who  may not get  paid what they are worth that equals not answering calls etc...

You need to use word of mouth would be your best bet to find a good property management company .

I am small I will answer all calls pronto they are in my phone by address and name, not unusual for me to go over that same day. I can and would still work at this level with more properties just how I roll. I avoid S.F.H that are in bad shape ,fact I  gut them then   rent like most owners  I would hope .

I can grab under 5% for a 30yr rental note no points ,20% down in A or B areas. The underwater is conservative they will not do 2nd mortgages on rentals.

I am in the camp of the current housing situation is locale with some national issues effecting a small percent in housing.

Here in KC metro S.F.H is still red hot in the A and B areas bidding war still the norm my nephew just bought a house over bid it then throw out inspections, the other contender was all cash but wanted inspections to be a factor.

So, he put down a container money and did inspections if he found a bomb was going to eat the money and walk that is where we are at right now still to get a decent house .

I am of the thought S.F.H are the money easier to unload easy to rent STILL.

We all saw the markets that went nuts 2008 Phoenix was a BIG one, but as I read North Phoenix is a new Silicon Valley with semi ships mega factories going up, one plant 12 billion dollars TSMC, Intel is an also building a semi chip plants what is different these are foundry plants. Right now, 97% of foundry chip plants are in  Taiwan.

My lease list all adults on the lease by name  they must all have back ground checks ,minors are listed as children 17 and under .You see it more often on a big house renting to young adults will move out then move in new renters with out adding names to lease that is a no no .

I agree with Joe College rewires your brain to learn. Engineering degrees are great at that it’s not the degree per say but the heavy math rewires your brain on learning, picking up new things.

I was talking about investing into S.F.H for 3 to 4 years before all came together before I bought my first SFH. I set ground rules on where to buy how to buy. Some folks like heavy debt buy as many as the bank will underwrite many folks do very well with this method. Some like pay as you go to a degree i.e. slow method.

Just finding a good bank can be hard after the 2008 housing collapse banks started to behave more in a normal fashion can you afford the house, location etc.

I was able to rent my last house in Overland Park in about 1 hour. I price a little under market value and I keep my SFH in good shape .The fact that

"Overland Park almost 70% of the houses are occupied by owners" means there is not enough SFH rentals to meet demand hot market !

I am thinking of buying a S.F.H turn key word of mouth how I found it fact there are 2 I am looking at .If it hits the MLS I don't even bother .

I avoid friends I may rent to family because they should be able to make the rent .The issue is of course is putting the hammer down on doing something  so bad they need to be evicted now you have family drama that may last a life time or at least many years .

I am renting  to my son who is  a E.E ,I have him write out 4 months of rent checks  makes it easier.  I go over help plant a garden his dog is tearing some stuff up I will make him pay for it when he leaves .