All Forum Posts by: Dan P.

@Brian Giambastiani

Welcome! I'm in a similar situation as you! I have found BP to be an incredible resource and source for good RE relationships.

If you decide to go the flipping route I highly suggest checking out "The Book on Flippping Houses" by J. Scott (member) and BP. It's offers valuable insight to real estate flipping and much more!

Good luck,

Dan

Only a couple properties at this time. One for sure beginning October.

The properties are located in Belvidere Heights.

Any suggestions would be appreciated!

@Andy Robison

Welcome! I'm from Lenexa, KS. I'm on the same boat as you....only mine is 10 years farther along. I'm 33 and been in the IT sector for 10 years now. It pays great and is stable, but I'm a miserable cube dweller.

I've been burning the midnight oil & building an investing/flipping business over the past 6 months. I'm currently looking for my 1st official property (already flipped a couple live-in properties).

BPs is a great place for everything RE investing. Check out the local group in KC too.

Good luck!

Dan

I'm hoping to get recommendations for a property mgmt firm that services the Grandview, MO area of Kansas City. This is for a family member that currently manages their own properties from out of state and is considering to use a local property management firm for a house that has a lease expiring soon. There is the opportunity for more than 1 property for management in the near future.

Any recommendations would be appreciated!

Thanks!

Trina,

I just recently became licensed myself to supplement my RE investment ventures. I was able to weigh all the pros/cons of getting licensed thanks to the suggestions and articles of BP members, including those on this post.

If you do decide to go after licensing, I would highly suggest hanging your license with a broker that meets YOUR business needs. lf you hang your license with a big name real estate business then you may find yourself surrounded by education and encouragement to become a traditional RE agent, rather than an investor. Plus, you may find their fee's to be much higher to support their "marketing strategies."

For me, starting out, I looked around for a broker that blended well with MY business strategy - acquire property for flips. The fee's are much less per transaction than your traditional real estate business. I pay $650 per transaction, but I get 1on1 support from my broker and his staff, which has been very helpful through my first deals and starting out. Eventually, after I become more familiar with all aspect of the business, I may move to less costly per transaction brokerage if it aligns well with my business.

Hope that helps! Good luck!

DP

Hi Eddie,

Glad to hear you found BP too! I'm not too far from you in KC. I currently live in Lenexa, KS on the west side of KC.

Being an investor in the KC area you may want to check out Kansas City Investment Group. It's a growing group that comes together monthly to discuss all things REI. This month they brought in a successful REI money lender and last month we discussed cash-on-cash investments.

Let me know if I can help.

Good luck!

Dan

Elizabeth,

Hello, I'm fairly new here myself. Welcome!

I recently acquired my real estate license to assist me with investing ventures. I have also considered using the licensing to assist buyers & sellers as a traditional agent. I also have a full-time profession, which I hope to retire from in the future.

While pondering the idea of becoming a full-time agent, I did question whether I could be successful at it part-time. I did a lot of research to determine whether someone could make it part-time as an agent. What I found is that you can do transactions part-time, but to generate a good income one would need to be fully invested as an agent, regardless if you hold another job!

If you do decide the agent route, my suggestion is to consider it full time regardless of whether you have another job. You may consider a flexible 2nd job to ensure you can attend to your real estate profession when needed.

Bottom line for me, if I were to be a traditional agent, I would have to do it in conjunction with my current profession. I would consider it my 2nd, full-time profession, rather than a part-time gig. Once established, I would drop my 1st full-time profession.

I hope this helps when talking to brokers....

Best of luck,
dp

Thanks for the welcome!

I've been planning on investing a chunk of that in marketing/direct mail, but haven't considered 20k worth. I'm curious how much response that would create! I would certainly have to spread it a little over time to be able to answer each call.....

Yes, KU fan all the way! I makes for an interesting relationship with my wife, the MUooo fan, but I still love her.

My hope is to make this happen through rehabbing and it may be a little ambitious, but that's intentional ;)

I, too, have been lurking on BP for some time. I figured I should formally introduce myself - I'm Dan Pemberton, from the southern side of KC.

I've had some REO purchase experience as a non-investor in the past. I have recently become very interested in building a business in real estate investing. Over the past year I have absorbed myself in everything I could find relating to RE investing, including J. Scott's new books, M. Boardmans book, many member blogs and of course, BP's! I also have a stack of book labeled "to read." I've also recently become licensed as an agent in KS to assist with my RE investing venture.

I'm currently in the process of taking my first real steps to acquiring my first rehab as an investor! I figured this will generate a lot of questions that I hope BP's will be able to help with, which prompted me to say HI and introduce myself!

Now that I've introduced myself I have a QUESTION for anyone willing to answer:

What methods/actions would you suggest to turn $20,000 into $60,000 as a investor in the midwest within 12 months as a NEW investor? ....outside the casino!

I know this is a vague, open-ended question, but I'm hoping it will spawn some legit & creative ideas from those who've encountered similar situations. I'm not looking for a business plan, rather, advice from past experiences....

I look forward to fun-filled times as a member of BP!

Dan

Hello all! This is my first post (sorry it’s a long one), but this is certainly not my first time visiting BP or the many great blogs of members of BP! I’ve been doing much research into the position of being a licensed agent/investor for a long-term career strategy. I want start by saying THANKS to BP, Josh, all the contributing members for sharing their knowledge through posts, blogs and books like the one I’m currently reading, “The Book on Flipping Houses” by J. Scott.

A little about me: For years I have seriously considered becoming a licensed agent and I may begin courses to become licensed in the coming weeks. I want to have the ability to utilize my potential agent license and (growing) knowledge in rehabbing to build a sustainable business with streams of revenue from multiple sources. This is a career change that I’m considering after many years in IT industry. I would stay with my current job to help bootstrap my new career endeavors.

While scouring the BP forums I have learned a lot on the benefits/drawbacks of being a licensed agent while also investing in real-estate. I’ve also seen where many posts have deep-dived into the nitty-gritty details of the ethical/legal concerns, which has led me to create a fuzzy picture of the possibilities as a licensed agent/investor.

For the sake of myself and others newbie's that my visit BP, I'm hoping to understand what situations could I generate revenue as licensed agent/investor in an ethical/legal manner, I.E. birddogging, wholesaling, rehabbing, etc.. I understand that the options are almost limitless to non-licensed investor, but I'm concerned with a licensed agent/investor situation in regarding to REI options. I'm also very curious what would be considered a "gray area" for generating revenue and what would be considered "unethical/illegal."

I know this has been discussed all over the forums and the books I have read, but I couldn’t find a post where it was all condensed at a high level AND relative to today’s markets. If this has already been shared, please provide a link?

Caps were added for clarity – not yelling ;)
- WHAT ARE ETHICAL/LEGAL INVESTING OPTIONS FOR A LICENSED AGENT/INVESTOR?

- WHAT IS CONSIDERED "GRAY AREA" FOR SOMEONE ACTING IN THE CAPACITY OF AN AGENT/INVESTOR?

- WHAT SHOULD SOMEONE IN THE CAPACITY OF A LICENSED AGENT/INVESTOR NOT CONSIDER AS A REVENUE METHOD B/C THEY ARE UNETHICAL/ILLEGAL METHODS?

My apologies if this all seems fundamental, but it may assist in providing me clarity into the facets of revenue that are possible as an agent/investor.

Best regards,
dp