All Forum Posts by: Dan Krupa

@Eka Linwood - a lot to unpack.

I personally think you're off on the market cycle. Like a lot off. We are at the top or starting to come down from the top of a market cycle. I don't know, no one knows. But that is my two cents and I do this a lot here in KCMO. 

Winter is tough. Not a lot of buyers but not a lot of inventory. That said, I have found some amazing deals in wintertime. Make sure you have a great agent, they need to be on it to scope up the good deals.

3 bedroom is always better than 2 bedrooms in a SFH. In a multi it is a different story. Two minimum, three better if you can get it.

Area - I like other areas better but I am a big believer in investing close to where you live, 30 mins or less, if you can. So if you are down there - get after it. It is definitely a good area. I just don't see the growth potential there as others but it is established and good.  

Leverage - be safe about it but do what you are comfortable with. Make sure you can support whatever for at least 3 months with no income from the asset if need be.  Plus the more you leverage the bigger your reserves need to be.

@JJ Buckner if it is porcelain then just have it refinished. About $125, will look brand new. PM me for a name. If plastic and needs replacement what are you doing with the show surround and plumbing? PM me if you need a name, I know a few guys but I need to know exactly what you need done. 

I think it is Trulia that has a crime map or you can find the Raytown/KCMO crime heat map. Check schools, etc... Lots of tools out there to help if you are not sure. 

@Sebastian Madariaga - my first full flip was a house we purchased and lived in, prior to kids. Don't do the rehab yourself if you have kiddos. It is a good way to learn and understand basic things. Now I am a firm believable in letting the experts do what the experts do. My time is more valuable then what you pay for most things and the subs are going to do a better job.  Pros and cons to both. I am glad I started the way I did and learned a ton but also glad to be wise enough to hire everything out on our flips now.  

@Chris Wilkerson - welcome. I was an Army officer for 13 years, so thank you for your service.  I always think wholesalers should do some rehab first. Most are terrible at estimating rehab cost, sorry but not sorry wholesalers - it's true.  If you need advice feel free to PM me. We have flipped 50+ houses, have rentals, PM, have a brokerage, etc... We know a thing or two about residential stuff. 

@Kevin Hoff house flipper and landlord by day, brokerage own by night. We specialize in helping OOS investors. Happy to send referrals. PM me if you need help or just looking for advice on up and coming areas, home inspectors, lenders, etc... Happy to help. 

@Kyla Clayton we are transplants here in KC. We moved here to start up our flipping business. Now own rentals, a brokerage, PM, and flip in KC. I love this market. PM me if you have any questions. 

@Account Closed PM me, I will hook you up. Have a bunch of great ones. Need to know if you are buying and holding? How much you want to put down? Are you buying in your personal name or as an LLC? Rates and terms, etc... Lenders are like subs - you need the right one for the right structure and property.

@Chad Lundquist how much is financial freedom. If you need cash flow SFRs are not the way to go. Air BNB or MF/commercial is your best best. PM me if you need some more help. There is a lot you can do with a 200k LOC.

I will be the odd man out. I don't like to have any cash into my rentals. I prefer to buy at around 50% ARV, rehab it, refi it and get all my money back out - then my returns are infinite. But different strokes for different folks. That is what is awesome about REI, no one path is right.