All Forum Posts by: Dennis King

Congratulations! How many doors do you own (not counting the storage units)? I am at 8 SFRs and looking to ramp up in the coming years.

First, congratulations on your vision. Second, read Rich Dad Poor Dad, so it will confirm your vision and give you the fuel to see you through the tough times because there will be tough times. Yes, get a mentor and the best kind is a fix and flipper because they can teach you quickly how to buy, how to estimate repairs, how to figure out the after repair value (ARV) and how to sell. These lessons will teach you how to make a living in real estate. Next, work at a property management company and learn how to buy some of those fix and flips and hold them for long term value investing. This is something you can do in a few years and be ahead of most of the population. Good luck!

I was from NY, but live in Kansas City. Great community, great employers (Federal Reserve Bank, IRS, GM Fairfax auto factory, Ford Claycomo auto factory, Garmin, Cerner, Hallmark Cards, etc.) and you can get good cash flowing homes for under $100K. I buy in B+ neighborhoods for $90 - $110K with a price to rent of over 1%.

Amen Jon S.

In this highly competitive market, there is no single silver bullet. Multiple approaches will return results, but not as good as it used to be or will be once the market turns. Networking, bandit signs, direct mail, networking, auctions, driving for dollars and some MLS listings will produce results.

The key is quality and consistent. The marketing piece and message need to match the quality expected by the buyer and it takes multiple impressions to move a market. 

Coke continues to market in multiple ways in order to keep and get new customers. Why would it be different for real estate?

Great insights, thanks

Sounds good.

In Kansas City, the single family home prices dropped 20% in 2008 in many areas and the inventory and day on market increased dramatically. When the next downward cycle hits, what are the:

1) Key drivers (economy, interest rates, war, local economy change, lending changes)

2) Impacts (price drop, days on market, both, no funding, acquisition costs)

3) Strategies (a. buy, fix and hold; b. buy/sit; c. do nothing; d. buy/wholesale)

We are in a long 7 year real estate boom and this can't continue forever. I wished it would, but I want to get folks sentiment on the topic.

In Kansas City, the single family home prices dropped 20% in 2008 in many areas and the inventory  and day on market increased dramatically. When the next downward cycle hits, what are the:

    1) Key drivers (economy, interest rates, war, local economy change, lending changes) 

     2) Impacts (price drop, days on market, both, no funding, acquisition costs) 

     3) Strategies (a. buy, fix and hold; b. buy/sit; c. do nothing; d. buy/wholesale)

We are in a long 7 year real estate boom and this can't continue forever. I wished it would, but I want to get folks sentiment on the topic.

I was paying too much for insurance in Missouri, but not Kansas. I have rentals in both sides of the state line. I did an expensive search and researched many of the tips recommended on this forum. I did find Acuity provided the lowest rates, put everything on one policy, provided $2 million liability and has a great agent. PM me if you want more details. Insurance is the foundation to a solid real estate investment strategy.