All Forum Posts by: Dennis King

Thank you kindly. I will call him.

I need a list of general contractor as well. Please message me. I have a great painter and home inspector if anyone needs one.

I have a home I bought at an auction. It is a 3/2/2 in an B+ neighborhood, north of downtown Kansas City, MO.

I need the lower level finished. Do you have a contact of a general contractor who can provide carpentry, electrical, drywall, tile work, paint and finish work? I need someone who is fast, good quality and decently priced.

I shopped around and ended up with one policy that covered numerous rentals with an additional umbrella with a rate that was much less than other policies. The company is Acuity.

I have a number of homes in Kansas City, some I manage and some a quality turnkey companies manages. 

I'd like to buy a couple of homes in Tulsa from an organization that buys right, updates that home with durable upgrades, finds quality tenants and manages the property with solid execution.  Who do you recommend?

Good ideas. I have looked into additional markets and in addition to great input from BP, I also look at the following to help with my decision making:

- Large employers - a strong employer base is vital to good renters. Do you like these employers and do they have staying power. Investing in a rental property next to Kmart headquarters might not be a good move, but next to Google is probably a good move.

- Government employers - Since government employment is steady, if there are a large number of these jobs, then rents will be strong and consistent. For example, Kansas City has the Federal Reserve Bank, City Government, large IRS facility to name a few.

- Captialization rates - Talk with some turn-key providers and see what they are offering in this area. It may be a great employment market, but if the cap rate is below 5%, then you are hoping for a speculative value increase and that is educated gambling.

- Location, Location, Location - Drive the neighborhoods and see if it is what you are looking for. Some folks want C neighborhood, others want A. Online pictures may look great, but no one takes a picture of a crack in the foundation or the neighbor who has let their house become a crack house. Time on the street is the best investment you will make.

Go with these four things and you should be able to make good decisions.

Confirm with your folks, but the key to real estate is buying a house at the right price. Don't go through the MLS and pay retail. Find a property that is a little distressed, someone who has lived there a long time and neglected the house and would rather sell you the house for wholesale. You can put a little time in doing the work yourself or hire skilled contractors to complete the work and you have instant equity. Yeah, find them by driving the neighborhood you want to live in and send them a letter.

You get what you pay for. I really like Bridge Management LLC led by Nathan Brooks. They charge 9% and give you much more than an 8% fee team. They get good renters into your house, they actually get higher rents than I expected and they have a great team of skilled folks.

An example I have experienced recently is a house that they quoted $950 a month rent in the pro forma when we first started talking, but in the end they rented it for $1,025. I met the tenant and they love the house. That is what 1% buys you. 

I have 7 rentals in the KC market, have done a number of flips and working on wholesaling in high end markets. I would love to be part of a smaller group. Put me on the list.

thanks for the reference