All Forum Posts by: Derrick Carpenter

@Terrance Carr Welcome to the site. I recently joined as well and should be closing on my first property later this month.

I live in Lenexa, KS and my first property is in Raytown.

Welcome and Good Luck.

dc

@Ray Orellano Thanks Ray. I will reach out and meet with them. Thanks.

Hi,

I am looking for a CPA in Kansas City with a good background in dealing with rental property. Is there anyone out there? Also if no one in Kansas City, is there someone in this community I could work with at a distance?

Thanks

Derrick

Hello all,

I have a house under contract in Raytown, MO. It is a little 3br 1 bath house and will be my second rental property. My plan right now is to go through closing and just pay cash. I have about $5k in work to get it ready to rent and I will pay cash for that as well.

My question is can anyone put me in touch with a lender in Kansas City that is interested in lending to real estate investors wanting to purchase buy and hold property? I would like to do a cash-out refi and pull about 60% of the equity out. My goal is to start building a relationship with a bank/lender and hopefully continue to do deals with them going forward. Let me know if anyone has some contacts.

I am also open to other ideas if anyone has thoughts.

Thanks

Derrick

Thanks for the welcome everyone.

@Mike D'Arrigo I am starting to get ok with adding debt and since I have a good amount of cash on hand, it will definitely allow me to acquire more rental property faster.

@Paul Timmins Thanks for all the advice. I have been looking at BP for about 2 months now and i have listened to most of the podcasts. Great tool.

@Ramon Jenkins Thanks for reaching out

@Brant Richardson The house I have under contract will be our 2nd rental property, not our primary residence. Thanks for the advice

Thanks @RachelH. I will check out that info.

Hello - My name is Derrick Carpenter and I am just getting serious about real estate investing. I started as a accidental landlord in Bentonville, AR, when I moved for a job. 3 years later, I still have the house rented to the same people and it finally dawned on me that this is a pretty good deal. So, recently I have spent a lot of time on BiggerPockets building out a strategy and plan to acquire more property in the Kansas City metro area where I now live.

I am interested in buying single family homes ( 3br - 2bath) and renting them for the long term. I recently put my 2nd home under contract and am set to close on 6/23, so I am jumping in with both fee.

I work a full time job in Electronic Payments industry and have a wife and 3 great kids. I love spending time with my family and Kansas basketball. ROCK CHALK JAYHAWK!

I am looking for any advice around how to grow a portfolio in a very thoughtful and methodical way. I am looking to put together a portfolio over the next 10 years that produces good income and allows me to pursue real estate or other business opportunities and leave the corporate world at the age of 45.

My biggest concerns are regarding using debt to grow the business. I am very conservative with regards to debt, but as I read more on the site, I am becoming more comfortable.

Great site, great to be here. Thanks and hope to see you around

Derrick