All Forum Posts by: Helio Dor

Look up city crime data as well. That is a big thing and you'd be surprised about the crime rate in even great neighborhoods with household incomes of 100-300k. The worst crime neighborhoods are not always the lowest income neighborhoods in KC. For example, some areas SFH may exist but the clientele that move into them have to be comfortable with the neighborhood dynamic. You may find other renters that refuse to put up with for example: gunshots, stolen cars, etc. in select neighborhoods.

Downtown is growing at a super fast pace in anticipation of the 2026 world cup, but most locals and the less than millionaire status investors are priced out already because our market doubled and tripled before covid, again during covid, and isn't coming back down.  The way gentrification is working is the people the east areas of downtown, which were formerly bad areas, are moving more and more east towards unincorporated Jackson County due to gentrification and the city putting more section 8 housing contracts more and more outside of downtown. So basically, if you want to invest your best growing areas are on the fringes of the city where you may still be able to get a decent deal and hope for some 10-15 year out major appreciation.  Downtown a lot of the rents and areas have already sky rocketed or have already been gentrified, are being gentrified, and there is some community sentiment issues because low income households feel they are being pushed out of where they lived for years and years. Example: Rent was 595$ a mo in 2013 and the same complex was renting for 1200$ in 2020 and then they built new condos  in 2022 worth 2500-10000$ rent (yes I do mean 10,000$) all in the same neighborhood. Wages have been stagnant, so. This isn't a complaint, I just thought you could use the tip if you take a step back on focusing on real estate and focus on sort of the economic factors of an area it can help. You can see how/where people are moving and why it is growing. This all hinges on the city not losing funding and regressing it's gentrification projects, though. If they stopped pouring millions into new developments as a city we'd be SOL. 

ALSO--to add--if you are from out of state this can be a difficult market because for example: Kansas school districts are regarded a great. MO school districts are regarded as less great. MO has less jobs. A lot of people from MO drive to KS for a job. KCMO lost school accreditation years ago (and I don't think has it back) so this makes families move to other school districts. Prairie Village listed above is one of the "richest", nicest areas, so... do some due diligence on the school systems and things if you want to do SFH or MFH and you are marketing to young families.

*SOME* loan mortgage officer jobs are remote. Sometimes they start office and are remote if you produce i.e. do well. They run the same risk as a real estate agent in that they are pretty much 100% commission based and you can lose your tail if you can't sell any product (product being the loan package). However, since everyone needs a house loan once they decide to purchase a house you know the buyer is far down the funnel of becoming a client. Additional downsides are they make a small fee per loan serviced and it's less than a real estate agent would make. My personal opinion is I'd rather be a real estate agent than a loan mortgage officer. There are a lot of people who rate shop in this economy, so there is that too. Sometimes you lose your leads when they go elsewhere and your hands are tied because you can only sell rates the bank you work for approves. All this info is coming from my cousin/her SO who I know who have done it for a few years. 

Thanks for the tip! 

Hi, 

I'm definitely a real estate rookie. I am considering a house hack for my 2nd property. My first property is a condo, which I know most people avoid. I happened to get lucky with that and I'm in a position to buy a SFH or duplex this next year and move into it and rent out the primary residence I've been living in the last few years for over mortgage rate i.e. cash flowing.

It seems to me the primary problem with house hacking comes when you reach the loan term limit of the 8-10 loans a bank will let you have out, or your DTI exceeds what you need it to be because the loans are all in your name and not in a commercial LLC. I know some realtor friends who owned their 2 first properties in their name and not through a commercial LLC loan. They said you didn't really need an LLC for the first few properties.

In short, I'm curious, how many homes people have house hacked before they moved on to commercial loans, Or generally just any tips. I'm waffling around about making that 2nd purchase a house hack or a commercial acquisition because they each offer different benefits.