All Forum Posts by: Dawn Vought

OK silly question - what does "PIG" stand for?  TIA.

Thanks Jim!  Makes sense.

Brady - isn't most of Kansas City within the 435 loop?  From what I can see on a map it includes most of KC, Overland Park, Shawnee, North KC, Gladstone, etc.

I'm looking for a handyman to do various types of jobs on an as-needed basis on a rental portfolio in KC.  Anyone have any recommendations?

TIA!

Ethically, if someone (realtor, broker, wholesaler) brought you the deal, you should go through them, at least until they confirm that it's O.K. to go directly to the seller.  It's O.K. to ask them if you can deal directly though.  It makes the likelihood of actually closing a lot greater. 

A lot of realtors will try to block you because they don't understand how lease options or seller financing works.  If someone winds up becoming a road block instead of performing the helpful function they are supposed to be filling, then I wouldn't fault you for dealing with the seller directly at that point!

@Brian Gibbons - good wording!  Will probably incorporate that or something similar going forward.

Josiah - with a rent-to-own lease, you should build up rent credits every month that accumulate over time to go towards your down payment.  It's usually a certain percentage of the rent.  For example, I usually give about 20% rent credits to my lease option tenants. 

You could also maybe offer to "help out" with the management of the other tenant to the existing owner, thereby learning and gaining experience as you go, and maybe negotiate a higher rent credit in exchange that will ultimately save the existing owner money.

With little money available to make a purchase and no to little job history/income, I would recommend looking for a lease option (rent-to-own) scenario.  You will still need to demonstrate that you can pay the rent, however, so I would start to try and find whatever you are looking to do full time in KC now.  Don't wait until you get there.  That being said, it's great that you have a plan and are starting your real estate journey just out of college.  I'm sure you will be successful!

@Derrick Dunn

It sounds like the owner wants $25K and for you to take the house subject to the existing mortgage.  Is the house work $85K or more?  If not, just move on to the next one.  If it is, run your numbers and see how much of a discount you would be getting it at.

Hi BP Community!

I have SFR rentals in the KC, MO area and am looking to align myself with a landlord-friendly realtor to handle my lease ups when a tenant gives notice. If a realtor specializes or is at least familiar with rent-to-own lease options, even better, but basically I would like to find a realtor that can lease up a rental quickly with good quality tenants, rent-to-own or not.

Does anyone have any recommendations of realtors who realize the urgency of not having a vacancy?  I find some realtors don't want to be bothered putting in much effort until the existing tenant is fully out of the house, but that defeats the whole purpose of getting notice, and not only loses rent money but also invites vandalism and other issues.

Thanks in advance to this great community!