All Forum Posts by: Jim Genis

I would also add:

• What are your lifestyle goals related to real estate investing? Do you want to build your own company? Do you want to get your hands dirty? Do you want to leave the rat race? Do you just want higher returns? Do you want to do real estate for the "money freedom" or the "time freedom"?
• How much time do you have to devote? (This gets at managing projects & properties themselves vs. using professionals. A LOT harder if you do it yourself; not as easy as HGTV makes it look!)

@Ejy Mirjan, your decision to invest in KC is very solid. I lived in San Diego for 10 years and found nothing that cash flowed... or the IRR was so thin it wasn't worth the heavy investment.

While I was in San Diego 8 years ago, I bought 2 properties in Huntsville, AL and still hold one of them. However, I "traded in" one of those properties, reinvested in KC, and tripled my cash flow. 

@Account Closed's advice I agree with in terms of targeting, although I tend to migrate towards B-grade properties as long as I buy very low and do my own rehab. Otherwise, his strategy and advice are wise.

@Andrew Syrios is another very successful investor you may want to touch base with. His family started in Oregon and they have done literally hundreds of buy-and-hold deals here in KC which they refer to as "Ground Zero" for buy-and-hold residential real estate. Look up his blogs here on BP.

Good luck!

Welcome @Rick Novotny! You're making a great decision at a great time in your life. If you follow the well-laid plans of the folks above, you can retire by 40. Don't try to reinvent the wheel; what you're trying to do has been successfully done by hundreds of others. BP is a great forum for this.

Good luck!

@Brandon Sturgeon, are you talking about the Lawrence market, Kansas City market, or other areas in Kansas?

@Jason Hawk, welcome!

I'm also in Olathe and would like to spend a few mins on the phone to learn more about your services. Perhaps we can do business together. Please send me a private message and let's connect.

Jim

@Rodney Smith, welcome! I can refer a handyman, local attorney, broker, foundation guy, mortgage specialist, and several others. If you let me know exactly what you need, I can provide a referral.

Jim

@Joshua Ashcroft, I know 4 investors who moved to KC from Portland solely to invest in this market. And they've done VERY well. 

Personally, I started investing in 2 other markets (San Diego and Huntsville) and find KC to be Ground Zero for buy-and-hold investing. I now live here.

I got my real estate license in KS and MO to focus ONLY on investors and investment properties so I could build out my own portfolio. I do help other investors as much as I can (and as my limited bandwidth allows).

Let me know if you'd like to chat on the phone and I'm happy to discuss more. Just send me a personal note and we can connect.

Jim

@Clara Miller, welcome! Small world... my wife and I bought our first investment properties in 2008, let them ride for awhile, and now we're back into it in a big way. We've completed 5 deals and our target is a dozen in 2016. I also live in Olathe, commute downtown everyday, and have a family, so we share similar dreams.

Let me know if you'd like to get together for coffee, just us or with our spouses. We might be able to learn and help each other. Just send me a direct message and we can connect!

Jim Genis

@Lucas K., it sounds like you need an insurance agent and attorney to put their heads together on this one. Because an attorney charges a fee, I can refer you to my insurance agent who's very experienced and may be able to advise you. If that doesn't get you the answer, you may need to bring in an attorney. I can refer you there too; my insurance agent and attorney have worked on similar challenges before. Just send me a direct message and I'll connect you.

Good luck!

Jim

@Eugene Mar, it looks like you're well covered with the folks above. I've worked in commercial real estate loan brokerage and know that multifamily deals are a very attractive asset class for lenders, from bridge loans to CMBS. I'm confident you'll find it with the help offered.

Best of luck!