All Forum Posts by: John Powell

Not trying to fear monger, but for those of you investing and living in the area......maybe you can kick up enough of a fuss.  This can have a possible trickle down affect to surrounding areas in Kansas City. Here is a link to the conversation surrounding the proposed legislation.

https://www.biggerpockets.com/forums/52/topics/346...

I see, thank you all for the input. 

I had heard through a particular email, that Independence and various other area were instituting regular 2 year property inspections by licensed inspectors? Is there a shred of truth to this? I was considering flying in to look, but wood consider cutting of my trip plans. I plan on speaking to a lawyer about the area. 

I see, that's a valid argument. I'd have to talk to a CPA to get a better feel. 

@Mark Shaffar it's after all calculations. I base it on a 10% vacancy, 10% yearly maintenance, Prop mgt fee, insurance, mortgage, and taxes. This excludes Cap-Ex. I'm just wondering, what the point of investing in these out of state properties if Cap-Ex eats up funds after say 10-20 years. This is with brand new big ticket items in these turn key properties.

I've been running numbers on turnkey in other states. I'm truly wondering if there is a point in investing in these properties after running the numbers. Typically, you see about 200-300 dollars in cash flow after expenses. I've seen a few posts ranging from 170-200 dollars for a single family home for CAP-EX. You deduct that amount and you're typically left with 100 dollars a door. What do most investors do to make their numbers work in their home areas? Also, with turn key would it be better to sell before all these expenditures hit. I was thinking about going to Kansas city, but at this point, I'm just considering house hacking and dropping a large down payment to not over leverage a property.

Thank you for the posts.

@Mike D'Arrigo thank you for your input. Will use. 

@Bill Schrimpf thank you, that's a good idea. 

@Mike D'Arrigo, that makes sense. That's seems like one of the more confusing aspects to me surrounding how to prevent law suits etc and protect myself.