All Forum Posts by: Levi Lanzrath

Hey all! 

I wanted to ask the community: What are examples of your strategic renovations to demand higher rents, higher appraisals, or even a higher sale price? 

For example: with rentals, will you refinish hardwood or just use carpet? How much energy/money do you put into the exterior of the home? 

Personally, my chosen strategy is the BRRRR method, so I'll rip up carpet, refinish hardwood if it's there, take down wallpaper, repaint the walls, refinish cabinets, countertops (never granite), put in a washer/dryer, etc. I just would like an updated, clean feel to it without spending an entire arm and leg on it. I haven't got to my first refi quite yet, so I am very interested how cost effective and appraisal demanding my renovations will turn out to be.

I'd love to hear your strategies for making the most of your deals! :)

@Derek Blades definitely! Text me the details, ill come by tomorrow!

@Kevin Polite I absolutely agree about appreciation. I don't count on it, even in hot upcoming markets. Its a gamble in my opinion. With that being said, I think there is plenty of work here to atleast sustain a strong rental market long term. Cash flow and a rental market is all i focus on here. Although since I've moved, it seems Wichita is doing pretty well! Decent growth, and most of my friends still here are working great jobs with tons of opportunities.

Just wanted to start a discussion on different things that REI in Wichita and metro area look for when shopping Real Estate! What areas, type of build, price range, potential client base, etc. Personally, I'm new to Real estate investing! One reason behind this post is to say hello and introduce myself! I will actually be in town over the weekend if anyone wants to grab a bite or brew and chat real estate! I grew up in Wichita, but moved to Denver when I was 18. The market is highly inflated here (up to 7x Wichita prices), so i decided i would buy in Wichita for cash flow. Luckily i found a deal pretty quick, and I'd have to say it's exactly what I was looking for. A 70k brick duplex at Lincoln and woodlawn area. I close the 13th, and I'm hoping to BRRR the property! When I'm shopping, I look for a few things. Feel free to let me know if I'm crazy for doing any of these: I like Brick homes! This is something one of my mentors kind of drilled into my head from his own buys here in Denver. I'm ok with a bungalow or typical wood frame as well, but i value brick more. I'll buy in a cheap area, but up until a certain point! I want to keep good tenants for years if possible, and i want them to enjoy where they live. Jobs! I want there to be steady work in the area. I try to assess the future of jobs 10 to 20 years down the line. Obviously this is extremely difficult, but automation is quickly gaining traction so i try to account for that. Unfortunately the US is always in conflict somewhere, so i consider all military a stable job market. Value add and under market price. I want to be able to improve the property somehow, create equity, and a place that someone is proud to rent. Solid fundamentals. I will NOT buy something highly speculative, that requires a refi or higher appraisal just for it to survive in my investments. I count on a market crash. I've got my day job to roll the dice, im in REI for the "safety". Luckily Wichita's market seems to have plenty of solid fundamental opportunities. What do you like to see in your investments here in town or in general? :)

Grant, 

I'm in the same exact boat as you and started following this thread hoping it will blow up! 

However, I will say that most successful investors I've read about and talked with, will only invest in areas they are familiar with, or have very efficient systems in place to overcome the distance. 

One of the hardest things I've found in my businesses is hiring reliable, trustworthy people that I'm proud to have on my team. Hiring the right people and managing these people is a skill; and a skill essential to investing out of state. If this is something you're good at, I think you have a great chance investing out of state and banking on cash flow/slow appreciation.

Are you from Denver? If you moved here, my first place to invest is previous places I live(d). I'm personally from Kansas, and will invest there simply because the cash flow is greater, I have a network of friends/family to build relations on, and I know the area. I've watched certain parts of the town evolve, and seen other parts stay stagnant. The local advantage.

I think Denver is more of a gamble, banking on appreciating. But if you hold for 10-20+ years, I see it being a HUGE payout. 

As mentioned above, I think it comes down to your goal. Cash flow guys always tell me appreciation guys tend to get burned, and appreciation guys tend to say cash flow guys will hurt in the long run. I will be playing both fields. 

Hey everyone!

I'm new to these forums, but I wanted to start by gaining a relationship with one or a few investor-friendly real estate agents in the Denver area! I'm looking for homes that I can rehab and add value to. Obviously, I love off market deals as well.

I've got good credit, steady cash flow, decent capital, and access to multiple hard money lenders for bigger deals if they come up! 

I create my own schedule, so I can go look at deals about anytime, anyday. If you're bringing me off market or direct deals, I'm willing to incentivize based on paying per showing and/or deal with you directly so you can keep the full Realtor fee!