All Forum Posts by: Luther Wilson III

Hey @Brad Clark, 

In general, Hyde Park, Troost Highlands, Pendleton Heights, Beacon Hill, Kenwood, Vanderbilt, Sunny Slope and Beacon Hill are some of the good subdivisions. There are some other good pockets... Once you come across a potential deal let us know and we can help you dig deeper.

Check out some of the previous posts here on the forum referencing Kansas City.  KC, in the areas that you mentioned, can be very spotty so do your homework and for sure ask around outside of BP as well.  Get on the horn with some professionals here.  I'd be happy to talk shop with you as well.

Hey @Tom Hertz,

Here are two solid inspector recommendations:

Steve Rodriguez  -  Bulldog  

Travis Silvers  -  KC Urban  

Here's a couple foundation specialists:

JLB Foundation Repair  -  Josh Bultmann  

Whatever It Takes  -  Matt Murray 

Send me a PM if you want their contact information. 

Hey @Geoff Chan, we'd be happy to assist you as well.  We're here on the ground, making moves, investing and "the whole 9 yards".  :)

Hey @Kevin Hoff!  We're here on the ground in & around Kansas City as well.  We'd be happy to assist you and or give you some input about the realities of the market here.

Welcome aborad, @Tiwana Merritt!  Keep us in mind if you ever a need a hand or want some input about the Kansas City market.

How many properties, what's the asking price and why are you so intrigued by this type of deal?

If you have money like that then why go for low-end, bottom of the barrel, properties instead of leveraging the capital for property acquisitions in nicer, less risky areas?

By the way, good luck finding a solid property manager who's worth a lick...  If they're even willing to take these on has got to make you wonder a bit about their mind-set, credibility, experience, and truthfulness, doesn't it?

No problem, @Krish Das.

Once again the #1 rule in real estate investing:  LOCATION, LOCATION, LOCATION

Here are the biggest cons about these locations:

1.  The crime.

2.  The poor school quality.

3.  The older homes that usually require more maintenance & upkeep.

4.   Low-income areas, in general, tend to bring on low-end people and low-end types of problems.

Here are the biggest pros about these locations:  (YOU MIGHT GET LUCKY)

1.  You might get lucky with the tax benefits and write offs.  (opportunity zones, loss of income, mortgage interest, etc.)

2. If you're okay with charitable organizations and dealing with HUD or other subsidized rent programs, etc. then you might get lucky.

3.  You might get lucky and break even at the end of the day when you dispose of the property.

Here's the deal:  These areas are tough...  The only people who I've seen have any kind of decent, long-term success with it are those who are here on the ground, they handle their own maintencance & contracting and they do their own property management.  (If you have to hire out for property management or contracting & maintenance then good luck.)

Ask around and don't say we didn't warn you.  ;)

Hey @Krish Das, let's talk.  We're here on the ground in KC, making moves, practicing real estate, and helping others along the way.  I'd be happy to chop it up with you sometime.

Hey @Dustin M Prasuhn, can you give more information about the location of the property?  If it's in or near KC we'd be happy to dig a little bit deeper into the analysis to assist you.

There's a # of factors off the top of my head to consider besides the things that have already been mentioned:  location, age, square footage, real ARV, taxes, etc. Who did comps for you and who's presenting the deal to you? What kind of interest do they really have in serving you besides closing the deal and getting paid? What's being said about the location?  Let's talk.  Send me a message.  We're here to serve...

- Luther

Hey, @Krish Das, we have quite a bit of experience in this market in these areas.  I'd be happy to talk shop with you.  What's the next step for you?  Hit me up if you want to talk sometime.

- Luther