All Forum Posts by: Marco Santana

@Marco Santana, welcome. KCMO is an outstanding market. I have extensive experience working with OOS investors. If you need information on the KCMO tenant bill of rights, healthy homes act, zip code ratings, or the KCMO path of progress, feel free to contact me through DM or email, and I'll be happy to send you everything you need.

Having a team of rockstars is important, as your involvement in and ability to travel to KCMO may be limited. Ideally, you should find an agent who has a portfolio, has been doing this for a long time, and can refer you to great lenders, title company closers, contractors, inspectors, and more. Hopefully, they can also discuss entity structure and property management or refer you to a great property manager. A good team should be able to handle everything for you if needed.

I have BRRRed and flipped over 160 properties for myself and my clients. Be careful of the advice you get regarding contractors and the process. Most agents have little to no knowledge regarding the renovation process. 

@Marco Santana

Encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

To avoid going through the same poor experience, keep reading.

Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.

We also can’t believe how many owners hire the first PMC they speak with!

Then they complain their expectations aren’t being met!

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It's often a case of not doing enough research, as they don't know what they don't know!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

@Marco Santana If you are looking for any size of multifamily, let me know. I can also show you the class a, b, c and similar investment areas to look out for. Just DM me and we can chat further!

Hey Marco! Kansas-Citian here. You're coming to the right place. Let's connect and I can set you up with some properties and tell you about the areas that are growing right now. 

We've definitely funded a lot of text book BRRRR deals in KC, MO. Great fundamentals in this market.

@Ryan Edwards

Guide to Kansas City Zip codes

B+ zips

Blue Springs

64015

64014

Grain Valley

64029

Lee’s Summit

64068

64063

64081

Raymore

64083

Kansas City, MO

64145

64112

64101

Liberty

64158

Northland

64152

64151

64154

64155

Shawnee Mission

66217

66216

66219

66215

66210

Olathe

66026

66061

Prairie Village

66205

Gardner

66030

B zips

Kansas City, MO

64105

64114

64111

Kansas City, MO

64137

64138

64108

64111

64131

64110

Independence:

64055

64056

64057

North Kansas City

64119

Overland Park/Merriam

66202

66203

66204

66214

66212

66214

B - /C+ zips

Gladstone

64118

North Kansas City

64116

64117

Independence:

64052

Raytown

64133

Grandview

64030

Belton

64012

Kansas City, KS

66112

66106

C zips

Historic Northeast:

64124

64123

Kansas City, MO

64129

64130

64109

64132

64134

Independence:

64053

64054

64050

Kansas City, KS

66102

66103

66104

66105

Riverside

64150

D zips

Kansas City, MO

64125

64126

64127

64128

Kansas City, KS

66101

@Caroline Widjaja 

just recently spoke to a couple national lenders that lend to foreign nationals. Here is the list, let me know if you want me to connect you. Keep in mind that most of them will require you to have some "skin in the game" and roughly require 20-30% down.

conventus llc

lima one capital

corevest

cosmic funding by onyx capital partners llc

@Marco Santana

Owners often ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it or do whatever they want!

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.