All Forum Posts by: Wyatt Seidel

Hey Dan! I'm local to the KC area. I'm going to shoot you a message. I may be able to get you in contact with someone down in Phoenix as well

Hey Aruna! I would be happy to chat with you about the Kansas City area if that would interest you. We have a great team out here that has helped my wife and me so much

I would be happy to talk with you about the Kansas City market! My wife and I have 4 rentals and it wouldn't have been possible if it weren't for the affordability of Kansas City. Not to mention, rents aren't the highest nor the lowest so you get that sweet middle spot for rent. And no strict rentals laws!

I'm going to message you!

Hey everyone! This morning I was thinking about a good topic to post about. I was reading through forums and I had the idea to talk about our very first investment experience. Please feel free to drop yours below and I would love to search through them. 

My wife and I decided in 2020 it was time to get into real estate. We had some construction experience and rehabbing experience but didn't know anything else. We lived in a small college town in Kansas so the price of properties was extremely affordable. We ended up finding a duplex that had been vacant for 3 years and purchased it for $60k (reminder this was the middle of nowhere Kansas).  We used a private lender to purchase the property and to rehab the property. My family was nice enough to drive out from the West Coast and helped us renovate the duplex for about $18k.

We renovated the upstairs (3/1), then the downstairs (2/1), and got some renters upstairs.  I didn't know anything about rents and cash flow. All I knew was I could save money on our monthly payment to our lender, so I let three of my buddies move in upstairs for a total of $900 a month.  my wife and I lived downstairs for two years and kept 2 of the 3 renters upstairs for the entirety of the time. 

We still had to pay out of pocket every month but as most of you know, the experience is what made it worth it. I'm a firm believer in stopping the analysis paralysis and going for it full send. You're only as smart as the experiences we've gone through. We were blessed to sell it 2 years later for $155k which made us a great profit for our next duplex in Kansas City. 

Share your first investment story, what you learned, and anything fun about the place. Thanks in advance!

Hey Robby! 

This is a great question, but also a very subjective question because it entirely depends on what your specific and personal real estate goals are.

If you are looking to capitalize on equity for large sums of money later, great! If you're looking for cashflow to add to your monthly passive income, maybe not so great. All depends on what your goals are. And I also agree with what everyone else has said so far as well.

The area needs to be hot and developing if you wanna see true rent increases and equity growth over time.  But, you being in Austin, I don't ever see that being an issue.

Hope this finds you well and blessings from Kansas City

Hey Ben! 

I'm not super adept when it comes to purchasing in a flood zone, BUT a good rule of thumb when buying close to a coastal city, is try to stay 60 miles inland. Of course that may not be feasible for some, but I've been told 60 miles inland is the sweet spot when it comes to saving on your monthly insurance policy. Hope this helps and blessings from Kansas City. 

Hey Sandy! Speaking from personal experience, I would try and stay away from those 'bigger' lending companies. Although there are some great nationwide lenders, I've found the local places where you can go and talk to a person face-to-face have always benefited my wife and I when it comes to getting financing on our properties.  

PS; those terms and rates sound too good to be true. Turn and run as fast as possible, lol

Avoid the horrid analysis paralysis. Get in there, get your hands dirty, and learn from your mistakes. Seems like a common theme from everyone else too, lol. 

On a real note, the best way to learn is experience. Like someone mentioned above, you will never find the 'perfect' property. It's a matter of starting small and learning by doing. Hope this finds you well and best of luck from Kansas City!

Hey all, I'm relatively new to the Bigger Pockets Forums, but not new to the Bigger Pockets channel.

I wanted to market myself out here. I'm a new agent and my wife and I are also investors as well (we have 4 units total). I want to connect with buyers and people from all over who have questions about Kansas City real estate market. I believe, as a resident and investor over here, this is by far one of the best markets in the US to invest in. 

The affordability is the biggest pro in my opinion. Not to mention, rents aren't the highest nor the lowest.  So owning rentals over here puts you right in the middle sweet spot.

I'm relatively young and if it weren't for being here in Kansas City, my wife and I wouldn't have been in the position to purchase 4 doors already. I would love to connect with people interested in the area. Shoot me a message or leave your comments below and let's chat! (I always prefer a phone call)