Monthly Archives: November 2007

Rich Dad Poor Dad in Kansas City

While reading today’s Kansas City Star I noticed in the Local section an advertisement that Rich Dad Poor Dad Education was going to be putting on three days worth of seminars right here in the Kansas City area.

While I find the book to have some great principals and mildly entertaining I couldn’t help but think of Christopher Smith’s thoughts on the book. Well, actually. I think along those same lines.

If you choose not to follow the link here is a bit of Christopher’s post:

In reality, real estate investing isn’t fluff. And it’s not rocket science or mysterious. It’s a practical, hands-on form of investing and a proven way to diversify your returns and build wealth. It’s not particularly sexy to talk about discipline, managing risk, building credit, evaluating properties, managing tenants and negotiating with contractors – but that’s what real estate investing is all about.

Think twice before buying the whole program hook, line and sinker.

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Filed under Personal Real Estate Opinions

Kansas City Foreclosures: Right In The Middle

Living in Kansas City means growing up with a chip on your shoulder. We aren’t New York. We aren’t Los Angeles. Heck, we aren’t even Dallas, Atlanta or Denver.

No, we’re right in the middle…of everything.

We’re in the middle of the country geographically. Housing prices hover around the national median. Sales of units…middle of the pack. Check out the rates of growth here during a real estate boom and you’ll find we’re right about the middle.

But also, during the foreclosure crisis facing much of the country where will you find the Kansas City housing market? Number 54 out of a 100. (The linked table comes from kansascity.com.)

I’ve said 1,000 times and here it comes again. Do you want your real estate investments in a safe harbor? Nothing fancy. Just predictable growth? Think about the Kansas City area.

Give me a call.

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Filed under Kansas City, Real Estate Investing

Are You Listening To The Right Person?

Sooner or later you have to decide who you are going to listen to when it comes to real estate investing. Newbies have the hardest time deciding.

Many would be real estate investors begin to get interested from the shows they see on tv whether they be the HGTV or A&E variety or whether they be the infomercials put on by Carlton Sheets. Or maybe they read all the way through a Bob Allen newspaper ad.

The studious would be investor may even go to the bookstore and find the real estate section and be amazed at the variety of books available concerning real estate investing.

There are books on:

  • Short Sales
  • Buy & Hold
  • Fix & Sell (Flip)
  • Buying Tax Liens
  • Subject To
  • No Money Down

And I haven’t even scratched the surface with that list. Confusion can set in. Should I listen to the REALTOR that gets a commission when he sells me a house? Should I listen to the “real estate investor” who seems to spend more time selling thousands of dollars of books and tapes than he does investing in rental property? Should I listen to my best friend’s friend who says he’s making a fortune in flipping?

I feel for you if you are a newer real estate investor. I went down a lot of these thought highways myself when I was getting started. But ultimately I chose a path of real estate investing that matched both my ability (financially and time-wise) to my values.

You should do the same.

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Filed under Personal Real Estate Opinions, Real Estate Investing

FOUR FRIED CHICKENS AND A COKE

It’s the weekend. Get out. Listen to some blues. Eat some BBQ. Here’s a band that’s fun to see. A high school friend is the singer. The setting is BB’s Lawnside BBQ…a favorite hang out for authentic blues and blues reviews like you’ll see here.

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A Missouri Property Manager…That’s Licensed.

As most of my frequent readers know I have often moaned and groaned about the fact that I have not been able to find a property manager in Missouri that:

  • Has an understanding of Missouri landlord/tenant law.
  • Knows that they have to be licensed in the state of Missouri AND complies.
  • Understands that I am a working REALTOR who works mostly with Kansas City real estate investors and that if they mess me over that will be the end of a lucrative partnership.

Well, I still have to go through all the materials they left me yesterday but I believe I may have found one, Advantage Homes. Funny thing is, I didn’t find them, they found me. They found one of my blogs lamenting the fact that I cannot find anyone I can trust fully.

Side Note: I even had one dude here in the Kansas City area that works with real estate investors and manages properties. Now, aside from my basic belief that you cannot do both extremely well – maybe somewhat well, or kinda well, but not extremely – he told me, yes told me, that if I referred my investors to him for property management that he would now consider them his customers. And besides, after they worked with him they wouldn’t want to work with me, anyway! Seriously? I won’t name the guy. But what an ass.

Property management in Missouri has been my Achilles heel. Now I won’t have to “temporarily” manage these properties for my real estate investor clients. I can, in good conscious, turn them over to a professional property manager.

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See Where Kansas City Real Estate Stands

From the blog SocketSite comes this nice little article. Read it and see where Kansas City stands. You’ll be pleasantly surprised.

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Finally. A Man Worth Killing.

I love the 2004 version of the tale of King Arthur. The movie was done very well and is more historically correct than previous versions. The movie relates the very human principles of honor, purpose and destiny. It speaks to a side of me that is very dominant. The side that says these principles are not lost forever. Rather overlooked by pop culture. But exist they still do.

In the movie the Germana invasion leader is a fierce sort. A man who has lived by the sword his entire life. When he finally meets Arthur he finds a man more afraid of not living on principle than of dying in battle. As Arthur turns to go to ready for himself for battle the warrior says to no one, “Finally. A man worth killing.”

A compliment of respect to be sure.

I work in a business where dishonesty and quick gain are there for the taking. There are many, many chances a year to overlook my moral code and to grab the cash. I’m not perfect. Nor are you. But the complete lack of respect for the laws, principles and morals that made this nation what it is today are what has given us the savings & loan debacle, Enron, Westar, the sub-prime crisis…and more.

What does this have to do with real estate investing and real estate sales? Well, I implore you to live by the verse found in the Bible located at Matthew 7:12.

“Do onto others as you would have them do unto you. For this is the law and the prophets.”

You don’t have to be a Christian to see the wisdom in that. You just have to be human.

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Filed under Personal Real Estate Opinions