It’s a crazy time of year. Some people are working. Some are not. Hey, it’s Christmas and New Year’s and we just finished Chanukah…
Then you add on 8″-10″ of snow…
And yet, I had to go by a house earlier to check on the completion of repairs so we can close tomorrow (not going to happen) and I have an appointment in about an hour from now to go wading knee deep in snow to show a HUD home that is for sale.
Ah, I love the winters in Kansas. 🙂
Filed under Uncategorized
* Hey. Some great job news for Overland Park. I’ve said it a million times, Overland Park is the economic engine of this area. Not KC. Of course, I expect a few angry emails about that very soon. 🙂
* My dog, Ben, would be wrapped up and put under the tree if my five year old had anything to do with it. There are Barbies, books and all sorts of things she has found under our Christmas tree.
* A very sharp, reasonably priced duplex for sale in Overland Park has just come on the market. $795 rents with good occupancy history and little deferred maintenance. Priced at $190,000. Location around around Johnson Drive and Metcalf.
* Taking the family on our annual drive around Kansas City to see the Christmas lights this Friday evening. I’m asking, is there any better place on Earth than The Plaza at Christmas?
Filed under Kansas City, Kansas City Real Estate
Real estate investing in Kansas City right now is all about the single family homes. There is more downward pressure, build-in equity and inventory of these properties.
Many of the multi-family investment property owners (duplexes, fourplexes and apartments) have either already failed and fallen into foreclosure or they are continuing to sail along. Why? Because while the value of a particular duplex may have dropped, say 5%, the rents still cover all the PITI and expenses if the investment property was purchased on proper fundamentals. Follow?
But the SFH seller may have lost a job or fallen ill or whatever and they need to either turn the keys in or sell at a steep discount.
Now, being Kansas City, we still haven’t suffered anywhere near what other parts of the country have. Thank God. But if I were a real estate investor I’d be looking more in the single family home market than multi-family homes.
Filed under Real Estate Investing
First, I’d like to thank the many, many of you that commented and emailed about my short blogging vacation. It was appreciated. I started blogging in January of 2006. That’s like the pioneer days when you think about it. At least where real estate investing or real estate is concerned. And with very few breaks I’ve blogged continually. So it was a much needed mental rest. 🙂
While I was away I ate a lot of food that wasn’t so good for me. Watched a ton of college basketball including teams I may not get to see again until March. And even had time to go out and look at a few potential rental properties. Oh, and did I mention last weekend I got a call from my tenants in Olathe saying the fridge had shot craps?
I’ll end this post with a message I’ve been screaming for years and years. Keep a reserve for your rental properties. With one phone call I had to spend $800. $800 over the Thanksgiving weekend and Christmas right around the corner. $800 when real estate investment property sales are down from last year. $800 of cash.
If you do not keep a reserve that $800 would have to come out of your personal account. Try explaining to your kids why there will be no Christmas. Plan, save and be diligent with your money. Someday, you’ll be glad you did.
Filed under Uncategorized
BBQ Capital | Kansas City Real Estate Investing 