Category Archives: Uncategorized

I had to laugh out loud yesterday as I was reading through Trulia Voices.  Seems someone had purchased a home FSBO because they wanted to “save the commissions.”  Ah, I’m not even going to discuss that the seller was selling FSBO because they wanted to “save the commissions.”  (So who saved?)

Anyway, now that the FSBO Buyer had moved in they found a bunch of stuff that was wrong.  Really?  I’m shocked!  They say they had an inspection.  Who inspected?  I don’t know.  Are they an ASHI inspector?  Or a brother-in-law?  Who recommended?  They also say that none of the items they were now having problems with were disclosed.  Oh, and there were some new developments between when they had the home inspected and after closing.  (Do you think a pre-closing walk-through may have turned some of this up?)

Well, the nerve comes in (at least in my opinion) where they are asking REALTORs on this board what they should do.  As kindly as I could I stated that since they “saved money” on professional counsel during the buying process that they would now have money for the legal process. 

Let me say here that I do not know these poor, unfortunate buyers.  And I am NOT gloating in their misfortune.  But people, this is one reason you need a professional REALTOR on your side.  Not just any real estate agent but one that knows his/her stuff and comes recommended.  You are about to invest upwards of 35% of your monthly income into something.  Don’t you think it would be good to have some help with this very large purchase???!!!???

Just thought you would like to know that later this week I’ll be announcing 4 unit apartments (aka fourplex) for sale in Gardner, Kansas.  Great investment properties.  Price?  Below $200,000.  Gross scheduled rents?  $25,200.

Any questions?

Marcus & Millichap has released their opinions on the growth of the Kansas City area apartment market.  Marcus & Millichap work exclusively with upper end real estate investments.  While I tend to do more single family home and duplex investments they do 20 unit and above residential investment properties. 

Anyway, you can find the report here on a Kansas City Buisiness Journal site.  If you have interest in the Kansas City apartment market you may want to make the jump.  They point out how positive they are on  western Johnson County areas like Shawnee, Olathe and Lenexa because of their positive job growth.

LESSON:  The big boy investors are looking at the same key factors as you and I.  This is not rocket science people.  Job growth equals housing demand.  Housing demand equals fewer vacancies and upward pressure on housing prices.  That’s good if you are already an owner.  Makes it tougher to get in the game if you are looking in from the outside.  Start your real estate investing today!

Geno over at Chicago’s Home Weblog for real estate decided to irritate me by tagging me for a MeMe.  MeMe’s, for those who don’t yet know, are a bloggers expression of friendship saying “I want to know more about you.”  I’ve done these before but I will play along.  So if this seems a little self-absorbed, remember you have Geno to thank!

1. Who is your favorite musical artist?  This is a tough one as I don’t really play favorites anymore.  Who has the time?  I will say that Alison Krauss, her voice, melts my heart.  The Foo Fighters when I’m feeling energetic.  Eminem when I need a laugh.   I like music.  All kinds. 

2. Who is your favorite artist?  I’ve got to go in the direction of photography.  And each and every photographer that has ever graced the pages of National Geographic deserves a nod here. 

3. Who is your favorite blogger?  For knowledge I like Bawldguy.  For great writing I like Geno.  For trashy entertainment with a communist holier-than-thou slant I’ll visit Tony’s Kansas City.

4. If you could meet anyone dead or alive, who would it be and why?  Thomas Jefferson.  Think about the influence this man still has on modern life.  I would love to know where his brilliance came from, what his thought processes were and how he reconciled “All men are created equal” with owning slaves. 

5. What did you want to be when you were growing up?  Center fielder for the Kansas City Royals.  Or an architect.

6. What is the most entertaining piece of trivia you know?  Trivia is trivial, right?  Oh, okay.  Did you know the Bumper Sticker was invented in Lenexa, KS? 

7. If you could live at any point in history what would it be and why?  I really don’t have a problem with where I’m at.  Think about the changes the X Generation has seen/will see.  It’s amazing.

8. What is the most interesting job you have ever held?  People love to hear that I was once an investigator in the Washington, DC area.  And I do have exciting stories to tell.  But over all, the job is fairly tedious.  Boring, even.  I never carried a gun.  I didn’t own a Ferrari.  And I didn’t sleep with women for information.  (That’s the part that disappoints me the most. 🙂 )

Now I’m supposed to “tag” other bloggers.  But I’ll just say “you’re it” and you let me know if you take the bait! 

Memorial Day weekend brings a lot of activity for the Lengquist house.  Just because it’s the holidays doesn’t mean I get to take today or much of Saturday off.  But Sunday, ah, Sunday.  Church will be followed by going over to my best friend’s house.

Doug (my bfl) has a heated pool (that the kids love) and makes the best darned grilled (not barbeque’d, Jeff) shrimp I’ve ever tasted.  And of course, there will be adult beverages to help kick off the summer.

But I don’t want to forget those for which Memorial Day was set aside.  Veterans, yes.  But also those that stayed behind and kept the country going.  The Greatest Generation.  Our Founding Fathers.  For each of us I’m sure there is someone worthy of you taking a few minutes and giving thanks. 

I’m of the X Generation.  We’ve had a fairly “easy” life.  Our standard of living is a little lower than previous generations.  But no Great Depression.  No WWI or WWII.  No hyper-inflation.  Widespread disease is virtually non-exsistent for Americans. 

So to those that made my lifetime as comfortable as it is, I say “Thank you.”

I’m here in Phoenix meeting other bloggers, other real estate investors and other real estate agents.  Several consider themselves California real estate investors.  What does this have to do with anything?   Well, it’s really just an issue of the clock. 

My phone started ringing at 6:30 am.  The person calling didn’t know it was 6:30.  They thought it was 8:30.  And to them, they were right. 

I’m not gonna beat this to death.  Just wanted to point out how relativity can adjust your viewpoints.   There are places outside California where real estate investors are still getting a solid return on their income properties.  Where property values still climb.  Where capital returns are still 20%, or more.  Check out Kansas City.  I’ll show you why real estate investing in Kansas City beats much of California…most every time.