Okay. So I told you the Missouri auditor had arrived. My sales files are all okay. My property management files, on the other hand, were a real headache. First, there was the comedy of errors. See, I use a professional software package for my property management (No, I’m not looking to manage more properties. Just mine and the five other doors I have is plenty, thank you.) and it has a lot of accounting practices contained therein. Problem is, neither I nor the auditor is an accountant.
As such, we spent 3.5 hours looking at why we couldn’t balance her figures that showed I had mis-appropriated $225.00 somewhere along the line. The $225 was missing, unaccounted for and as you might imagine, that’s a problem. After about an hour I began to question myself!!!!!! But every month I collect the money, write the checks and every month the check register reconciles with the bank statements so I knew I hadn’t done anything wrong. And besides, who steals $225.00? If you’re gonna steal, go big!
I went home frustrated at the end of the day on Monday and quite frankly, a little worried. This was my reputation. But then it hit me while mowing the lawn that night! I went back in Tuesday morning and discovered she (we) had started with the wrong number from the bank statement. I end my month on the 11th. The bank ends the month on the last day of the month. A combination of checks (totaling $225.00) were written/cleared in between those two dates.
You might say you’d have figured it out right away. And I probably should have. But with an auditor sitting there asking questions about a financial software program I use that I barely even understand (it just works!) I did get a little flustered. Which, is kinda funny really. I spent years in DC as a private investigator. I’ve been shot at. I’ve met Senators and Congressmen. I’ve testified in court so many times it’s not countable. Yet, here I was a little frustrated and nervous.
Anyway, with the money problem solved I did find out my property management agreement I have with the two owners I work with didn’t have a Missouri required clause requiring my Duties & Responsibilities regarding agency (never mind that I give them the official State of Missouri Brokerage Disclosure) and therefore my property management agreements are void as far as Missouri is concerned. Simple enough. I’m adding the clause today and getting the new agreements out in the mail immediately.
Oh, and I was sited for not charging enough! See, my agreement says 6% and on one property I’ve been taking a flat fee that adds up to 5.2345%. So I have to charge more or amend the property management agreement. Funny thing to be sited for as far as I’m concerned. The owner never noticed or cared. I’ll guarantee you that!
All is well that ends well, I guess. I’ll find out my punishments in about a month or so. But I promised to keep you updated so there you have it.
The Missouri auditor finally arrived to day. I’m nervous and relieved all at the same time. Just hoping all of our forms are approved and pass the mustard. Naturally, she wants a bank statement that hasn’t arrived yet so I’ll have to run up to the bank here in a few minutes to get it. If that’s all I have to do I’ll be happy.
Okay, so I admit it. I’m a closet Trekkie. No, I don’t own a Federation uniform. I’ve never been to a Star Trek convention. And I don’t currently own a set of blueprints to that beautiful bird the Enterprise. However, I do admit to having seen every episode of the original series far more than I’d like to count. I do have a Star Trek watch. And I scoff at the notion that Star Wars will ever be as cool or cutting edge as Star Trek.
Let me get this straight, if we want to not save trees by going paperless we need to use even more paper and electricity? Let’s call it what it is…You want to save the money. It makes more sense for an individual realtor to hit print on his email and expend the $0.10 in paper and electricity (because we’ll need that receipt for our taxes) than it does for KCRAR to continue to foot thousands for the expense. I get it. JUST QUIT CALLING IT “GOING GREEN!”
Kansas City – The Missouri side is better than the Kansas side when we are talking about within the city limits of Kansas City. But Kansas City, MO has the really depressing area of US 71 Hwy over to I-435. That market is flooded. Waldo, red hot. I put out a sign on the 23rd. So far I’ve had six showings and several have taken applications. Phone calls top thirty. Another investor I know over in Waldo rented his place in less than two weeks. Another in less than a week. Over by the Bannister Mall area (what will we call that now?) I have an investor with only one vacancy in about eight rental homes. 
I spent Saturday looking at lofts in downtown Kansas City. Not as investment property but as corporate housing. See, there is a Chicago based business with a branch here in Kansas City that is spending too much on hotel bills. So why not go ahead and buy a loft?
The investment for this corporation makes complete sense. They are paying cash. They would otherwise continue to drop at least the same amount of money on hotel bills. And since this is a well established company with a well established presence in Kansas City they will own this property for years and years and years.
BBQ Capital | Kansas City Real Estate Investing 