BBQ Capital | Kansas City Real Estate Investing | Real estate investing and property management in Kansas City.

April 17, 2009 · 1:01 pm

Does Your Real Estate Agent Understand Their Duties?

legal-real-estate-issues Agency. It means something a little different in all fifty states. Here in the Kansas City real estate market we that have licenses in both Kansas and Missouri have to keep straight the differing rules and regulations regarding real estate agents and their various forms of agency.

This post isn’t about explaining the various forms of agency. Though that would be a great series of blogs. Nor is it to discuss the differences between Kansas and Missouri. Again, another series of blogs that may be worth pursuing. But this blog post is to point you towards a Kansas City Star article regading real estate agents with Block & Co (a commercial real estate brokerage here in Kansas City) that apparently failed to meet their fiduciary duty towards their seller clients.

Now, I’m not privy to all the facts. And I am of the belief that a jury would almost always rather side with a seller or buyer than an evil, rich real estate firm. But when a jury only deliberates for an hour that speaks to pretty strong evidence. Read the story. Then think about who you want to represent you in your next real estate transaction. Would you prefer a seasoned professional, a part-timer with little experience or even worse, yourself?

What amazes me is that commercial agents wouldn’t realize the seriousness of signing an agreement that says you would qualify buyers before allowing them to offer. I’m curious as to what kind of background/financial check they conducted.

(Editorial note: There are a very few of you out there that are/would be qualified to represent yourself. You need not comment unless you really feel compelled. But most people are better off using a professional real estate agent. Be that me or someone else.)

Rental Property Update For Waldo

The Waldo neighborhood of Kansas City is seeing some pretty darned good activity right now on rental property. I know of two different units that went up for rent about or less than 30 days ago. One has a tenant already in it and one received a deposit last evening. che-pi

As I’ve already told you a couple weeks back I’m seeing a lack of inventory that is ripe for cherry picking. There are homes to be had. But the “deals” everyone dreams of when watching their local news are just not there. While it is certainly not a seller’s market in Waldo neither is it a buyer’s market. If the inventory is priced according to it’s condition it will sell quickly. Same goes for the rental possibilities.

Waldo is a section of Kansas City that I just love for rental properties. If you are looking for an investment property it’s a great place to start. I also I have my eye on a place up in the East Plaza area.

5 Comments

Filed under Investment Property, Kansas City neighborhoods

April 12, 2009 · 5:56 pm

Are You Going To Finish Strong?

Back To Blogging

Sorry I’ve been away this last week plus. Here are my list of excuses;

The NCAA Tournament held it’s Sweet 16 (as far as my beloved Jayhawks made it) through Championship Game and those that are regular readers know I worship college basketball.
I celebrated my 44th birthday with my family. In my mind I just graduated high school…
Getting ready for Missouri audit. Looking and re-checking each and every document over the past 12 months to be sure each box is checked. For every mistake they can find both property management wise and real estate wise it’s about a $250 fine. That adds up.
Just needed a writing respite.

But sadly for you I’m back!

Here is a little blurb from the Kansas City Star that is telling…

Retail and recreational development in Wyandotte County has helped raise the average weekly wage in the county 7.5 percent, the seventh-largest increase among 335 large U.S. counties. The U.S. Bureau of Labor Statistics reported Wednesday on increases from the third quarter of 2007 to the third quarter of 2008. The average wage rose 4 percent in Johnson County and 3 percent in Jackson County. It dropped 1.7 percent in Clay County. Those counties average weekly wages: $867 in Johnson; $830 in Wyandotte; $851 in Jackson, and $765 in Clay.

Taxes and Your Rental Properties

depreciation-surprise Okay. This is not going to be a long post. I just wanted you to know that I picked up my taxes from my “tax guy” yesterday and had a pleasant surprise. And a big part of that surprise was the rental property factor. It can be like “found money.”

Depreciation is your friend when you own investment property. I have written about Depreciation and Your Rental Property before and everything I have to say about it can be found at that link.

Let’s say this one more time:

“There are 4 basic benefits to owning investment property.”

Cash Flow Before Taxes
Principal Reduction
Tax Benefits (Depreciation included)
Appreciation

Just go to the categories section on the right side of this real estate investing blog and you can look up the tag: 4 Benefits of Real Estate Investing. You can read those links and you’ll learn what you need to learn.

3 Comments

Filed under 4 Benefits of Real Estate Investing, Real Estate Investing

March 26, 2009 · 9:00 am

If I Were A First Time Home Buyer….

…I’d be looking right now.

$8,000 tax credit that does NOT have to be paid back.
Unbelievable interest rates.
FHA means as little as 3.5% investment by you.

Yes. I’m a realtor. Yes. I sell houses. Yes. I work a lot with real estate investors. AND YES. Now really may be the best time to buy for first time home buyers in the Kansas City area. I’m not kidding or shilling.

3 Comments

Filed under Kansas City Real Estate

March 24, 2009 · 11:30 am

Real Estate Investor Financing

While catching up in my feedreader this morning I came across the title Fannie Mae 10% Down For Real Estate Investors. This was published on Scott Ficek’s Minnesota Investment Property Blog. (I just want to give credit where credit is due since none of my lenders gave me a head’s up…for Pete’s sake.) Anywho, you can read up more about this at the Investment Mortgage Guy’s website. Thanks for the heads up, guys.

2 Comments

Filed under Financing Options, Real Estate Investing