KC REI, Rants, Thank You’s and Stuff

– I’m dealing with a closing snafu to top all closing snafus.  I was fully prepared for a “situation” on the closing of this Overland Park investment property.  And I covered all the angles. Followed up.  Checked in regularly with the selling agent for my buyers.  And still the closing cratered because of a wild card that I simply cannot control.  When I have a couple days distance behind me I’ll write about the details for you.  Because right now all my adjectives and descriptions are unprintable for a family blog.  And man, do I feel for the buyers

– Many of you may have figured out that I’m a sports fan.  Specifically, I love my Kansas Jayhawk basketball.  What a year the University of Kansas has had.  Won the Orange Bowl.  Won the NCAA tournament and brought to the Kansas City area the first national championship this city has seen since the Kansas City Wizards won the MLS Cup in 2000.  But for those of you that don’t consider soccer a sport you have to go all the way back to 1988 for the previous championship which again was the KU Jayhawk basketball team.  Hey Kansas City Royals and Kansas City Chiefs, it might be nice if you could contribute a little, too. 

– I’m flabbergasted at the lack of quality investment property available right this minute in Johnson County, Kansas.  There are a total of 36 duplexes currently on the market and only two have any hope of getting my “thumbs up” at this time.  Dear Sellers, from what I’ve seen your investment properties are over-priced and under cared-for.  Why should buyers pay top dollar for a property with shaky tenants, 22 year old roofs, furnaces leaking carbon monoxide and  enough wood rot to keep a carpenter busy for a week?

– Just because Johnson County investment property sellers seem to be a little delusional doesn’t mean there aren’t quality buys around the Kansas City area.  I’m still very bullish on the Blue Springs & Raymore/Belton areas over in Missouri. 

– Yesterday was my birthday.  Any guesses as to how old?

– For you Wyandotte County/Kansas City, Kansas real estate investors I may have a property coming up that you will be interested in.  Probably priced around $125,000 with rents at $675/side.  This duplex is a three bedroom, two bath and one car garage.  I know the property manager well (he referred me to the seller) and I can put you in touch with him for the rental history…when the time comes.  Drop me an email if that sounds interesting.

Dear WordPress, not impressed with your recent changes. No spellcheck.  Your new way of adding photos is cumbersome and doesn’t work about 75% of the time which is why there are none for this post.  And working out bugs before rolling out a new version of the editor would have been swell.   Sorry readers. 

– A special “thank you” needs to go out to all our readers.  The readership of BBQ Capital : Kansas City Real Estate Investing keeps going up and up.  It is both humbling and exciting.  Always feel free to leave comments and I really encourage you to send me topics of which you’d like to see covered.  After all, this blog is not only for me, it’s for you!

2 Comments

Filed under Investment Property, Kansas City, Kansas City Sports, Misc. Real Estate, Personal Real Estate Opinions

2 responses to “KC REI, Rants, Thank You’s and Stuff

  1. Brian

    Chris,

    Believe it or not, I was relieved to read your short rant on JoCo investment properties. I had started suspecting that I was crazy! I’d looked at a number of properties and passed on them with the thought, “man, that just doesn’t look like a good deal.” I had begun to suspect that my lack of experience was preventing me from seeing a deal right in front of my eyes.

    B.

  2. There is a saying in the real estate biz that says

    “If you are really proud of your properties you get to keep them!”

    Look at the days on market for JoCo duplexes versus other areas.

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