I have spoken by phone or email with six different would-be or current real estate investors for the Kansas City real estate market. Here are some things to think about that run current to all;
- Watch your money. Today you will need a minimum of 25% down for multi-family homes and usually 20% down for single family homes.
- Watch your money. After you have enough for the down payment, closing costs, etc make sure you leave money for repairs, a start-up business account and an Emergency Fund of some size. (Individual counseling probably necessary here.)
- Watch your money. Use market fundamentals when determining current worth and projected income/expenses.
- Watch your location. Location. Location. Location.