Category Archives: Misc. Real Estate

KW MAPS Coaching

So here is a fun fact; I am now a KW MAPS Coach.

Kansas city real estate investing

In addition to my duties as Broker/Owner of Ad Astra Realty, Inc ( a Kansas City property management company) I am also the Team Leader of Keller Williams Realty, Diamond Partners, Inc of Olathe, Kansas.  Those two positions are not new and many of you already knew that.

Recently, because of our success at building KW’s Olathe office, MAPS, an agent and leadership coaching company for Keller Williams, asked if I would also coach other Team Leaders for KW around the country. Sounded like fun, so here I am.

Real estate has been a very good business for me.  I want to thank all those who have provided this opportunity to me.  My thankfulness starts with each and every client that has entrusted me/us over the years to help them with their buying, selling and/or investment real estate needs here in the Greater Kansas City area.  My thankfulness also extends to;

  • My wife and family for all the time missed
  • Randy Lindemuth, my first broker at Scott Douglas Realty down in Tulsa
  • The staff, past and present, of Ad Astra Realty
  • Larry Kueser who offered me the position of Team Leader at KW
  • Dianna Kokoszka for offering the position of MAPS Coach to me
  • Mike Bastian for modeling what a coach can do for a real estate agent and team leader

There are so, so many people to thank.  We still stand ready to help you with any of your real estate investing needs here in Kansas City. We offer accountability, honesty and a sincere effort and professionalism to help you with your “Retirement worth having.”

Thank you everyone for everything you’ve done.  Ya’ll rock.

 

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Filed under Kansas City Real Estate, Misc. Real Estate, Personal Real Estate Opinions

Stupid People Say Stupid Things

From a Yahoo! article I read this morning:

“Rather than creating wealth, homes had enabled people to gain cash by refinancing mortgages and live beyond their means until the crisis sent them into bankruptcy.”

You can find the article here:

http://finance.yahoo.com/news/challenge-dogma-owning-home-182926523.html

How can I explain this? If there was money to pull out then the house created wealth.  Just because some home owner decides to spend it on a SUV and a Bahamas Cruise rather than leave it for their future…  Jeez.

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@KCInvestments

No doubt about it.  I’ve known about tweeting since the beginning but I am late to fully adopt it.  But lately, I’ve been liking it more and more.  Feel free to follow me at  @KCInvestments.

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Bank of America Does It Again!

I wish I could tell you, the American tax payer and/or Bank of America shareholder, that this is a unique story in my past…but I cannot.  The following is sadly true and all too common.

A house came on the market for sale in Independence, MO. Yes, it was new and it didn’t have any restrictions barring real estate investors from bidding early.  The asking price?  $45,000.  We offered $40,000 with a 15 day cash close.  BOA stood firm and would only accept $45,000.  We passed.

Fast forward to last Thursday (34 days later) when BOA dropped the price to $39,900 and had the listing agent call us to see if we would re-bid. We did.  This time $35,000.  And it looks like they are going to take it.

So let’s get this straight.  They are going to close the a month+ later for $5,o00 less.  Heck of a business decision, wouldn’t you say?

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Just Asking

Our property management services have been keeping us quite busy of late.  Kind of the rush before the cold, if you know what I mean.  So sorry we haven’t been posting much.  But here are some random thoughts….

  • Where are all the cash buyers coming from these last few months?  And will they stay in the market over the holidays?
  • If a tenant has $60 worth of beer in the fridge, $120 worth of liquor on the counter top, $70 worth of cigarette cartons on the dining room table and premium cable ($150/mo anyone?) on the tube, how can they actually say they don’t have any money for rent?
  • Will Mizzou be able to cheat enough to compete in the SEC if they choose to leave?
  • There are four ways you make money when you own investment property.  Can you name them?

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Weed Growing Like…Well, Weed

You never know what you will find when you buy bank owned homes and then go to renovate them.  Here is a strange growth that sits just outside the mower’s reach.  How should I eradicate it?

Acting as this property’s property manager, it might be best if I get rid of it before the next prospective tenant drops by.  🙂  Otherwise, I’ll have an army of nacho eating teen-somethings int he backyard every time I go over.

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HUD Home Buying: A Pre-View of Nationalized Health Care?

I’m trying to help two clients buy a total of four HUD owned homes right now.  Three of the homes are significantly out of contract.  One by over 90 days.  Why?  Because HUD and their contractor, Luna & Luna, simply cannot perform.  I have over 85 documented and un-returned phone calls to Luna & Luna and over an inch of un-returned emails.

Now that’s over the course of these last 60 days.  Seriously, how hard is it for someone at Luna & Luna to be put in charge of just communications?  HUD has to be aware because I’m constantly calling and whining to the three asset managers, HomeTelos, Pemco and Matt Martin Real Estate.  And yet HUD continues to allow this.

I’m trying to help HUD liquidate it’s assets.  Give them money.  Retire their inventory.   And this is how we are treated.  With stone silence.

What would happen if I needed a kidney or some money from them?

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