As a resident of Cunningham Heights, I like to keep my neighbors informed about real estate in the neighborhood. My wife and I bought a fixer-upper on Hardy Street in June of 2013 and moved in shortly thereafter. There’s a very neighborly feel here, and it’s a great, centrally-located neighborhood. Upon our arrival, the neighbors all greeted …
What is Market Value (Cost) When purchasing a home in Kansas City, it’s important to understand the difference between cost and value in real estate. In other words, the “FOR SALE” price doesn’t determine market value. The best way to illustrate my point is with an example like this: Which buyer got the better deal? It depends. To answer …
The Bureau of Labor Statics says that Americans across all income levels spend between 25-30% of their income on housing. That’s a massive portion of your income, no matter who you are. What if you were able to invest that money instead, or take an extra vacation each year? It’s actually possible. It requires a …
Have you ever thought about investing in real estate? Many people who have watched house flipping shows on TV might think it’s a quick way to get rich. While I’m a huge fan of real estate investing, unlike the tv shows, this isn’t a great way to “Get Rich Quick”. Further, flipping houses, in my …
Getting Started in Real Estate: Why Waiting Isn’t the Best Option When you think about the Kansas City Royals, it’s easy to imagine the team wanting to hit home runs to win games. But if the Royals only relied on home runs, they wouldn’t be very successful. While home runs are exciting, they are not …
In the world of real estate, the term “as-is” can mean different things to different people. When buying real estate, you might think “as-is” equates buying to some dilapidated money pit. When selling real estate, you might think “as-is” means you’re able to pass on your problems to the next person without any repercussions. However, …
What questions do you have about real estate? More importantly, what questions have you never thought to ask? Famous jazz composer and trumpeter Miles Davis once said “Don’t play what’s there, play what’s not there.” There are a couple ways you could interpret what he said. 1. Micro Level: Musicians have to know what belongs and what …
In real estate school, they taught us to determine a property’s value using price per square foot (PPSF). Essentially, dividing the average sale price for a neighborhood by the average square footage to determine an average PPSF. Multiply your PPSF by the house’s square footage to determine it’s value. It’s simple enough way to value …
In the age of the internet, it’s very easy to have information overload. That’s definitely true in real estate. There are over 800 single family homes for sale in Johnson County right now; 211 in Overland Park alone. Inventory is relatively low, but that’s still a lot of houses. So, it’s very easy to spend hours and hours …
Welcome to this 4-part series on building wealth through real estate investment! In this series, we’ll explore the four key ways rental properties can help you grow your wealth: cash flow, debt paydown, appreciation, and tax benefits. When done correctly, real estate is a powerful tool for diversifying your retirement portfolio. Plus, with four distinct …