Kim Tucker is the co-founder of the Kansas City REIA and the Mid-America Association of Real Estate Investors. She is one of the most influential people in the real estate space in Kansas and she is with us today to talk about her journey, the mistakes she made, and the lessons she learned along the way.
Listen now to learn more about Kim, how real estate investing has been for her, and what advice she has for investors today!
Key Talking Points of the Episode
00:00 Introduction
01:45 Why did Kim decide to co-found their own REIA?
03:10 What attracted Kim to real estate?
04:28 What kind of strategies did Kim use when they started investing?
06:45 What was Kim’s time as a landlord like?
09:19 What mistake led Kim to becoming an accidental landlord?
10:30 Why is it important to have the right systems in place for your rentals?
11:52 Why do you need to track service tickets in your rental properties?
13:38 What issues are we facing in the real estate space today?
15:18 What can we do to help protect the community from these issues?
16:19 Why is it important to be aware of what’s happening in your local market?
19:55 What was it like in Kansas City during COVID?
22:10 What part of Kim’s events does she love the most?
23:52 What is the best way to make the most out of a REIA meeting?
26:46 What is the best way to find funding for your deals?
27:55 What are the benefits of doing virtual REIA meetings?
29:18 What is the market like for buying and selling today?
33:02 What is one of Kim’s biggest mistakes in her real estate investing career?
35:25 How can people start investing passively today?
36:22 Why should people start investing in real estate earlier in life?38:01 Who would Kim want to take a long walk with?
Quotables
“We were doing the deal to do a deal and I don’t recommend doing that.”
“I highly recommend if you’re gonna manage yourself, to invest in systems. Learn systems, have somebody help you get them set up so you don’t have anything falling through the cracks.”
“Try to focus on creating more affordable housing, but be aware that rent control could come down at any time, so make sure you’re not under market on your rents.”
“Just like we say only 5% of the landlords are bad and they’re making all these rules and regulations for everybody for 5% of the landlords, only 5% of the tenants are causing issues.”
“Even if you know, you might be an expert on whatever it is the speaker is teaching, you’ll still get something out of it.”
“I found that bragging about your deals is the best way to find money. Just let people know what you do.”
