What you are asking about is a For Sale By Owner sale - there are good and bad sides of doing this. Let's take a look at these points:When selling with no agent:* no agent commissions means more money for you. If a buyer comes with an agent, you will still usually fork up the 3% for his or her commission, even if you are doing all the legwork w/ the lawyers for documentation etc.* You have to make sure you get all the right docs and paperwork for the deal, get a lawyer, which costs some money. If you miss out on something, you can be liable to being sued - or worse, lose your property. Do you even have an idea of what a good attorney charges?* You have to take and field all calls, make appointments, show the property yourself and look at offers * You need to setup the appointments and f... 07/30/2007

REAL ESTATE AUCTION.Saturday August 18th - 10:00am.Property Previews: Sunday Aug. 12th 12 - 1:30pm Wednesday Aug. 15th From 6:00 - 7:30pm 3805 E. 98th Terrace; Kansas City, MO 64137.Click Here For More InfoThis spacious brick home is conveniently located on a large treed lot that backs up to a peaceful and quiet pasture like setting. Enjoy daily visits from a variety of wildlife including deer. This 3 bedroom true ranch boasts large rooms, nice brick patio deck, full basement and much more. This home is ready for an easy interior update. Buy to live in or as an investment, but don't miss the opportunity to own this fabulous home at YOUR price!816-361-2600913-390-9393Mayo Auction & Realty, LLCwww.AuctionByMayo.comYour Premiere Kansas City Real Estate Auction Company 07/29/2007

Once again the monster of landlord licensing raises it ugly head in KC. As a Realtor who works entirely in the investment property sector of our economy I have an in-depth knowledge of this beast. While I do not own or invest in investment property I mange hundreds of rental units, throughout the KC metro area, I also assist investors with purchasing and selling investment property.Kansas City has been toying with this notion for over twenty years. The last attempt by Kay Barnes was put to a vote and soundly defeated. A provision called the Hancock Amendment is one of our greatest allies in this battle. In short any tax increase must be approved by a vote of the people. Landlord licensing is a tax increase!Secondly we have the fourth amendment to the Constitution of the US on our side. ... 07/24/2007

There simply is no place more beautiful or romantic than Kansas City's Country Club Plaza at Christmas.  I've had the good fortune of seeing New York's Rockefeller Center and Washington's National Tree lighting ceremony.But Kansas City's one great contribution to Christmas is The Plaza.  Photos just cannot capture the majesty of the place.  And it's not bad the rest of the year, too.Last evening my wife & I along with our best friends decided we needed an upscale night on the town.  There are plenty of entertainment and dining options in Johnson County, Kansas.  But for romance and a truly world-class experience there is really only one place to go. History & Flavor The Country Club Plaza was first designed in 1922 to be the country's first suburban shopping district.  From the linked w... 07/21/2007

WHERE CAN YOU BUY A POSITIVE CASH FLOWING RENTAL PROPERTY WITH 10-20% EQUITY? KANSAS CITY MISSOURI!   Not only does it have great BBQ, blues, major league sports, museums, NASCAR, and the most fountains than any other city in the U.S., it is an untapped real estate investment market! The time has never been better to jump into the Real Estate Investment waters than now. Due to a heavy inventory of single family homes currently on the market and the overwhelming number of foreclosures available now and more coming every day, Kansas City is fast becoming a GOLDMINE area to buy and hold properties. Where else in the country can you buy a turnkey rental property under $100,000 at 70-80% of market value,  and have a positive cash flow of $300-$400 per month? Sounds too good to be true? Its n... 07/18/2007

I began my real estate career in late May of 2002 with no clue that I would be working primarily with real estate investors before too long.  Like so many inexperienced real estate agents I grabbed a sign and held an open house that first weekend.  The listing belonged to my broker.  The house belonged to a guy named Phil.  I didn't get the house sold that day.  (But I did get it sold about 7 months later.)  And like so many newer agents I didn't have any listings of my own and no buyers to speak of.  My broker, Randy Lindemuth, made me an offer I could not refuse.  "I have this townhouse out in Broken Arrow that I'm not getting much traffic on.  If you want to work under my name, do all the work and advertising and showings and negotiations I'll give you half of my listing fee when  yo... 07/15/2007

Every year we look forward to taking a trip somewhere different and spending time learning, relaxing, making new friends and visiting with old friends. The event each year that allows us to do this is The National Auctioneers Association annual Conference & Show. This year the National Auctioneers Association is holding their annual conference and show in beautiful San Diego California.We are looking forward to spending time in classes that will cover a variety of topics related to the auction industry. Some of the classes that I enjoy the most include selling real estate at auction, benefit and fundraising auctions, technology and specialty auctions. Every year I learn something new that allows me to better serve my clients, and their needs.We are also looking forward to spending time ... 07/14/2007

Real Estate Investing Lessons As many of my more loyal readers know I am a private pilot, though I'm not presently current. And the comparisons between real estate investing and my period of learning to fly are oddly similar. Not in function but in training and application.Each day I wake up, check my emails and go to work. And each day I work with clients who; understand that I have their best interests in mind. aren't sure that I have their best interests in mind. assume I do not have their best interests in mind.  The last two can, frankly, be difficult to work with. Not personality wise but because they never really buy in to the fact that the more money I can help them make the more money I make. It's really that simple. Real estate agents can sell a house, make a few dollars and m... 07/12/2007

 In addition to conducting real estate auctions in Kansas City, we also conduct many fun and exciting specialty auctions from our facility in the heart of Kansas City located at 8253 Wornall Road. The following auction is a good opportunity for both new and experienced coin collectors. Bring the kids and join us for a fun filled auction that will be entertaining and educational.Spectacular Coin Auction.Saturday, July 28th - 10:00 AMGold Coins: California, PCGS Graded PR-69 American Eagle $5 & $25, Liberty $5Silver Rounds: 260 Tri-State Refining .999 Fine Silver 1 Troy Ounce Silver Rounds, 60 South Dakota .999 Silver 1 Troy Ounce Silver Rounds, Many Silver Commemorative Coins from the US and UKMorgan Dollars: 21 Morgans including 2 Carson CityPeace Dollars: 9 Peace including a 1925 MS-65... 07/07/2007

My participation here on active rain has diminished since last week, and for a very good reason.On June 27th at 1:04pm my Wife Aileen gave birth to our first child, Lincoln Robert Mayo. He was 9 pounds and is already ruling the Mayo household.I wanted to share this news and a photo of the new guy with everyone. 07/03/2007

 Kansas City"Kansas City" is a signature song for this town.  Take a moment and read through the lyrics.  And then help me answer the questions the song raises at the bottom of the page.Artist: Wilbert Harrison Lyrics I'm going to Kansas City, Kansas City here I comeI'm going to Kansas City, Kansas City here I comeThey got a crazy way of loving thereAnd I'm gonna get me some.I'll be standing on the cornerOn the corner of Twelfth Street and VineI'm gonna be standing on the cornerOn the corner of Twelfth Street and VineWith my Kansas City babyAnd a bottle of Kansas City wine.Well I might take a trainI might take a plane, but if I have to walkI'm gonna get there just the sameI'm going to Kansas City, Kansas City here I comeThey got a crazy way of loving thereAnd I'm gonna get me some.I'm g... 07/01/2007

This is what Kansas City real estate investors do NOT need.I received this email from KCRAR. That's Kansas City Regional Association of REALTORS. I am in full agreement that we do not want, nor do we need rental licensing in Kansas City, MO for investment property owners and/or their rental properties.Now, I'm not for slum lords, either. So as you read this be sure to understand that most of my clients keep clean and relatively updated units in operation and available to their tenants. There are already measures that could be put in force to make sure tenant living quarters are safe and clean. Use those. And before KCMO decides to go after the landlords, why don't they first go after themselves. I've never seen a more disorganized and incompetent housing authority in all my life as the ... 06/22/2007

We are getting very close to setting a date for our next multi-property real estate auction event in Kansas City.If you are a real estate agent and have a motivated seller with a property located anywhere in the Kansas City metropolitan area, give me a call to discuss how you can help your seller, be a hero, and get paid.This event will be a great opportunity for your seller to get maximum exposure for their property, as well as sell in a timely manner for market value.If you would like additional information as well as advice on how to present this opportunity to your client, please feel free to pick up the phone and call me at your convenience.If you have any questions about buying or selling real estate at auction, please feel free to call me at 816-361-2600. Mayo Auction and Realty,... 06/20/2007

This 10 part series will hopefully help dispel some of the most common myths about real estate auctions that I have encountered as a professional Real Estate Auctioneer. Please visit my Auction Blog to read the other myths.Myth 6 - An Auctioneer needs to be a licensed real estate agent to sell real estate at auction.This is one myth that is quite an eye opener. In the State of Kansas, a real estate license is required to conduct a real estate auction. In the State of Missouri, all you need is $52 and a pulse to be a licensed auctioneer and be able to offer real estate at auction.Other State laws vary, and in fact some States have very strict laws and guidelines, while others do not. It is important to know this if you are interviewing a real estate auction company. Following are a few q... 06/19/2007

This 10 part series will hopefully help dispel some of the most common myths about real estate auctions that I have encountered as a professional Real Estate Auctioneer. Please visit my blog to read the other myths.Myth 5 - The auction company places people in the crowd to bid for the seller. This is one of my biggest pet peeves. It is called shill bidding and it is WRONG!There is no need for this type of activity, and a reputable auction company will not plant bidders in the audience.It is important to read the terms and conditions of the real estate auction to understand what type of bidding is allowed. If a property is being sold 'subject to owner confirmation,' and it is disclosed that the auction company can bid on behalf of the seller up to the reserve amount, then this is perfect... 06/15/2007

Nearly everyday I hear from another West Coast investor. Seems the market is flooded with buyers from the West Coast. Many are looking now at the massive number of foreclosures on the market. While foreclosures offer great opportunity for upside, they come with a vacancy problem, and usually some rehab costs. Vacancy costs money, rehab costs money make sure you factor your vacancy and rehab figures into your investment pro-forma. Now take those figures and compare them to what you would have if you had made an offer on a tenanted home or apartment complex. The foreclosure boom has made selling tenanted properties that much harder. Prices are getting lower and Cap Rates are getting higher. Be sure to check sites like http://www.loopnet.com for other investment opportunities before you co... 06/13/2007

This 10 part series will hopefully help dispel some of the most common myths about real estate auctions that I have encountered as a professional Real Estate Auctioneer. Myth 4 - The only reason people have an auction is because someone died or the seller is in financial distress. There are a number of reasons why people choose to have a real estate auction. in fact some of the most common reasons have little to do with the sellers financial situation or the settlement of an estate.Some of the most common benefits include:1. Negotiations eliminated - Because price is determined with competitive bidding, there is no back and forth negotiating that can sometimes lead to a property not selling after considerable time has been invested.2. Increased property exposure - Auctions require an ag... 06/11/2007

Today was my first visit to the Kansas City Zoo in what has to be at least thirty years.  And I had a great time with my family.  Well, most of them anyway.  You won't find any digital photos of my own here because my digital camera is in Fiji with my oldest son.  But that was a previous post.The reason it's been thirty years between visits has nothing to do with being "zoophobic".  When we lived in DC we would go to the National Zoo about every other year.  What a fantastic zoo that is.  And if you are in Washington, DC you should definitely make time to visit the National Zoo.  After all, your tax dollars are paying for it!To say that I was pleasantly surprised with the changes and updates of the Kansas City Zoo would be an understatement.  Listen, KC will probably never have a world ... 06/10/2007

This 10 part series will hopefully help dispel some of the most common myths about real estate auctions that I have encountered as a professional Real Estate Auctioneer. Myth 3 - I won't get free and clear title on the property or the owner might take the property back from me after buying it. This myth is based on the traditions of court house step type auctions, commonly referred to as sheriff's auctions or tax lien sales. In this scenario the owner has a legal remedy to get their property back called a "redemption period." Each State will have a different time frame for the redemption period.Most auctions conducted by professional real estate auction companies are not these types of auctions, and redemption periods are not part of the terms and conditions.In fact, most public real es... 06/08/2007

This 10 part series will hopefully help dispel some of the most common myths about real estate auctions that I have encountered as a professional Real Estate Auctioneer. Myth 2 - The property is distressed, something must be wrong with it & I won't find out until I buy the Property. It is true that one of the primary reasons a Seller will choose the auction method of marketing, is the benefit of selling the property "as-is," without contingency upon inspections.However, this does not mean that the condition of the property is being hidden from the potential buyers. In fact, a reputable real estate auction company will use disclosure forms and encourage the seller to disclose all known defects or issues with the property.In addition to encouraging full disclosure, a reputable real estate... 06/06/2007