Trying to gain some Wichita knowledge
Hello, my wife and I invest here in Denver and in KC, MO. We'd like to take a deeper dive into the Wichita, Kansas area to get some understanding of what folks like and dislike about investing there. From a cursory look it seems fairly flat as far as appreciation (which does not scare us away) but not too shabby as far as price vs rent. We were thinking of starting with looking duplexes to fourplexes to get an understanding of what's available. Any comments or insight is appreciated. Thank you!
Look for comps on rents in that area to see if it will be profitable to buy properties. If you are looking to buy 2 or 3 bedroom properties. Look to see what 2 and 3 bedroom apartments and other properties rent for. You can look at apartments.com and zillow for that data. https://www.apartments.com/kansas-city-mo/
Chris, I'm your neighbor in Arvada and been in the Wichita market since 2018. Feel free to reachout
@Chris Billington Its a fine market but I don't think it will appreciate as fast as KC and not as fast as denver. In other words, need more patience with your investment.
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Real Estate Agent Kansas (#00245860) and Missouri (#2019043249)
- http://www.xchangecre.com
Quote from @Dustin Burke:
Chris, I'm your neighbor in Arvada and been in the Wichita market since 2018. Feel free to reachout
Great to know Dustin! Send you a message
Quote from @Alex Olson:
@Chris Billington Its a fine market but I don't think it will appreciate as fast as KC and not as fast as denver. In other words, need more patience with your investment.
Thanks Alex! Confirms what I'm reading.
Quote from @Kenneth Germann:Thank you Kenneth!
Look for comps on rents in that area to see if it will be profitable to buy properties. If you are looking to buy 2 or 3 bedroom properties. Look to see what 2 and 3 bedroom apartments and other properties rent for. You can look at apartments.com and zillow for that data. https://www.apartments.com/kansas-city-mo/
Morning Chris!
I'm an investor and agent/auctioneer in the Wichita Area. Prices have definitely gone up in the past couple of years like everywhere else. but not like KC or Denver as someone mentioned.
You can still find the 1% rule and a little better off market at times. There are pretty good areas and some pretty terrible on paper look good areas.
Let me know if you want to talk further. We do auctions as well so always looking for off market/deals.
Quote from @Daniel Gutierrez:
Morning Chris!
I'm an investor and agent/auctioneer in the Wichita Area. Prices have definitely gone up in the past couple of years like everywhere else. but not like KC or Denver as someone mentioned.
You can still find the 1% rule and a little better off market at times. There are pretty good areas and some pretty terrible on paper look good areas.
Let me know if you want to talk further. We do auctions as well so always looking for off market/deals.
Wow, haven’t seen 1% in Atlanta since 2015. I noticed Kansas is one of a handful of states that don't permit the sale prices of homes to be publicly disclosed. I was considering looking for a property as an Airbnb in Delano or College Hill and noticed no sold home prices in Zillow/Trulia/Realtor.com or even Sedgwick County site.
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Real Estate Agent GA (#269676)
- HausZwei Homes
Quote from @Kevin Polite:
Quote from @Daniel Gutierrez:
Morning Chris!
I'm an investor and agent/auctioneer in the Wichita Area. Prices have definitely gone up in the past couple of years like everywhere else. but not like KC or Denver as someone mentioned.
You can still find the 1% rule and a little better off market at times. There are pretty good areas and some pretty terrible on paper look good areas.
Let me know if you want to talk further. We do auctions as well so always looking for off market/deals.Wow, haven’t seen 1% in Atlanta since 2015. I noticed Kansas is one of a handful of states that don't permit the sale prices of homes to be publicly disclosed. I was considering looking for a property as an Airbnb in Delano or College Hill and noticed no sold home prices in Zillow/Trulia/Realtor.com or even Sedgwick County site.
that is correct, we are nondisclosure so its not publicly available.
Happy to send you comps if you need any or want to see where things end up. We are working on a rehab in delano at the moment to do an MTR. Its definitely a good area. College hill is very competitive.