New Kansas City Investor (Out of State)

[Gabriel Smith]

Hey BP investors! My name is Gabriel Smith. I live and work in the Bay Area, but have read a lot about Kansas City's growth and ability to cash flow on properties and I would love to start networking with people who invest there. My goal is to start with a small multi-family property. Any advise or connections to the area would be appreciated!

[Mike D'Arrigo]

@Gabriel Smith  I'm from San Jose also and have been active in Kansas City for several years. KC is a great cash flow market. so you're wise to be looking at it. My biggest piece of advice for an out of state investor is to know the neighborhoods and buy in the right area. That's the biggest mistake an OOS investor can make. You fix other mistakes but you can't move a property from a bad location. The next most critical thing is to work with an excellent property manager who you can trust. All of this is even more important with multi family. Often times, MF units are in the rougher areas of the city and can have more tenant challenges. Inventory is very tight in KC and even tighter for MF. You may have some trouble finding a good property so don't get impatient and lower your criteria. Stick to the better areas which is generally not in the urban core. I'm always happy to share my perspective on some areas that are good and those to avoid.