Rental Property #16 in Kansas City (Belton)

2 Replies

#16 is a Duplex, the second Duplex in the Collection, along with #5.  This duplex is located in Belton, MO on a quiet street with mix of duplexes and SFRs.

My price was $79,000 and the units will rent for $750 each with rehab or $650 as-is.  The mechanicals and roof are solid but does need cosmetic update which will run about $5k per side.  Taxes $1100 annual.  The units are large two 'regulation' bedrooms with a third bedroom downstairs with window not large enough to quality for egress.  Two living areas and 1.5 baths with large master bedroom including walk-in closet.  My other smaller duplex in Grandview is one of my best performing properties and I am inclined to by more multifamily now.

Other Updates:  Rehab on #14 and #15 nearing completion they will both be rent-ready in another week or so.  Those were cash buys and I'll start the loan paperwork soon to cash-out, hope to recover 90+% of the cash.  

#4 with my inherited tenant turned out to be a bad deal for me, had to file for eviction, got a judgement on friday for possession.  My attorney found that this person has been sued for UD no less than four other times in Jackson county.  

Since I am buying in Missouri, I also decided to set up a set of Missouri LLCs so I can hold a few properties in each LLC, with my Kansas LLC as the owner of all the LLCs.

I have #17 under option contract with a wholesaler, in one of my favorite neighborhoods off Red Bridge Road.

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