Investor/Hard money lender · Scottsdale, AZ · Member since 2014 · 60 posts · 13 votes
I am strongly considering purchasing in Kansas city. I live in Phoenix, Arizona. Does anyone have any feedback or experience that they can share with regard to Kansas city rentals?
Real Estate Broker / General Contractor / Property Manager · Kansas City, MO · Member since 2010 · 395 posts · 425 votes
10y
@Austin Muck your question is very broad as a "more desirable area to renters" is a relative term with lots of variables. For example, if you are wanting section 8 renters, then you will be looking in a different area then if you want single professionals, or say, elderly tenants.
I think what you are asking, is where should you be looking to get the best cash flow without being in the worst parts of the city. If this is what you are asking, then your assessment is correct. The $50k-$100k range is the sweet spot in Kansas City for the best cash flow outside of the inner city. A good, general rule, is to avoid any house in the KC, MO school district. Another general rule is to stay outside of the I435 loop when you are looking south of the river. Raytown, Independence, Grandview, Blue Springs, Raymore are all good areas to look into. Anything north of the river is also usually a good area.
Feel free to reach out to me if you need more help.
Real Estate Broker / General Contractor / Property Manager · Kansas City, MO · Member since 2010 · 395 posts · 425 votes
10y
@Austin Muck your question is very broad as a "more desirable area to renters" is a relative term with lots of variables. For example, if you are wanting section 8 renters, then you will be looking in a different area then if you want single professionals, or say, elderly tenants.
I think what you are asking, is where should you be looking to get the best cash flow without being in the worst parts of the city. If this is what you are asking, then your assessment is correct. The $50k-$100k range is the sweet spot in Kansas City for the best cash flow outside of the inner city. A good, general rule, is to avoid any house in the KC, MO school district. Another general rule is to stay outside of the I435 loop when you are looking south of the river. Raytown, Independence, Grandview, Blue Springs, Raymore are all good areas to look into. Anything north of the river is also usually a good area.
Feel free to reach out to me if you need more help.
Flipper/Rehabber · Kansas City, MO · Member since 2015 · 56 posts · 17 votes
10y
Kansas City is a great market and it is consistently on the rise. We have had several investors from out of state come to us recently and purchase properties. When investing in any city you need to know the market or just people that do. Our company wants to build that trust with every client. We want to make sure that any investor finds what they are looking for so they can cash flow with great success. Even if we do not have what you are looking for we still like to help you know the area. Please let us know how we can help.
Investor · Atchison, KS · Member since 2015 · 46 posts · 6 votes
10y
Hi all... I'm a total new person! I'm sort of an out of Town guy. I have a house in Lawrence that gets my attention on average 30 days a year. I have a SFH rented in Atchison. I just purchased a second there. I like KC for the idea of making it work. Would love info about things near the new corner or legends areas. My problem comes in getting the financing and proving the cash flow... Remember I'm new. I have a moderate D/I ratio and great credit with a good job.... After paying cash for houses in Atchison and repairs..,, I can't figure out how to jump in to 50-70k houses in the above listed areas when that price point is auction foreclosures with cash sales.
Whole Saler · Kansas City, KS · Member since 2015 · 54 posts · 11 votes
10y
Hi Austin Muck, welcome to BP, I'm a wholesaler here in the Kansas City area. If you need any help feel free to contact me with any concerns you may have.
Shawnee Mission, KS · Member since 2015 · 14 posts · 2 votes
10y
@Austin Muck, welcome too BP. I'd say Chris Dawson is spot-on with location breakdown. Feel free to contact me if you have questions, I'm happy to help!
Hi all... I'm a total new person! I'm sort of an out of Town guy. I have a house in Lawrence that gets my attention on average 30 days a year. I have a SFH rented in Atchison. I just purchased a second there. I like KC for the idea of making it work. Would love info about things near the new corner or legends areas. My problem comes in getting the financing and proving the cash flow... Remember I'm new. I have a moderate D/I ratio and great credit with a good job.... After paying cash for houses in Atchison and repairs..,, I can't figure out how to jump in to 50-70k houses in the above listed areas when that price point is auction foreclosures with cash sales.
Jonathan, it sounds like you're already off to a great start, so first of all - Congrats! Secondly, it sounds like you are in good shape with equity and credit. There are lots of good resources on here to help you learn the ropes.
There are great opportunities, you just need to find a good network of wholesalers and/or brokers to help find the properties with the right numbers for you.
Feel free to reach out to me with questions. I'm always happy to help!
Brooklyn, NY · Member since 2017 · 18 posts · 4 votes
9y
@Chris Dawson Thanks for your breakdown! I'm also interested in Kansas City. It would be my first real estate investment deal if I pull the trigger.
I'm very curious to know your opinion on how the Kansas City real estate market has changed since you made this post about a year ago. In addition, I'm curious to know how the Kansas City market has changed in regards to the best and worst places to invest.
Brooklyn, NY · Member since 2017 · 18 posts · 4 votes
9y
@Tyler Caruso Hey Tyler, two years later, are you still seeing deals like this where you can buy between 50k and 65k and rent out for 800-900? If so, what zip codes do you recommend people to check out today? I'm planning on taking a trip to KS in the next month or so to look at making my first real estate deal. Would love to hear your opinion! Congrats on your success!
Rental Property Investor · San Marcos, CA · Member since 2014 · 58 posts · 29 votes
9y
Those days are past. You can find those ratios in areas I wouldn't invest in. It's more like 70 to 90k all in with 1000 to 1100 rents. I buy in Raytown, certain areas of Independence, Belton, and Blue Springs. Good luck.
Rental Property Investor · Prairie Village, KS · Member since 2015 · 2k+ posts · 2k+ votes
9y
There is a lot of TK inventory in that area. It's okay, a bit depressed in my view. I drove around that area a few weeks ago driving for dollars/checking it out. It's okay, nothing special. I wonder if there would be a lot of vacancy because there is a lot of rental inventory. I'm no expert on that specific market, just an observation. After driving around the area I was less interested in it!
Flipper/Rehabber · Gower, MO · Member since 2015 · 96 posts · 31 votes
9y
@Lee Warren There are still a few deals to be had in 64134, and I expect the rents will be going up as the Trails Campus gets into full swing. Average rent in the area is $700-$750 depending on 2-3 bedroom. Not too much inventory under $100,000, and with 16,000 jobs moving there shortly I think these homes will be appreciating.
I would like to know who've you selected for a property manager. We are just starting out investing in the KC area and compiling a list to start vetting and interviewing. PM me if you'd be willing to discuss. Thank you,
Investor · Santa Cruz, CA · Member since 2017 · 61 posts · 50 votes
8y
Just bought in KCMO and I'm looking for PM referrals as well. I have a few minor repairs I like to complete right after closing that I need a good property manager to take the lead on as I live in CA.