Kansas City
When I first started learning about real estate investing I thought that Lawrence, KS (my college town) was the perfect place for me to invest. I know the area well, I have family living there, and I can afford properties in the area.
Lawrence doesn't seem like a bad place to invest -- I have already identified a few properties that I think could make me a decent cash flow, but I've seen a lot of discussion about Kansas City, MO being a good place to invest on this blog. I decided to look into KC. It looks like there are some great deals there to me, but I'm nervous about investing in an area I don't know as well -- and getting myself into a sketchy area.
Any one out there have advice on where I should go? Any reason KC, MO is better than KC, KS? What about the surrounding areas? If anyone knows anything about Lawrence, that would be great too!
For context -- I live in west LA, and I'm looking to buy a multifamily property that I don't have to do much (if any) work to.
Thanks in advance for your help, BP friends :)
KC is heavily hit. Doesn't mean there isn't a lot of good deals, just means it's a bit saturated at this exact moment.
@Kathryn S. I invest in Topeka and Lawrence and I really like both areas. I am taking a trip to KS the 2nd week in August to look at KC area.
Hi Kathryn,
We have a triplex in Lawrence and we've found it very easy to rent out. It seems hard to find a real bargain in the town - Lawrence seems top heavy with investors. The triplex was our first property (we also own in KC), and we paid market rate for it. Even so, the returns have been solid, as we've literally had no vacancy.
Two things prospective renters have remarked on during showings: 1. There's a shortage of affordable rental housing with a fenced yard for pets in Lawrence and 2. Many of them were appalled at the condition of rental units available in the town.
Might be best to go with an area you know. Good luck!
Originally posted by @Kathryn S.:
When I first started learning about real estate investing I thought that Lawrence, KS (my college town) was the perfect place for me to invest. I know the area well, I have family living there, and I can afford properties in the area.
Lawrence doesn't seem like a bad place to invest -- I have already identified a few properties that I think could make me a decent cash flow, but I've seen a lot of discussion about Kansas City, MO being a good place to invest on this blog. I decided to look into KC. It looks like there are some great deals there to me, but I'm nervous about investing in an area I don't know as well -- and getting myself into a sketchy area.
Any one out there have advice on where I should go? Any reason KC, MO is better than KC, KS? What about the surrounding areas? If anyone knows anything about Lawrence, that would be great too!
For context -- I live in west LA, and I'm looking to buy a multifamily property that I don't have to do much (if any) work to.
Thanks in advance for your help, BP friends :)
From what I am to understand the market is saturated...BUT wholesalers and things of the like can help with that. I actually have access to some off market rental properties in the kansas city area if you are interested drop me a line! Happy Investing.
Hey Kathryn! I'm currently invested in Lawrence and am active in the KC Metro market as well with a few LOI's currently submitted. I focus on MF, 80-200 units. My partner and I have a great team in KC of PM's, lawyers and brokers. Let's connect if you'd like. And we're neighbors! I live in Marina Del Rey.
Hi to Los Angelian Mel Jeffrey as well.
We have homes all over the KC metro - happy to discuss all the different parts of town. Send me a DM.
That being said - I think Lawrence is a great option - especially if you're considering a coliving model.