Investing in Kansas City, MO
I have yet to land my first 'buy and hold' all cash deal and I am looking at Kansas City, MO as an investment option. I am from Southern California and can't really buy here for obvious reasons.
Based on the research I had done so far, Kansas City is looking like a good market to invest in. Growing population, low unemployment rates, good school districts, low crime rates, etc.
My questions are:
1. What are your thoughts on the housing market in Kansas City and its viability for a buy and hold investment strategy?
2. What zip codes would you advise that I avoid in Kansas City?
Thank you so much!
Ayad
Most Popular Reply
@Ejy Mirjan, your decision to invest in KC is very solid. I lived in San Diego for 10 years and found nothing that cash flowed... or the IRR was so thin it wasn't worth the heavy investment.
While I was in San Diego 8 years ago, I bought 2 properties in Huntsville, AL and still hold one of them. However, I "traded in" one of those properties, reinvested in KC, and tripled my cash flow.
@Account Closed's advice I agree with in terms of targeting, although I tend to migrate towards B-grade properties as long as I buy very low and do my own rehab. Otherwise, his strategy and advice are wise.
@Andrew Syrios is another very successful investor you may want to touch base with. His family started in Oregon and they have done literally hundreds of buy-and-hold deals here in KC which they refer to as "Ground Zero" for buy-and-hold residential real estate. Look up his blogs here on BP.
Good luck!