Kansas City, MO $1 house sale

[Jan Pauley]

Has anyone participated in the $1 condemned house sale program offered by the city of Kansas City Missouri?

[Steve Ipock]

@Mark Alexander

I checked into this to see more. My understanding is that as far as time goes you have 90 days to complete the outside & 1 year to complete the entire house. 

Also they removed the occupancy restriction. Investors can buy them for resale. I heard but can't find proof that if an investor buys, repairs it in the time frame & sells the property to an owner occupant that the investor can get an 8500 rebate back on the house.

My confusion is why do they care what you do with it after you fix it up? I mean they say the cost to tear one down is 15k. So the math on that x 230. Kansas City would be millions ahead to let us rent it out or even let it set at our loss as long as it's fixed up.

I think they want to tear them down so eventually they will have nothing but vacant land & they will rebuild the areas with a large developer & turn it around 1 neighborhood at a time but really is anyone in charge at the city that  much foresight? Likely not! 

My point about these houses that's offered is they are worthless. I'm invested heavily in these areas and plan to double the amount of properties I have this year and I won't touch the buck houses.