Kansas City & Tulsa Buy and Hold Properties

Kansas City & Tulsa Buy and Hold Properties

Sherman Oaks, CA · Member since 2015 · 9 posts · 7 votes

Hi All, my Investment partners and I are gearing up purchase an out of state single family buy & hold within the next 4-6 months. We plan on purchasing more properties yearly and have a long term plan in place.   

We've whittled our list of potential cities down to Tulsa, OK & Kansas City. Since they are only about 4 hour drive apart we'll be making a visit to both soon to help us decide.

Tulsa was picked for straight cashflow purposes. Our thinking is to get a few high cashflow places to start to help us put get more properties sooner and then transition to better potential appreciation markets like KC. Or maybe we should skip Tulsa altogether and start in KC since the cashflow is still good there but a little less. We're still crunching these numbers but any advice would be appreciated. 

We're coming to a point where we'd like to talk to people who have actually invested or know the area well for either Tulsa or KC. Also, to people who have invested from out of state did you go with a Turn Key company? Do you have recommendations? It doesn't look like Tulsa has any turn key properties, unfortunately.

I'd like to get a dialogue going with anyone who is interested. 

Thanks!

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Curtis YoderPro Member
Rental Property Investor · Tulsa, OK · Member since 2014 · 241 posts · 187 votes
10y

We do manage our properties ourselves. It was a challenge to keep up as we began to grow but we are on top of it now. We have started using Buildium for the management side and subcontracting out the majority of the work rather than handling in house. As a contractor I really like to get my hands dirty sometimes. This typically costs me TIME... which is the root of all evil with rentals! I have a great realtor that I will be glad to share, PM me. As to the Property Manager I really don't have anyone to recommend.

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  • Real Estate Services · Olathe, KS · Member since 2015 · 329 posts · 57 votes
    10y

    I'm in KC.  I have many connections message me anytime

    Jason 

  • Curtis YoderPro Member
    Rental Property Investor · Tulsa, OK · Member since 2014 · 241 posts · 187 votes
    10y

    @Jacob Tomko Definitely go to KC... lol. Seriously, I have quite a few SFH's in Tulsa and the cashflow is decent. The appreciation is lagging many other markets and I believe it always will. So you simply have to look at your deals and decide if the cashflow or appreciation is more important. I personally plan on retiring in Tulsa, my hometown. So good cashflow and slow appreciation works for me. With smaller industry here in Tulsa it is more difficult to flip properties for top dollar than in more robust cities.

    Plan your work and work your plan! Good luck to you and feel free to PM me if you would like a more in depth conversation.

  • Chris DawsonPro Member
    Real Estate Broker / General Contractor / Property Manager · Kansas City, MO · Member since 2010 · 395 posts · 425 votes
    10y

    @Jacob Tomko I'd be happy to help educate you on the Kansas City market.  I've been investing in Kansas City since 2004 and I have been helping others invest in Kansas City since 2008.  Shoot me a PM and we can discuss more.

  • Sherman Oaks, CA · Member since 2015 · 9 posts · 7 votes
    10y

    ...

  • Sherman Oaks, CA · Member since 2015 · 9 posts · 7 votes
    10y

    Sorry for the dupe post above. I screwed up linking the name properly so here we go again...

    @Curtis Yoder Thanks for the advice Curtis. With our first one or two properties we plan on playing it pretty safe so we're not concerned at the moment about full on 'flipping' houses beyond minor rehab but rather straight cash flow to get our feet wet and avoid any big mistakes right away.

    Tulsa feels like the immediate safer bet for this process. Do you manage your Tulsa properties yourself or do you hire out? Have any PM or realtor recommendations?

  • Curtis YoderPro Member
    Rental Property Investor · Tulsa, OK · Member since 2014 · 241 posts · 187 votes
    10y

    We do manage our properties ourselves. It was a challenge to keep up as we began to grow but we are on top of it now. We have started using Buildium for the management side and subcontracting out the majority of the work rather than handling in house. As a contractor I really like to get my hands dirty sometimes. This typically costs me TIME... which is the root of all evil with rentals! I have a great realtor that I will be glad to share, PM me. As to the Property Manager I really don't have anyone to recommend.

  • Investor · Kingston, WA · Member since 2008 · 1k+ posts · 1k+ votes
    10y

    Hi @Jacob Tomko I have an off market 3/2 REO in Tulsa available. If interested please PM me for details, thanks.

    Bob Malecki

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