Determined Kansas City First Time Investor.

22 Replies

Alright So I’m looking to buy soon ( hopefully 1-3 months from this post.)

I’m in no rush at all, just a personal goal to find a deal in that time frame and go for it.

I’ve been looking a lot into Dallas ( I live in California ) but i keep going back in forth simply because I havnt  found a good deal as of yet. 

Currently I’ve been having my interest in Kansas City. What areas in Kansas City would be best for buy and hold?

Looking primarely into MultiFamilies but have no problem with Getting into a Single family and holding that either. It will obviously just come down to the Numbers and the cash flow. 

If you are one, or know any agents that have experience working with investors from the area let’s talk. 

If you’re currently investing in Kansas City, hows it going for you? 

What Area are you investing in? 

In other words I’d like to know the Good, The Bad, And the Ugly of Kansas City. 

Any insight you may have for a first time out of state investor looking into Kansas City

Would be greatly appreciated. 👍

This thread is a little older, but if it was accurate then, it probably still holds up. 

Https://www.biggerpockets.com/forums/48/topics/276800-kansas-city-missouri-zip-codes

@Larry Fried

Hey Larry... My budget for Kansas City stands at 180,000 for either a fixer upper or a turnkey. 

I’m currently looking at a couple turnkey options around the 165,000 range  3 bedroom 2 bath 2,000 square feet. 

I’m thinking I could rent it around 1200+ a month. It’s located north of the river. Similar  properties are renting about 1,400 +. I’m fine with a minimum monthly cash flow of 300 dollars since my strategy for Kansas is simply buy and hold anyways. 

I’m still looking for a good deal on a potential flip though.  Haven’t found one as of yet. 

Originally posted by @Jonathan Hernandez :

@Larry Fried

Hey Larry... My budget for Kansas City stands at 180,000 for either a fixer upper or a turnkey. 

I’m currently looking at a couple turnkey options around the 165,000 range  3 bedroom 2 bath 2,000 square feet. 

I’m thinking I could rent it around 1200+ a month. It’s located north of the river. Similar  properties are renting about 1,400 +. I’m fine with a minimum monthly cash flow of 300 dollars since my strategy for Kansas is simply buy and hold anyways. 

I’m still looking for a good deal on a potential flip though.  Haven’t found one as of yet. 

 Jonathan, if you are only expecting $1,200 or so on that $165k price, that isn't going to cash flow $300, unless you planning on buying with cash or a very large down payment.  Even at $1,400 it doesn't meet the 1% rent/price rule, which I think would be a minimum target in KCMO even in today's tight market.

@Larry F. Hey Larry you’re right. I wasn’t considering the 1% rule at the time. I’m actually still looking at some deals in Kansas. I’ll post some deals I’ve been calculating latey to get some feedback on them soon. Thanks Larry for the Advice. As you can see I still have a lot learn 😅...🤔..🤓.

Jonathan,

I am a realtor and investor myself. I am currently working with investors and 1 wholesaler. With your budget, you could get something that'd rent out as high as 1500 in my area. Let's connect!

@Jonathan Hernandez Have you had a chance to head over there yet and check out the area? 

We went last year to visit a friend living in KC and to look at some properties/drive different areas of the city to see what they were like in person. 

We looked at a bunch of properties in the first few days and nothing stood out to us, then the day before we were supposed to fly home our realtor found a duplex that had just come on the market. The #'s worked and we were happy with the location and condition of the house and it's potential so we pulled the trigger. 

If you can I would recommend planning a trip to visit, we were pleasantly surprised with the KC and all it had to offer. Keep running your numbers and be ready to move quickly when you do find the property that works for you because chances are that if it really is a good deal then someone else will be ready to roll if you're not.  

@Carly M. who’s your realtor in CKMO? Would you recommend? If so can you PM me with contact info? I think we have similar scenarios. I have a friend who’s currently living in Overland Park and I’m planning on visiting soon to scout for 1st time investment. 

What neighborhood did you end up in? 

@Dax Gurr  I spent a couple days last week driving through neighborhoods in KC on the Mo side.  I have found that Trulia’s crime map more or less tells the story on where the bad areas are.  However, in the urban core, there are pockets of “ok” blocks or streets, I could definitely tell a difference as I drove through.  Be sure to talk to local realtors and property managers to find those pockets if you choose to buy in the urban core. 

Good areas (lower crime and nicer/newer houses) are east of 435, north of the river, and down in the southern suburbs.  West of The Paseo looked good too.

There's some great info in this thread! Thanks everyone for sharing. I'm a Canadian who's looking at a few cities in the states to move my investments to and KCMO is one of them. I'll have about 300k available to put into multis once I sell one of my places, and as much as I would like to buy in cash to avoid the hassle, I would rather use leverage to secure a few more doors. Does anyone know of a lender who works with out of country investors?

@Dax Gurr For the most part, I would recommend staying out of the inner city, certainly the low end sections of it. Kansas City can be an excellent market but you need to know what areas perform. It also depends on what class of neighborhood and property that fits your criteria. We tend to focus on strog rental, B class areas in the suburbs outside of the 435 loop. The only areas that I would say to stay away from completely outside of the loop would be Ruskin Heights and the northwest section of Independence. We've been active in KC for several years and know it well. Feel free to reach out if I can be of any help.