Updated almost 7 years ago on . Most recent reply
Kansas City Area Investing
Hello,
I am new to real estate investing and looking for some advice on the current state of the Kansas City area market. Having just bought my personal residence, I am aware that the market is pretty hot in some areas. I am looking to pick up a buy and hold single family or duplex property in the near future. I've done some research on deal analysis and seem to be struggling to find the right area for a good cash flow property. Any suggestions on areas I should be looking?
I am open to areas on the Kansas and Missouri side.
Thanks,
Kevin
Most Popular Reply
I echo @Logan Freeman's advice above. Its also important to consider your strategy. If you focus on less expensive properties with lower rents (ie Independence) you will have great returns but more headaches with the tenants and turnover. Higher end properties (mid town/plaza/North KC) will leave you with less unit count for your money but more stable renters that tend to stick around for a few years. I personally invest in both but Im local and its easier to keep an eye on bad behaving tenants. For an out of state investor I recommend spending a little more (ie, 100k per unit) and getting that 'set it and forget it' tenant. As far as PM in Kansas City - I cringe every time this question comes up. PM's all have a niche. Theres no best PM in KC. Where is your property located? SF or MF? Are your units scattered or all in one location? Pm's need to be matched to the property for the most successful owner/pm relationships. Overall though Kansas City is a great market for investing and I'm happy that I get to help so many people make great returns here.