Updated over 6 years ago on . Most recent reply
CAN’T FIND THE RIGHT MULTIPLEX
I am currently looking to buy a multiplex in the Overland Park, KS area to house hack as my first investment property. A property that needs work that I could live in flip and BRRRR would be ideal. The market is definitely a sellers market, especially for multiplexes. Everything that comes up on the MLS is overpriced and gets snatched up right away. How do I go about finding off market deals? I know the tools like driving of dollars and direct mail, but I'm not exactly sure how to find out who owns the properties as most are probably rentals and some are owned as half duplexes. I am also considering possibly turning a single family home into an over under duplex (has a walkout basement) and rent it monthly or possibly Airbnb? I stayed in one like that in Denver once and it was a good experience. Has anyone tried this before? What are people's thoughts on this?
Most Popular Reply
Hi Jason, I live in Overland Park too but I invest elsewhere in KC. I like to call Johnson County the land of low to no cash flow. Those MF OP properties do get snatched up quickly but in general, unless you are flipping it is very difficult to get the numbers to work out well. I can understand wanting to live here for the schools, amenities, etc but lower your expectations for finding a smoking good MF deal here in the bubble.