Wholesaler · Kansas City, MO · Member since 2015 · 41 posts · 13 votes
I’m looking to make connections with multi family investors in KC. I am currently collecting data and learning about bigger properties to start making offers with a partner that has a lot of commercial property experience but not as much with residential. I’m needing to figure out some things out about the current state of the market and what we should be shooting for with cap rates, cost per unit, ect.
Let me know if you want to connect, I have construction experience and I’m always looking to make more connections in the KC area.
Hey @Seth Larson we're new to the KC space for syndications but have experience elsewhere. Moved out here in December. DM me if you'd like to connect and we can schedule something!
@Seth Larson I am not super well versed in Multi family, as I don't sell them as much. However I think price per unit really boils down to how much the finished product will be worth. I have been seeing right around 10% cap rate lately, and they seem to bring in a LOT of interest. Most recent one was like 11.6%. As far as state of the market, multi family is REALLY heating up. And as a result the deals are getting way harder to find. You'll find the most opportunity as you look at ones in worse condition. But the ones that are in good shape, and can easily be turned into cash cows, are getting to become a rarity. Hope this helps!