I've been reading for some time on BP
But, I want to get into the active phase to start purchasing my 1st property
I've found some properties en Kansas City, MO. Zip codes 64123, 64128, 64019 (Jackson County)
By any chance there is any content where I can learn about where to invest in KS?
I'm living in Austin, TX
And I've been looking for opportunities in Memphis, Chicago, Little Rock, Kansas City, etc
And of course, interested in Texas, but the prices has been going up fast
In Kansas City, as a quick and easy rule of thumb to follow, stay outside the 435 loop on the missouri side to get a balance of rent/price ratio and tenant quality/headache management. You need some detailed knowledge to avoid trouble inside the loop.
If You want to go really cheap and safe - search Raytown, MO, Grandview MO, Belton MO, Kansas City KS
Do you have a property Managenent company already ? If this is your first project and you have limited resources you may better look for properties around your current location. May be start with the PM company - ask if they will take this property to manage it
I'm a life-long resident of Kansas City, KS and can answer many questions you may have about the area.
In general, for you investors that are active in the KC, MO areas, how is the market from a cash flow perspective? Also, what is your opinon on SFR vs MF in that area?
I've lived in Raytown area all of my life - let me know if you have questions about area. I'm not an experienced landlord, not at all, but I do know the area and where I'd pick to live if possible. I like east Raytown for the best schools and nicest areas - east KC is good too in between Raytown and Lee's Summit. (Kansas City kind of wraps around Raytown on the east)
@Emilio Caamano 64123 and 64128 would not be my first choices (or 2nd or 3rd). Those are pretty rough areas for the most part. I'm not sure if you really meant 64019. That is in Johnson County in a town called Centerview. Personally, I like the areas just outside the 435 loop. I'll be happy to talk to you and share more of my perspective.
@Emilio Caamano I just wanted to share that I do live in KC and the zip codes you shared are going to be very difficult to rent with quality tenants. I'm sure there is a high ratio of renters in those areas however, it is a very high poverty area. 64123 is in north east Kansas City which I am very familiar with as my dad lives over there. There are certainly some beautiful homes there but it is street by street and mostly only close to the museum. There is gang activity and tons of graffiti. My dad's truck has gun holes in it from stray bullets. The other area is east of Prospect which is super run down and again high poverty concentration.
When in midtown, anything east of Troost can be problematic however, there are some beautiful homes that are well cared for between Troost and Paseo. This is an area for a special investor who will help support people looking for affordable housing.
Thanks a lot everyone !
This is exactly the "why" of my post, this will be my first property and might not be the great idea.
Additionally, the price of the houses was low, so potentially will need to be cash purchase, that means a bigger risk
I'll keep looking, any additional advise, I'll be happy to take it
I've another question, but I'll start a new discussion to avoid mix and match of topics :)
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