Kansas City Residential Turnkey Recommendations

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Kansas City Residential Turnkey Recommendations

Tom Volpe
Rental Property Investor · New York, NY · Member since 2016 · 11 posts · 2 votes

Hi BP, 

I am new to the real estate investing world but have spent the last year learning more then I could have imagined through BP.  Just last week I purchased my first investment which was a Turnkey Town home in the Raleigh NC area.  It has been a great learning experience in that it forced me to go through all of the motions in isolating a geography of interest, closing on my first property, financial analysis and now screening tenants. 

Although I may not have optimized my return (176K LP/1.4K Rent) I was able to learn a lot and have what I consider to be a safe first investment.  Now I am looking to develop my RE portfolio with a specific emphasis on cash flow. I have seen a strong consensus that one of the better areas to consider for rent/turnkey operations is in the Kansas City area.  

I was hoping to gain some first hand perspectives/experience from others that have invested in this area.  I am interested in Here are some highlights I am hoping to accomplish: 

- Referrals of RE/PM companies/reviews

- Attesting that this is a promising area for turn key rentals 

- Specific neighborhoods that are attractive in the B-B+ area (what I have found most BP rental investors prefer) 

-Financials: Expected cash on cash return, vacancies, ROI, LP to RP

All thoughts are welcome! 

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William Robison
Real Estate Consultant · Kansas City, MO · Member since 2013 · 388 posts · 200 votes
10y

Being a turnkey and a hybrid turnkey provider in KC, I would HIGHLY encourage anyone considering a turnkey investment to get on a plane and check it out for themselves.  Even if you dont buy on the trip, you will have received education in the market area, as well as an understanding of the quality of renovation that goes into a property.  

One thing that I think is critical is having the support of an ongoing company that will stand behind the property after it has been tenanted.  A less than good renovation can look great in pictures but could have largely ignored several mechanical issues, or other items that they failed to photograph in the final presentation.  "Lipstick on a pig" wears off.  In our processes, we prepare the property for long term property management and then offer those services to our clients in our mgmt company.

Finally, never take the property class as marketed.  If you are buying a property for tens and tens of thousands of dollars, spend an hour looking at other resources....school ratings, economics of the neighborhood, etc.  We actually use a six metric system that identifies the strengths of a property in our review of a house.

Best of wishes with your real estate investments.

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  • Jason Hawk
    Real Estate Services · Olathe, KS · Member since 2015 · 329 posts · 57 votes
    10y

    Feel free to message me to discuss, I'm from KC 

    Jason

    0Reply
  • Matt R.
    Blue Springs, MO · Member since 2015 · 481 posts · 313 votes
    10y

    I grew up in Independence, and now I live in Blue Springs - both eastern suburbs of Kansas City, MO. I am in the process of buying my first rental SFR in Independence, but not as a turn-key.

    The most important suggestion I have for you is to drive up to Ronkonkoma and buy a ticket to Kansas City from the friendly people at the Southwest Airlines counter.  Fly out here and drive around and *look* at the different properties that are being offered.  You should be able to figure out which turn-key providers have reasonable deals and which ones are telling stories.

    0Reply
  • Shai Neubauer
    Flipper/Rehabber · Brooklyn, NY · Member since 2015 · 41 posts · 19 votes
    10y

    Hey Tom,

    I am a turnkey investor from New York as well.  I have one property out in KC that is performing well. The turnkey provider there is Marcus Painter.  PM me for his contact info he is very good.

    0Reply
  • Tom Volpe
    OP
    Rental Property Investor · New York, NY · Member since 2016 · 11 posts · 2 votes
    10y

    Thanks for all of the above information! 

    Before I travel down to the area I am hoping to get a better since of precedent investments from the BP community to confirm that the location is what I have been reading in other forums.  I hope it is though because I would love to take a trip down. 

    Shai & Jason thanks for this I will be reaching out soon! 

    0Reply
  • William Robison
    Real Estate Consultant · Kansas City, MO · Member since 2013 · 388 posts · 200 votes
    10y

    Being a turnkey and a hybrid turnkey provider in KC, I would HIGHLY encourage anyone considering a turnkey investment to get on a plane and check it out for themselves.  Even if you dont buy on the trip, you will have received education in the market area, as well as an understanding of the quality of renovation that goes into a property.  

    One thing that I think is critical is having the support of an ongoing company that will stand behind the property after it has been tenanted.  A less than good renovation can look great in pictures but could have largely ignored several mechanical issues, or other items that they failed to photograph in the final presentation.  "Lipstick on a pig" wears off.  In our processes, we prepare the property for long term property management and then offer those services to our clients in our mgmt company.

    Finally, never take the property class as marketed.  If you are buying a property for tens and tens of thousands of dollars, spend an hour looking at other resources....school ratings, economics of the neighborhood, etc.  We actually use a six metric system that identifies the strengths of a property in our review of a house.

    Best of wishes with your real estate investments.

    1Reply
  • Javier Gaillard
    Rental Property Investor · Detroit, MI · Member since 2013 · 46 posts · 19 votes
    10y

    I am also looking for a good turnkey provider in Kansas City. 

    0Reply
  • Billy Smith
    Shawnee Mission, KS · Member since 2016 · 716 posts · 313 votes
    10y

    I use agent who has 30 rentals him self .He knows the KC market well for a investor.He found a great brick n motor mortgage company for me .If you want more info send me a message .

    1Reply
  • Chris DawsonPro Member
    Real Estate Broker / General Contractor / Property Manager · Kansas City, MO · Member since 2010 · 395 posts · 425 votes
    10y

    @Tom Volpe the most important thing for an out of town investor is to build a local team that you can trust.  Interview at least 3 of each of the following:  investor friendly real estate agents, property management companies, and general contractors.  Check out their backgrounds.  Check the BBB.  Check social media.  Most importantly, meet them face to face before you make your choice!  Its really easy to make yourself sound like a big successful company via a good website and some decent marketing; when you are really a one man shop working out of your parent's basement!

    0Reply
  • Account Closed
    Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
    10y
    Tom Volpe USREEB
    1Reply
  • Sean Tarpenning
    Turnkey Investment Provider · Kansas City, MO · Member since 2015 · 1k+ posts · 116 votes
    10y

    Feel free to reach out to us at USREEB to discuss! PM me. @Tom Volpe @Javier Gaillard

    0Reply
  • Julie Macd
    Investor · Seattle, WA · Member since 2015 · 71 posts · 60 votes
    10y

    @Tom Volpe I am also interested in turnkey properties in Kansas City. I will be travelling there next week to get a better feeling of the market/ neighborhoods as well as to meet with potential partners. 

    Lots of people recommend the area, strong economy etc. The TK companies are mostly focues on the east and south. I will let you know what I find

    0Reply
  • Nathan Brooks
    Real Estate Investor · Kansas City, MO · Member since 2012 · 397 posts · 187 votes
    10y

    @Julie Macd we are really looking forward to your visit in KC! And @Tom Volpe we would love to speak with you as well.  We provide exactly what your asking for, have in house awesome PM, and provide some additional significant benefits as well.  Love to speak with you further.

    1Reply
  • Steven Barros
    Investor · Redlands, CA · Member since 2015 · 26 posts · 1 vote
    10y

    Please let us know which company you like @Julie Macd

    0Reply
  • Anurag T.
    Danville, CA · Member since 2016 · 17 posts · 7 votes
    10y
    Julie Macd can you please share your experience about your KC visit. Did you end up buying any Turnkey Property Thanks Anurag
    0Reply
  • Carlos RoviraBusiness Member
    Investor · Miami, FL · Member since 2015 · 329 posts · 124 votes
    9y
    I'm in the process of evaluating Turnkey providers in Kansas City. I had a kick off call with Mark Edmonson (http://buykcproperty.com) yesterday. I'm wondering if anyone with experience in this market can give me some feedback if they are familiar with Mark's operation. Thanks!
    0Reply
  • Cliff Harrison
    Rental Property Investor · Shawnee Mission, KS · Member since 2014 · 205 posts · 136 votes
    9y

    I had a meeting and showing with Mark a couple of years ago.  It went well, I thought Mark was very credible and I had a good impression of him.   The house I looked at (in the Bannister Road area) seemed to be pretty well rehabbed as well.  I ended up not buying Turnkey but I had a good impression of Mark.  Good luck.

    0Reply
  • Shannon Bae
    Los Angeles, CA · Member since 2015 · 40 posts · 14 votes
    9y

    I bought a turnkey in Independence last year..anyone wanting to know my experience and what provider to steer clear of please feel free to PM me. I believe the BP community is all about having each other's back..

    0Reply
  • Ron Quinn
    Specialist · Independence, MO · Member since 2016 · 66 posts · 9 votes
    9y

    @Shannon Bae I sent you a request I am eager to speak with you

    0Reply
  • Ron Quinn
    Specialist · Independence, MO · Member since 2016 · 66 posts · 9 votes
    9y

    @Javier Gaillard PM Me I have details that will help you

    0Reply
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