Hey there everyone! 

I want to invest on multi families in Kansas City, MO (but I’m open if anyone suggests against this city and has recommendations of other places). I will probably start in the next month. I’m doing my homework so I’m absolutely ready on every possible detail! 

I’m  looking for a rock star team and could use your help with locating good people or advice on how I can go about finding them.

Thank you all! Looking forward to your comments! 

@Karen Quintero you've come to the right place. Congratulations on starting your journey. What are you looking to learn by being on BP? What type of assets are you looking for? How about your strategy?

@Logan Freeman thank you for your response! 

My goal is to find a multi family to invest in in Kansas City MO. 

my strategy is to find a great team in Kansas City that I can trust in and develop relationships with as I know they are crucial to my success.  

I have learned a lot in this last year but know I need to keep learning about the area. I do not know about Kansas but know of some great developments coming to Kansas that intrigues me to invest there. So anything I can learn form locals could really help me. 

Thanks again!! 

@Karen Quintero If it is multifamily you're looking for - I can support. I am local and on the ground and have a full team. We manage over 1200 units/have GCs/lenders/attorneys/leasing. I can help get you in front of the people you need to chat with. Feel free to ask any questions and I will help!

@Logan Freeman

Thank you! That’s great! 

Is there any specific zip codes that you would suggest? This is my top 5 of zip codes I have gather on my research:

64111, 64108, 64112, 64113

@Karen Quintero these are all great postal codes in Kansas City. I own real estate in these areas. However; I do think it is important to better understand your investment criteria, size of project, expected return, risk tolerance etc...

These areas are very desireable, but at the same time are going to present some other challenges - product availability/returns etc. 

Happy to chat more, simply let me know! 

@Karen Quintero for other solid Midwest markets OKC shouldn't be overlooked. The price points are incredible for C class you're looking at 60-80k for single family. Rates of return are great off market, so for C and often for B class I typically see an 8% cap and cash flow is consistent. Multi is hard to get there. I mean you can definitely buy it, but it's hard to find it priced right. Seller's know there's demand and they're pricing it accordingly! I know this has been prominent in a lot of similar markets. Curious to see how it looks in KC! 

@Karen Quintero

Welcome to the BP family! Good to have you here! Here are some recommendations for you:

Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

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Wishing you the best!

Originally posted by @Karen Quintero :

Hey there everyone! 

I want to invest on multi families in Kansas City, MO (but I’m open if anyone suggests against this city and has recommendations of other places). I will probably start in the next month. I’m doing my homework so I’m absolutely ready on every possible detail! 

I’m  looking for a rock star team and could use your help with locating good people or advice on how I can go about finding them.

Thank you all! Looking forward to your comments! 

 Hello and welcome! Best of luck to you! 

@Karen Quintero ,

I agree Kansas City is a great market. It has a very strong rental market. Our metro is unusually large, has two professional sports teams, and is also benefited by an eclectic variety of industry.

To add to that, the affordability is extremely attractive. KC is one of the few markets able to provide B class property from $90k-$150k while being able to stay right around that 1% RTV.

I would also consider buying a couple single family homes to get started. It allows you to diversify not only the door count, but the address as well. Single family also tends to have a higher tenant quality in our experience. If you are firm about wanting multi-family, I would go a half step up on neighborhood class.

An additional note: Missouri tends to have lower prices with comparable rent to the Kansas side. It also has much lower cost of property taxes, and landlord/tenant laws tend to favor the landlord more on the Missouri side in relation to the Kansas side.

Feel free to reach out if you would like more detailed info. 

@Kiera Underwood  

thank you! 

It does sound great! I will definitely look into that! 

@Kiera Underwood Thank you! it sound really interesting, I will definitely look into that!

@Dmitriy Fomichenko Thank you for the tips Dmitriy! Will do!

@Tom Ott Thank you!

@Nicholas Parish That's awesome! I agree, after researching I decided for Kansas City, MO. Its great to see I am on the right track! I'm going to take you on your offer and message you! thank you so much!

I was told to avoid the following zip codes in KC area: 64124, 64127, 64128, 64130, 64131, 64132 - Would be interested to hear from the boots on the ground if there's any validity to this? 

Kansas City is a good market (although it's gotten hard to buy here because it, like most places, is really hot). But be very careful buying out-of-state. I've seen a lot of people get burned by it. I wrote an article with some points I think you might find helpful if you're interested: https://www.biggerpockets.com/blog/2014/12/23/investing-out-of-state-essential-items-to-vet/

@Karen Quintero watch out for major markets that have been popular for too long. A lot of investors approach me saying that they invested in Kansas city but are getting priced out with cap rates dropping in a lot of midwestern markets due to the popularity of out of state investing.

I'd look for a market where you can get higher cap rates on C+/B- assets, that still has solid laws, low taxes and owner paid utilities, and solid rental demand that keeps turnover issues at a minimum in the working class asset range (your ideal target for max cash flow).

I'll shoot ya a message :)

@Karen Quintero Kansas City is a great market so I would never recommend against it, however, you have to know the neighborhoods and buy in the right area. This is especially true for multi families. I can tell you though that mulit families in good neighborhoods are becoming very scarce. Are you open to SFR also? We've been active in KC for several years and know the market well. Feel free to reach out if I can help.

@Andrew Syrios makes sense! Thank you! It helps a lot!

@Elliott Elkhoury I understand, definitely one of my concerns, what other markets would you recommend? 

Awesome! Thank you (:

@Mike D'Arrigo Hi Mike! it's great to hear your input! I am pretty much solid on wanting Multi-family but I'm open to know if you would advice against it (for Kansas City, MO)

@Karen Quintero No, I wouldn't advice against it at all. You just need to be very careful of the location and be patient. As I mentioned, multi families in good areas are getting few and far between these days. You have to resist the temptation to buy in marginal areas just to get something. It's all about buying the right asset class. 

@Mike D'Arrigo okay perfect! I understand! I will be careful with the areas! 

Thanks again!