Updated over 4 years ago on . Most recent reply
New Wichita Investor
Hello everyone. I have done a lot of research on areas to invest and I really like Wichita, KS. I would like to know other investor opinions, how you like investing, especially if you are out of state investors as I would fall in that category. From my research, I know I need to be pre-approved, have a realtor, and consult a property manager on the likelihood of the area being rented. I'm super interested and very open to learning from everyone. I was thinking to get my feet wet I should buy a single-family home that rents well enough to make sense. Make my mistakes, learn what I need to, and move on to the next rental.
Most Popular Reply
Wichita is a fantastic place to invest. Lots of opportunity for cash flow and quite a bit of appreciation even in the less desirable neighborhoods. I've had great experiences with PMs and all the homes I own are really hands off.
That being said there is not a lot of inventory available and regular homebuyers have shot up prices to regularly go 10-15% over asking. Housing developers are building as fast as they can and making a killing doing so. But just like the rest of the world they are struggling to get enough supplies. The pandemic created a huge backlog in supply availability and its even worse here because Amazon has bought up a whole lot of the concrete here to build their new fulfillment center in Park City. Supply costs and inventory availability makes it much harder to grab great deals. It's definitely still possible but be cautious, don't find yourself paying too much because you just want to get a purchase.