East Kansas from a distance

8 Replies

I'm in Tucson but grew up in Horton. Tucson's a great market but I'd like to look at other areas for cash flow properties. I'd love to network with some folks back home and talk about your market.

Tabor Tollefson, Real Estate Agent in AZ (#SA587616000)
520-990-4289
Originally posted by @Tabor Tollefson :

I'm in Tucson but grew up in Horton. Tucson's a great market but I'd like to look at other areas for cash flow properties. I'd love to network with some folks back home and talk about your market.

 I'm originally from Kansas City, Kansas but moved to southern Arizona 4 years ago. I just recently moved to Omaha, Nebraska. I agree with you, Tucson is not the best market for either cash flow or appreciation. 

402-965-1853

I am in Omaha and we have a great rental market here. Please let me know if you are interested in JV (Joint Venture). If you can help me to fund deals, I would love to have your help.

~ Yoshi 

Hi @Tabor Tollefson

You  grew up quite a ways N of me in Wichita, however if you're interested in anything here or the KC area would be glad to chat.  I live in Wichita and have family in Blue Springs, MO (KC Suburb).  Lots of good things will be going on around Wichita State University and elsewhere in the city.

I recognize this is a fairly old post.  I am in Topeka, KS.  We have, what I consider, a decent rental market for cash flow.  If you are interested I would be more than willing to answer any questions or give my opinion of my local area.

Jacob Sampson

Thanks for responses! What does the average turn key 3/2 go for in Topeka and what would it rent for. I'm looking primarily in B class neighborhoods.

Tabor Tollefson, Real Estate Agent in AZ (#SA587616000)
520-990-4289

Here is a link to a property I purchased in May of 2015.

http://www.snco.us/Ap/R_prop/Listing.asp?PRCL_ID=1411202011031000

3b/2b we purchased for $54,000.  We put less than $500 into it to get it rentable.  It rents for $900/month.  2 months into it we did end up spending $800 to cut a tree down in the back yard.

There aren't an endless supply of these sorts of deals but I can pick 1 up every 2-6 months.

Not sure if I meantioned this in this thread or in another, but here are some basic equations I use to decide whether or not to buy/what I require from a property before I am interested.

At max I pay 60 X monthly rent. That price has to include any fix-up costs to get the palce rentable. On a 15 year note the property must provide at least 12% cash on cash ROI. I use 30% as my longterm average vacancy and maintenance cost. You really cant count on appreciation in these small towns but I have started buying in areas that have a long track record of sustaining property values. The example above is definately one of those areas.

@Jacob Sampson is right. Expect to pay slightly more for better areas. Can get a very good house in decent neighborhood for $60Kish. Rent will be high 800's. These aren't everyday but they are there if you keep your eyes open. :)

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