Good day BP Kansas City!
The soon-to-be misses and I will be driving through Kansas City on Monday and stopping for the night on the way to our pending nuptial ceremonies next weekend. Being green investors and being in a very expensive market (Denver and Colorado in general), we are looking for another market in which to start our investing. That being said, we're going to take a driving tour of a few neighborhoods/areas that might be options and I would like to ask your suggestions. We're mainly looking for deals that are sub 100 for flips and buy/holds, preferably multi unit but not against a sfr either.
Any help would be much appreciated!
(I know this is vague, but wondering if we should stay close to the city center, go north/south, MO vs KS, etc...)
flip competition is fierce, so is MFH.... sub 100 MFH is probably going to be difficult for OOS.
I'm interested in the Historic Northeast section of KC. Lots of different types of buildings - newer and older, single family and multi-family. Lots of properties that can be gotten probably pretty cheap. I was on an investor's tour of the neighborhood this week and there are a lot of developments going on up there.
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I think there are many opportunities close to the state line actually where you can get some good cash flow in popular residential areas. I would say the Kansas side is going to be pricier though.
Hope this helps! Good luck.
@Brian Jackson , don't believe the hype. There are more deals here in the Northland then I could ever imagine. I have three flips currently under contract.
I would say stick to the Northlands, huge future growth.
Also, it is a pipe dream to think you are going to get a MFH for 100k in anything other than a D class neighborhood. Maybe if you can find a fix and flip in a C class but good luck finding one. Link up with a good broker, know your numbers and be ready to act. That is the only way you will get a MFH here for that price.
Best of luck to you and congrats on your soon to be marriage.
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Originally posted by @Brian Jackson :
I appreciate all the helpful feedback! Very excited about our trip!
@Matt K. Sounds like you're ready to get out of the game. I'll be happy to take any properties off your hands...
It's not that, it's just everyone thinks their MFH is worth a lot right now (and maybe it is if people will pay that). Not a lot a MFH inventory and the sub 100 isn't an asset class I invest in.
For flips you can still make money but it's again a different asset class than you listed. Plus a lot of construction going on is making it harder (read that as expensive) to find labor. Combine that with peoplee who don't know what they are doing and overbid it strips away profit real fast.
@Brian Jackson bring up my prop value w/ this flip... please, thanks (lol).
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