New to Real Estate · Denver, CO · Member since 2021 · 1 post · 2 votes
Hey all, long-time lurker here! I am looking at buying my first investment property in Kansas City, I'm considering the South Hyde Park area near Gillham Park (64110). I lived in the Plaza area for two years, so I'm familiar with the area, but I've since moved to Denver, CO. So I'd love to hear people's experience LTR renting/Airbnb in the Hyde Park area or KC and network with folks doing REI in the area (locally and out of state)!
Love Kansas City! I grew up in Springfield and have family who's lived for years just west of the Plaza by Pembroke Hill school. Every time I visit, I think KC has a lot going for it and feels like a smaller Denver. A few different little pockets of cool -- Westport, the Plaza (like Kansas City's Cherry Creek area), Brookside and now -- dang! -- the Crossroads (KC's RiNo-like neighborhood). That last place gets me really excited. A high-end hotel, a food hall, lots of new restaurants, a new convention hotel between it and the Power and Light (KC's LoDo).
Anyway, welcome to Denver and good luck with your investing in KC!
Welcome to Denver @Amanda Johnson! I am an agent in Denver and have investment properties in Colorado Springs. Let me know if there is anything I can do for you!
@Amanda Johnson Welcome! I am also in Denver Metro but work on properties anywhere in the country. I consult with commercial property investors and their CPAs/tax professionals at no cost regarding maximizing their tax benefits and increasing their cash-flow. I am giving a talk in Colorado Springs on June 1st to an investor group. If you would like to attend or if I can help in any way, let me know.
I grew up in Kansas City. Moved to Denver in 2016 for my career and started buying in Kansas City for 5 years. My portfolio grew to 21 units while I was in Denver. The pandemic created a work environment where I could move back and continue working my W2 job while continuing growing the portfolio. I have not jumped into the short-term rental side of things yet, but I plan to at some point. All of mine are currently LTRs. I love to discuss real estate so just send me a message if you're interested in talking about it. Sounds like you plan on doing exactly what I did!
Love Kansas City! I grew up in Springfield and have family who's lived for years just west of the Plaza by Pembroke Hill school. Every time I visit, I think KC has a lot going for it and feels like a smaller Denver. A few different little pockets of cool -- Westport, the Plaza (like Kansas City's Cherry Creek area), Brookside and now -- dang! -- the Crossroads (KC's RiNo-like neighborhood). That last place gets me really excited. A high-end hotel, a food hall, lots of new restaurants, a new convention hotel between it and the Power and Light (KC's LoDo).
Anyway, welcome to Denver and good luck with your investing in KC!
This may come off as negative, but I promise I intend it to be constructive... no pun intended!
For SFR's, I think investing out of state is overrated unless you can quickly get to a scale where your disadvantages of not being in that market every week can be baked into the cost of doing business. For a small portfolio in KC, Memphis, Indianapolis, etc. I'd rather own one house in Denver than 2-3 out of town. The cash flow is likely to be less, but in general, appreciation will be stronger and you'll save yourself the BIG bumps in the road from not being able to touch, smell, and see your asset repeatedly and easily.
Not meant to dissuade you one way or another, but to provide a fresh perspective.