I am new to investing and I've been looking at Kansas City as a potential out-of-state investment market. I looking to purchase 5-6 properties by the end of the year. I am based in the Bay Area, CA so trying to build a team out there. Want to start with some rental properties and then potentially move into flipping. I have $40k in capital which won't get me very far here in the Bay Area, but hoping I can get started in a more affordable market. Thanks.
As far as out-of-state investing goes, I would recommend reading this article I wrote on it a while back: https://www.biggerpockets.com/renewsblog/2014/12/23/investing-out-of-state-essential-items-to-vet/. Be very careful as there are a lot of pitfalls with out-of-state investing.
Congrats on starting your investing journey. I am local to the KC market. I would suggest making a trip out here to KC and visiting some of the suburbs. It will help you get a better feel for the areas and what they have to offer. Also there are plenty of good resources here on BP to research your different options in investing in out of state markets. Let me know if you have any questions.
@Frederico Nasol you can use 40k to leverage a couple of decent properties here in KCMO but that is about it. You might want to find someone to partner up with and try to build cash reserves up.
@Dan Krupa I'm looking at pulling equity out of my main residence and we should have +$150k. Spoken to a few agents there in KC and we're going to head out for some face time in a couple weeks.
@Frederico Nasol I help investors throughout the entire country. I'd love to learn more about your goals and risk tolerance.
@Frederico Nasol good for you man! Careful what you say on here. Everyone is going to try to sell you when they find out you have money. LOL. PM me if you need some good referrals or any other advice.
@Frederico Nasol , I am based off Fremont and looking on to Kansas market too. Hope its not too late to invest there. You can do it.
Folks investing out of state in Kansas. What areas seem plausible in 2018? Where should I start my search? Looking to hit around 1.5% in B-B+ markets. Buy and Hold is the strategy. Thanks a ton in advance.
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